Due to fluctuations in the US currency and the closing of the Gaza crossings Israeli textile companies considering to relocate factories abroad within the next two years
The Manufacturers Association of Israel (MAI) published last week a survey indicating that due to fluctuations in the US currency and the closing of the Gaza crossings, a third of Israeli textile companies are considering to relocate factories abroad within the next two years.
In a press release the MAI noted that 35 textile industrialists participated in the survey which was commissioned by the MAI's Textile and Fashion Department.
As a result of the closing of the main two Gaza crossings, the survey found that 21% of the companies had moved operations back from Gaza to Israel, 15% of the companies moved manufacturing to China, 12% chose to relocate production works to the West Bank and the others manufacture in Jordan, Egypt, India and Turkey.
The survey also showed that: Almost half of the manufacturers currently manufacture at least part of their products abroad. Israeli textile industry caters to some of the leading retail chains in Europe and the US including Wall Mart, Sears, Marx & Spencer, GAP, Calvin Klein and Victoria's Secret.
