18% rise in industrial exports to the enlarged European Community in first half of 2004

Data analysis for the first six months prepared by the Export Institute on the Israeli European bilateral trade, indicates better than expected recovery.
 
The first half of 2004 saw an 18% increase in industrial exports (excluding diamonds) to the enlarged European Union in comparison with the same period last year, totaling $4.07 billion.
 
The analysis which was made before the port strike during July / August , shows that for the whole year, the increase in industrial exports could reach 10%. The analysis was issued by the Export Institute Chairman Mr. Shraga Brosh.
 
Mr. Brosh noted that the rise was largely affected by the 10% increase of the Euro against the dollar. However, according to the report measurements of  trading in Euro values, indicates a moderate 5% increase.
 
European imports from Israel, in the first half of 2004, totaled $6.2 billion, a 16% rise in comparison with the same period last year (a 3% rise in Euro monetary value). The increase was mainly to Germany, Holland, Italy, France & Belgium and was primarily characterized by the chemical, oil refinery, rubber and plastic product industries.