2005 - Israel's industrial exports to EU up 10.6%

The Israel Export and International Cooperation Institute (IEICI) reported last week that Israel's industrial exports to the European Union (EU), excluding diamonds, rose 10.6% in 2005 compared with 2004 to a total of $8.3 billion
 
In its detailed analysis the IEICI noted that among Israel's larger export destinations in 2005, there were notable rises in exports to the UK up 14% to $1.29 billion, to France up 13.9% to $704 million, Ireland, up 20.3% to $158.1 million, Spain up 15.7% to $645 million, Belgium up 25.3% to $842.1 million, Poland up 18.1% to $139.7 million, Slovenia up 174.3% to $58.7 million, and Sweden up 24.6% to $132.4 million.
 
The IEICI noted however that exports to Greece fell by 19.1% to $188.5 million last year. This, according to the IEICI can be attributed to the fact that Israeli exports to Greece were particularly high in 2004, due to the Olympic Games.
 
For 2006, the institute expects further growth, of about 10%, in exports to the expanded EU, to a total of some $9.1 billion.
 
The institute believes that the strengthening of the Euro and the recovery in high tech sectors will tend to reduce Israel's trade deficit with the EU.