Pharmaceuticals: exports increased by 60% in first half of 2006

Exports to the US grew by 98% over the corresponding period in 2005, to $1.17 billion; Exports to Eastern Europe and the Far East rose by 69%. The industry employs 7,000 workers
 
According to data released last week by the Manufacturers Association the Israeli pharmaceuticals industry had, in the first half of 2006, the highest rate of export growth of all industries. Exports in the first half of 2006 was up by 60% to $1.4 billion.
 
In a statement issued by Teva vice president Haim Hurvitz, chairman of the Manufacturers’ Association’s chemical and pharmaceutical division the sharp increase in pharmaceutical exports was attributed primarily to: A sharp rise in exports to the US. Exports to the US grew by 98% over the corresponding period in 2005, to $1.17 billion; Exports to Eastern Europe and the Far East rose by 69%; Exports to Hungary, rose 130% to $9.2 million; Russia, was up 49% to $6.9 million; Czech Republic, export was up by 123% to $4.1 million; India, up 9% to $830,000; Taiwan, up 20% to $700,000. Exports to Brazil rose 19% to $7.6 million
 
There was a marked rise in exports to Western Europe. Exports to Ireland rose 136% to $6.9 million; Exports to Belgium, up 104% to $2.7 million; Spain, up 76% to $1.9 million; France, up 35% to $8 million; The Netherlands, up 6% to $34 million.
 
The industry employs 7,000 workers.