Exports to East Asia up at the expanse of US in the first two months of 2012

According to the Ministry of Industry, Trade and Labor, Israeli chemicals and pharmaceuticals target Asian markets
 
Trade data for January and February 2012 released last week by the Ministry of Industry, Trade and Labor show that Israeli exporters are targeting East Asia markets at the expense of the United States, while export growth to the European Union has slowed.
 
The ministry noted that exports to Asia in the first two months of the year jumped 16%, while exports to the United States contracted by 27% in the same period.
Meanwhile, exports to the European Union increased 5% in January and February, to US$2.2 billion.
 
Exports to the United States have been declining, as Israeli companies in the chemicals and pharmaceuticals sectors target more Asian markets.
 
The ministry noted, however, that if chemicals and pharmaceuticals are left out of the equation, exports to the United States actually rebounded, rising 5% in January-February 2012, compared with the same period of 2011.