Brosh: Government Should Make Export an Economic Priority

Brosh: “With small aid of $40 - $45 million a year over the next two years, industry can boost exports by $2 billion, and create 30,000 jobs”
 
Following the publications that industrial exports, excluding diamonds, rose by 1% in the first quarter of 2006, compared with the monthly average in the preceding quarter, to $6.3 billion, the Manufacturers Association expressed worries concerning the low growth in exports, and worsening exports profitability.
 
Preliminary data collected by the Manufacturers Association indicate a 2.3% increase in the cost of labor per export product unit in the first quarter, compared with the preceding quarter, which means a drop in profitability and explains Israel’s worsening terms of trade.
Manufacturers Association president Shraga Brosh made a public call on the government to make exports an economic priority.
 
Brosh said, “With small aid of $40 - $45 million a year over the next two years, industry can boost exports by $2 billion, and create 30,000 jobs.”
Export analysis made by the Manufacturers Association shows that in the first quarter high-tech exports rose by 1%, after rising 1.4% in the second half of 2005.
Mixed high-tech exports (chemicals, refined oil products, machinery and equipment, engines and electrical equipment.) rose by 1% in the first quarter, after dropping 5.4% in the preceding quarter.
Low technology exports (food and beverages, textiles and clothing, leather and footwear, wood and furniture, and paper and printing) rose by 0.5% in the first quarter, after falling 2.5% in the preceding quarter.
The Manufacturers Association also noted that an analysis of export destinations indicates a drop of 6% in exports to the EU in dollar terms, offset by an increase of 8% in exports to the US and an increase of 4% in exports to Asia.