Israeli exports to Turkey fell 40% over the past year, double the overall 22% drop in exports.
Ashra Israel Export Insurance Co. Ltd. reports that arrears by Turkish companies to Israeli exporters is up 90%, even as exports plummet. Israeli exports to Turkey fell 40% to $800 million in January-September 2009 from $1.3 billion in the corresponding period of 2008.
The drop in Israeli exports to Turkey is almost double the overall 22% fall in Israeli exports. Ashra attributes most of the decline in exports to Turkey to lower exports of metals, chemicals, and plastics.
Published by Globes [online], Israel business news - www.globes-online.com - on October 14, 2009
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