According to the Central Bureau of Statistics ( CBS ) gross exports was up last year by $6.7 billion to $38.5 billion, a 21.2% increase over 2003. Imports was up $6.9 billion to $41.1 billion, an increase of 20.1%.
The CBS emphasized that the growth in both imports & exports represented a breakthrough, as trade had decreased for three years, with 2003 figures lagging behind 2000 pre-intifada volumes.
According to the CBS the United States accounted for the bulk of Israel's export growth – 31%, or $2.1 billion.
Israel's trade surplus with the United States rose from $1.1 billion to $1.3 billion, as Americans imported 37% of Israel's exports but only accounted for 15% of Israel's imports.
Europe, on the other hand, led the import category. Israel's import from Europe registered 36% increase in 2004. Europe had an overall import market share of 41%.
The CBS added in the press release that the trade gap widened across the board. The trade gap with Europe, excluding diamonds, expanded 7% in 2004, after having narrowed 10% in 2003.
The trade deficit with Asian countries grew in 2004 by 27.8% to $1.6 billion .
diamonds
Diamond imports in 2004 totaled $9.2 billion, up 19% compared to 2003. Most imported diamonds came from Switzerland, Belgium and Great Britain. The $13.9 billion export trade found markets primarily in Hong Kong, the United States, Belgium, and India, growing 20.4% over 2003.
