1Q - Trade with Asia up by 15%

According to a survey based on statistics published by The Central Bureau of Statistics and carried out by the economic department of the Federation of Israeli Chambers of Commerce, Israeli trade with Asia, excluding diamonds, grew by us$315, almost 15% ,in the first quarter of 2005, compared with the corresponding quarter of 2004.
 
Israeli exports to Asia rose by 5% to $900 million, mostly machinery and electrical equipment, optical devices, and chemicals industries products.
 
Israeli imports from Asia rose by 22% to $1.5 billion, mostly machinery and electrical equipment, vehicles, textiles, chemicals industries products, plastics, and wood. Israeli trade with Asia rose from $2.1 billion in the first quarter of 2004 to $2.4 billion in the first quarter of 2005.
 
Trade with Asia accounted for 16% of total Israeli foreign trade in the first quarter of 2005, 14.2% of total exports and 17.5% of total imports.
 
Mr. Uriel Lynn , Chairman of federation, said in a press release that the increase in trade with Asian countries indicate the healthy involvement of the Israeli economy in the global economy in general and in the Asian economy in particular.