Figures released last week by The Israel Export and International Cooperation Institute show a 10% increase in industrial export to the USA in 2005
Mr. Yehiel Assia director general of the institute said in a press release that total export to the USA in 2005 reached the $7.5 billions mark and he expected a further growth of 9% in 2006, to $8.2 billions.
Assia attributed the growth primarily to the acceleration of economic growth in general. He added that continued recovery of the US economy, particularly in high-tech sectors, would boost non-diamond industrial exports to the US. According to economic analysis prepared by the institute, high-tech industrial exports to the US rose in 2005 by 18% to total $3.8b. Exports of medicines grew by 54.7% to $1.5b. and exports of telecommunications equipment grew 12.3% to $745 million. Export of textile products was up by 1.3%, in 2005.
Assia pointed out that the institute has adopted wide range of promotion activities in 2006 focusing on promoting industrial exports to the US. The activities include 12 exhibitions throughout the US, with the participation of about 150 exporters, as well as 13 delegations for business meetings.
