Industrial exports to the US, excluding diamonds, grew 8% to $3.48 billion in the first half of 2005. High-tech exports, which account for 45% of all exports to the US, were up 11.2% to $1.5 billion. The Israel Export and International Cooperation Institute predicts that exports to the US will grow by only 4% in 2005.
Exports to the US rose 16% to $6.9 billion in 2004.
Export Institute director Yechiel Assia predicted that exports to the US would total $7.17 billion in 2005, as a result of US economic recovery, particularly in high tech, and the Export Institute’s activity in promoting exports to the US.
The Export Institute is planning to sponsor participation by 150 Israeli exporters in thirteen US exhibitions. Particular emphasis is being given to 90 exporters in nine delegations attending business meetings.
A breakdown by the Export Institute planning, control and economic research department of exports to the US in the first half of the year shows a 42% to $618 million rise in pharmaceutical exports, a 4% rise to $287 million in textile and clothing exports, a 5% rise to $326 million in telecommunications exports, a 0.5% rise to $217.5 million in medical and surgical equipment exports, and a 32% rise to $207.8 million in metal and metal products exports.
Exports fell to the US in the first half of the year in electronic components (down 33.3% to $147 million), chemicals and refined oil products (36% to $301 million), plastics and rubber (4.5% to $202.4 million), and transportation equipment (30% to $4 million).
Published by Globes [online] - www.globes.co.il - on August 10, 2005