High tech exports to reach $16.6 billion in 2005

Elisha Yanay Motorola Israel general manager and chairman of the Israel Association of Electronics and Information Industries (IAEI) said last week that Israel's high-tech sector will grow 6% in 2005 to $16.6 billion.
 
High-tech growth in 2005 will, however, be slower than the 15% growth in 2004.
According to Yanay the global recovery and Israel's successful penetration of international markets will benefit the high- tech sector which will grow by 10% in 2006 to $18.2 billion.
 
Exports of medical, communications and electronics equipment and software rose in 2005, but exports of electronic components fell by 14%.
 
Yanay noted that Israel's defense exports accounted for 16% of total high-tech exports IN 2005. Defense exports will total $2.3 billion this year, the same as in 2004.
 
Civilian high-tech exports account for 84% of high-tech exports this year - $11.9 billion, an increase of 7%.
Domestic sales will total $2.4 billion.
 
Yanay added that the high- tech sector will hire this year 2,300 people, increasing employment by 4% to 57,200.
 
He also said that the IAEI, the Office of the Chief Scientist and Israel Venture Association were planning to double Israel’s high-tech exports within the next five years.
 
To reach such a goal Yanay expects that the government will increase employment incentives offered by Chief Scientist, improve technology education, encourage Israelis working for high-tech companies overseas to return to Israel.