Israel Export Institute: in 2005 Exports will rise 10% to $26b

The Israel Export and International Cooperation Institute chairman David Arzi said last week that in 2005 Israeli exports will total $26 billion, 10% more than in 2004.
 
Arzi added that an analysis made by the Export Institute’s economics division had concluded that growth in exports this year would be less than last year’s 17.5% increase.
 
According to the analysis, this year’s slower export growth can be largely attributed to slower growth in larger economies of the euro bloc and the United States.
 
The euro bloc accounts for 35% of Israeli exports, and in the US accounts for 27% of Israeli exports.
 
Arzi also noted that in the first half of 2005 Industrial exports, excluding diamonds, rose by 7% to $12.3 billion.
 
High-tech exports - communications, computers, electronic components, control and supervision equipment; air transportation equipment; and drugs were up only 6.2% to $5.6 billion.
 
Medium-high technology exports - electrical equipment, chemicals, refined oil products, machinery and equipment, engines grew 9% to $3.3 billion. Medium-low technology exports - metals and metal products, plastics and rubber, mining, quarrying and minerals, rose by 9.3% to $2.4 billion.
 
Low-technology exports - food, beverages, tobacco; wood and furniture, textiles and clothing; paper and printing were up 2.6% to $1 billion.