10 Israeli cos account for 51% of exports

Ashdod Port

Concentration in 2015 in exports was the highest yet recorded, the Israel Export Institute reports.

Figures published by the Israel Export and International Cooperation Institute show that Israel's 10 largest exporters accounted for $23.6 billion in exports in 2015, 51.3% of Israel's total exports of goods for the year, and 2% less in dollar terms than in 2014. Exports by all other companies fell 8% to $22.4 billion. The 10 leading Israeli exporters, excluding diamonds, are Intel Israel, Adama Agricultural Solutions Ltd. (TASE: ADAMA), Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT), Oil Refineries Ltd. (TASE:ORL), Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1), Iscar Ltd., Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA), Israel Chemicals (TASE: ICL: NYSE: ICL), Paz Oil Company Ltd. (TASE:PZOL), and HP-Indigo.

The Export Institute today said that the figures for concentration in exports were the highest since it began measuring them in 2007. The balance between the large exporters and the medium and small ones remained equal in 2012-2014. Since 2007, the 10 largest exporters have increased their share of total Israeli exports by over 15%.

"We saw a halt in the trend towards concentration in Israeli exports in 2014, but we continue to see an rise in the weight of the 10 largest exporters in 2015, also indicating the growing dependence of exports and the entire economy on a limited number of very large companies, " said Export Institute director general Ofer Sachs said today. "This trend highlights the great difficulty facing the small and medium-sized exporters seeking to increase their overseas sales in recent years, and indicates a critical need to encourage and support this sector. At the same time, the great importance and contribution of the major exporters to the growth of Israeli exports, domestic employment, and economic growth should not be ignored. "

The Export Institute report also shows that starting in 2008, the large companies led the growth trend in Israeli exports, while the aggregate amount of exports by the other companies began to decline. In 2015, the large exporters increased their export business by 35%, in comparison with 2008, while exports by other companies were down 7%.

Published by Globes [online], Israel business news - www.globes-online.com - on March 20, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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