Notwithstanding political tensions between Israel and Turkey, Turkey rose to Israel's third largest export market in the first quarter from ninth place in the corresponding quarter of 2010, the Israel Export and International Cooperation Institute reports today. Exports of goods (excluding diamonds) to Turkey totaled $500 million in the first quarter, 73% more than in the corresponding quarter.
The US is still Israel's largest export market, with exports to that country totaling $3 billion
Exports to Turkey rose more than exports to other countries. According to Export Institute figures, most of the growth is thanks to to a 57% increase in exports of chemicals and refined oil products to $260 million in the first quarter.
China is Israel's fifth largest export market, and the largest export market in Asia. Exports to China totaled $443 million in the first quarter, 12% more than in the corresponding quarter. Exports to India fell 6% to $336 million, putting it in eighth place, mainly due to unusually heavy exports to it in the corresponding quarter. Exports of avionics were affected by a single deal in 2010, and fell from $100 million to zero.
Israel's top ten export markets are, in order, the US, the Netherlands, Turkey, Germany, China, Italy, the UK, India, France, and Canada.
Published by Globes [online], Israel business news - www.globes-online.com - on May 30, 2011
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