Export institute : 4% rise in exports to US

The Israel Export and International Cooperation Institute (IEICI) predicted last week that exports to the US in 2005 would grow by only 4%. Exports to the US rose 16% to $6.9 billion in 2004.
 
In the first half of 2005 industrial exports to the US, excluding diamonds,grew 8% to $3.48 billion.
 
High-tech exports, which according to IEICI account for 45% of all exports to the US, were up 11.2% to $1.5 billion.
 
A breakdown of exports to the US in the first half of the year prepared by the Export Institute planning, control and economic research department shows an increase of 42% in pharmaceutical exports to $618 million, a 4% rise in textile and clothing exports to $287 million, a 5% rise in telecommunications exports to $326 million, a 0.5% rise in medical and surgical equipment exports to $217.5 million, and a 32% rise in metal and metal products exports to $207.8 million.
 
The planning, control and economic research department also noted that exports to the US in the first half of the year fell 33.2% in electronic components to $147 million, 36% in chemicals and refined oil products to $301 million, 4.5% in plastics and rubber to $202.4 million and 30% in transportation equipment to $4 million.
 
Mr. Yechiel Assia Export Institute director General predicted that as a result of US economic recovery in 2005, industrial exports to the US would total $7.17 billion.
 
Assia also said that the IEICI would sponsor participation of over 100 Israeli companies in thirteen US exhibitions.