The Tax Authority published this morning the data on the import of durable goods for the month of July 2022. The data shows that in the month of July 2022 there was an import of 19,841 private vehicles compared to 22,130 in July 2021, a decrease of 10.3%. Commercial vehicle imports amounted to 958 vehicles compared to 662 in July 2021, an increase of 44.7%. The decrease in the import of passenger vehicles is mainly explained by the relatively low import of vehicles in July 2022, among other things, against the background of the continued global shortage in the supply of vehicles.
In the months of January – July 2022, the import of passenger vehicles amounted to 152,620 compared to 150,801 in the same period last year, a moderate increase of 1.2%. Imports of commercial vehicles increased by 9.3% during this period and reached the volume of 7,508. The Tax Authority stated that the trend data indicates a decrease in the import of passenger vehicles starting in August 2021.
The total value of all imports in the month of July 2022 amounted to 8.6 billion dollars, an increase of 20.5% compared to the value of imports in July 2021. A significant part of the increase is due to an increase in the import of fuel products and electrical equipment. It should also be noted that from the beginning of 2022 the rate of inflation has increased in Israel and in the world, therefore the price of the products is more expensive. The Tax Authority stated that trend data indicates an increase in the value of imports starting in July 2020.