2007: The year of private consumption

Through July there was a 48% increase in motor vehicle imports, worth $955 million. Imports of consumer goods rose 28% for the period, compared with 2006 - a total of $4.3 billion

The Federation of Israeli Chambers of Commerce (FICC) published last week a report on the condition of the Israeli businesses sector, showing that the upward trend in consumption had not slowed down. Consumers, according to the FICC, celebrated 2007 as a year of private consumption.

Since the beginning of the year, there has been a massive increase in imports of consumer goods.
According to Uriel Lynn, president of the FICC, the reduction of indirect taxes on individuals, mainly purchase tax, have contributed dramatically to an increase in disposable income and the increase in consumer spending.

The report show that through July there was a 48% increase in motor vehicle imports, worth $955 million.
Imports of consumer goods rose 28% for the period, compared with 2006 - a total of $4.3 billion. Furniture imports rose by US$40 million (22.3%) to US$223million, and household electrical appliances were up US$194million (37%) to US$721nillion.