Olmert: "For the first time - Israeli exports will be greater than Israeli imports"

Israeli Prime Minister predicted that for the first time in 60 years, Israeli exports will be greater than Israeli imports. Olmert's predictions stand in contradiction to announcement made last Sunday by the Central Bureau of Statistics
27.11.06 / 00:00
Olmert: "For the first time - Israeli exports will be greater than Israeli imports"
27.11.06
Olmert: "For the first time - Israeli exports will be greater than Israeli imports"
•

Israeli Prime Minister predicted that for the first time in 60 years, Israeli exports will be greater than Israeli imports. Olmert's predictions stand in contradiction to announcement made last Sunday by the Central Bureau of Statistics
 
Speaking at the cornerstone ceremony for Intel's new development center in Haifa, Ehud Olmert, Israel's prime minister, predicted last week that for the first time in 60 years, Israeli exports will be greater than Israeli imports this year.exports, according to Olmert,"will be some $6 billion greater than imports this year".
 
Olmert's predictions stand in contradiction to announcement made last Sunday by the
Central Bureau of Statistics which announced that imports of goods in the first ten months of 2006 reached $32.3 billion, while exports reached a much lower $25.1 billion.
 
Economists however noted that the PM meant that exports of goods and services together will be greater than imports. Economists noted,however, that in the last two years in 2004 & 2005 the exports of goods and services together was greater than imports.

More articles that may interest you
According to the CBS, exports of goods in January – October, rose by 7.4% to $32.6b from $30.4b in the corresponding period of last year
CBS: Israel’s trade deficit stable at $6.66 billion
Buses serving the Jerusalem area and those serving rural routes will be first to get GPS. The system will be able to make it possible to avoid road hazards, traffic jams or road accidents by rerouting buses
Egged Israel Transport Cooperative Society Ltd. to install GPS on 3,500 buses
11 presidents and heads of China's leading companies, including Bank of China, DATANG Telecom, SMIC, and others was invited by the Industry, Trade and Labor Ministry
Top Chinese businessmen to visit Israel this week
The assessment noted, however, that despite the gain in GDP per capita, Israel is not among the leading countries in terms of GDP per capita
CIA: Since 2003 Israel’s GDP per capita grew by $5,000
The MAI noted that the slowdown in the factories caused a sharp decline in local sales for 30% of the companies, while 40% of the factories said their exports efforts were damaged
Manufacturers Association: Kassam rockets caused NIS 40 million damage to industry
The Intellectual Property forum which consists of organizations such as BSA and Pharma Israel had called for the establishment of a ministerial committee to formulate national guidelines for all Government ministries
FICC: intellectual property violations in 2005 cost Israeli industry $500m
More news from Industry & Trade Section
>CBS: Economy shrank by 1.4% in Q3/20.11.06 >CBS: Exports of goods in October total USD 3.3 billion/20.11.06 >Minister of Finance: in 2007 infrastructure investment to exceed NIS 20b/20.11.06 >Manufacturers Association: high-tech exports down 3% in July-September/13.11.06 >Israelis registered over 12,000 patents between 1997-2004/06.11.06 >July-September Inflation Was Negative 1.1%/06.11.06 >Atlanta trade delegation visits Israel/06.11.06 >BOI: State of Economy Index - economic expansion has returned to the rate before the war/31.10.06 >New initiative: Chinese companies will act as national agents for Israeli companies in China/31.10.06 >CBS: Industrial output down 1% in August/31.10.06