Exports to countries less vulnerable to the globalization process have increased, while exports to Israel's primary markets are undergoing a crisis, Ministry of Industry and Trade planning and economy division head Mordechai Ish-Shalom told "Globes" today.
Ish-Shalom said that exports in industry, agriculture, and diamonds to less vulnerable countries had increased, compared with the corresponding period in 2001, in contrast with the general negative export trend in this period.
Ministry of Industry and Trade planning and economy division figures showed a 48% increase in exports to China, which were expected to reach $450 million by the end of the year. Exports to India had grown 21%, and were expected to amount to $650 million by the end of the year.
Exports to Thailand increased by 13%, and are expected to total $450 million. Exports to Russia were up 12%, and are expected to reach $230 million by the end of the year.
At the same time, exports to Australia posted a 19% gain, and will probably reach $300 million this year. The ministry forecasts that exports to the European Union and Japan will also improve in the second half of the year as a result of the stronger euro and Japanese yen.
Published by Globes [online] - www.globes.co.il - on August 4, 2002