Q1: exports to USA up 9%

Analysis made by the planning, control and economic research department of the Israel Export and International Cooperation Institute and published last week showed that Industrial exports to the USA, excluding diamonds, rose by 9% to $3.6 billion in the first quarter of 2005.
 
An analysis of the figures shows that high-tech exports to the USA totaled $810 million in the first quarter, 5% more than in the first quarter of 2004. Pharmaceutical exports were up 9% to $284 million, and textile exports grew 2% to $143 million.
 
Exports of telecommunications equipment to the USA rose 6.7% to $153.6 million, exports of medical and surgical items were up 9.5% to $109.6 million, and exports of basic metals grew by 34.7% to $694 million.
 
The Export Institute's economic research department believes, according to the analysis, that growth in exports to the USA was due mainly to expansion in the USA economy, particularly in the high tech sector.
 
The Institute's economic research department also predicts that industrial exports to the USA will grow 4% to $15 billion in 2005, mostly as a result of the fast economic recovery in the US economy, especially in high tech, and due to the Export Institute’s marketing promotion activities.
 
This year the Export Institute plan widespread export promotion activity in the USA and Canada. Some 150 Israeli exporters will participate in thirteen separate exhibitions in the US, and nine delegations with 90 exporters will visit the USA for business meetings.