Chambers of Commerce: Exports of services up 16% in first quarter

Transport services was up 7.5%, an increase of $92 million, from $1.2 billion in the last quarter of 2007 to $1.3 billion on the first quarter of 2008
 
Exports of services, compared to the 4th quarter of 2007 grew by 16% in the first quarter of 2008 to $6.45 billion, said Federation of Israeli Chambers of Commerce economics division head Israela Many.
 
She added that based on the analysis carried out at the Chamber, the increase for the whole year would be in the region of $2.5 billion.
 
Chambers of Commerce president Uriel Lynn noted it was high time government ministries would recognize the stractual changes in the Israeli economy and would understand that exports of services was one of the growth engines of the economy. Lynn added that "The weight of global services exports has increased in recent years, mainly as a result of the expansion of maritime trade, and communications, computing and infrastructure services”.
 
The study carried out by the economics division shows that transport services was up 7.5%, an increase of $92 million, from $1.2 billion in the last quarter of 2007 to $1.3 billion on the first quarter of 2008.Tourism was up from $846 million in the last quarter of 2007 to $895 million in the first quarter of 2008. In other business services the increase was 22% from $3.5 billion to $4.24 billion.