Export to China – trade indicators are favorable

Export of high-tech products including drugs & medicines to China, in the first half, was up by 55%. Exports of food fell by 35% and textile by 31%. Yechiel Asia, Director General of the Israel Export Institute sees, for the whole of 2004, increase in export to China by 25% to US$640m.
 
During the first half of 2004 exports of high-tech products including drugs and medicines to China indicates an increase of 55% to a record level of us$200m, compared with the first half of 2003.
High-tech exports consisted, in the main, of telecommunication equipment, electronic equipment . measuring equipment, surgical and industrial control systems.
 
According to Mr. Asia, during the first six months of 2004 total exports to China registered an increase of 51% ( US$314M) compared with same period last year.
 
Asia sees a further increase for the whole year due to the rapid growth of the Chinese economy and the comparative advantage of the Israeli telecommunication industry, security sector, agricultural equipment, environmental technology as well as packaging, software and semiconductors.
 
According to comparative trade composition analysis made by the export instituteexports of food and food products fell during the first six months by 35% to US$4.6 M . Exports of textiles & leather goods fell by 31%, to US$4.2M and rubber & plastic goods fell by 15% to US$4.2M.
 
Chemicals and refined oils was up by 30% to US$27M. Metals was up by 67% to US$17M and an increase of 184% (US$4.5M) was registered in the export of furniture, paper and paper products.