Brosh: Israel's export's exposure to developing countries causing slowdown

Manufacturers Association president Shraga Brosh sharply criticized last week government policies regarding Israel's export performance
 
In a speech held ahead of the Prime Minister's Conference on Export held at the end of last week Brosh noted that the sharp decline in the dollar as well as slowdown in trade worldwide and in the US in particular, and Israeli export's high rate of exposure to developing countries, was causing a decline in industrial exports.
 
Brosh noted the slowdown in exports in the high-tech sector, the economy's growth engine, has been exceptionally sharp, falling from 20% in 2006 to just 7% in 2007
According to Brosh total export growth had fallen to 9-10% from 12% in 2006. Exports currently total $33.4 billion.
 
Brosh called upon the government to adopt a strategic export plan to increase exports. The strategic export plan should aim for an export/GDP ratio of at least 80% compared to the current 45%.
 
Such a goal could be achieved if the government adopt the necessary steps to increase exports by 15% a year, compared with 7% at present.