Manufacturers Association: Industrial exports rose in 2005 by 4.5% to $25.5b

Manufacturers Association (MAI) president Shraga Brosh claimed last week that the situation of Israel’s industrial exports was worrying.
 
Brosh claim came following publications of export figures, for the fourth quarter of 2005, which indicated a 2% fall in industrial exports in real terms. Brosh called on the government to put exports as an economic priority in 2006.
 
In a press release issued last week by the MAI, Brosh noted that despite the fall, $6.3 billion, in exports in the fourth quarter, industrial exports, excluding diamonds, rose by 4.5% in 2005, to $25.5 billion, after rising 17.6% in 2004. Global trade rose by 7% in 2005.
 
The MAI noted however that despite the fall in exports, export profitability improved substantially during 2005. The cost of labor per unit of exports index fell by 6.5% in the fourth quarter.
 
Brosh added that the 4.5% rise in industrial exports was a cause for concern since it reflected far less real growth than the growth in global trade.
 
Calling on the government to act Brosh said that “If Israel wants to achieve a target of 15% annual growth in exports, we cannot allow ourselves even one month’s fall in exports.”