Israel exports to Turkey down, exports to the United Kingdom up

The US remains first among Israel's export destinations, but Turkey has dropped from third to sixth
 
According to an analysis published by the economics division of the Israel Export and International Cooperation Institute the pattern of Israeli exports underwent changes in the first quarter of this year.
 
The US remains first among Israel's export destinations, but Turkey has dropped from third to sixth, as relations between Israel and Turkey continue to be sour.
 
The UK is in second place, up from seventh last year, and is Israel's largest export destination in Europe. Exports to Turkey, which primarily consist of chemicals and refined oil, were down by 26% in the first quarter of 2012.
 
The UK jumped from seventh to second place on the list. Exports to the UK, the most frequent European receiver of Israeli products, totaled at US$650 million in Q1 – an 84% growth compared to the same period last year.
 
The sharp increase is credited to the growing drug exports to the country. Exports of drugs to the UK soared 730% compared to Q1 2011. While the US remained the top destination for Israeli goods, exports to the country saw a 24% drop early in 2012; in total, US$2.4 billion worth of products were sent to the US in Q1, not including diamonds.
 
The drop primarily stemmed from decreasing drug exports to the US. Holland was the third largest export destination in the first quarter of 2012, down from second in the corresponding quarter last year. Exports to Holland totaled US$630 million, 18% more than in the corresponding quarter. China ascended from fifth to fourth place on the list. Exports to the Asian country reached US$540 million in Q1 2012, a 15% increase compared to the equivalent period last year.
 
Germany moved from fourth place in the first quarter of 2011 to fifth in the first quarter of this year. Exports to Germany totaled US$410 million, down 15%. The Export Institute points out that Germany had been one of Israel's most stable export destinations, growing consistently from year to year.