Israeli exports to Asia in January-September up 33%

Ronit Ken, head of the foreign trade administration at the Ministry of Industry, Trade, and Labor said last week that Israeli exports to Asia rose 33% in January-September 2004, to $4.3 billion.
 
Total Israeli exports rose 19% in this period. According to Ken, Israel trade with Asia totaled $9.3 billion in January-September. Imports from Asia rose 31% in January-September 2004, compared with the corresponding period in 2003, to $5 billion.
 
Ken emphasized that the Ministry attached great importance to the trade with Asia and had declared China. India and South Korea as target markets. She added that 2004 would be remembered as a busy year for Israel's trade promotion in Asia. Several trade delegations visited Asian countries, the largest of which was the trade delegation to China headed by Mr. Ehud Ulmert, Deputy Prime Minister and Minister for Industry ,Trade & labor in June and his forthcoming visit to India planned for December.
 
She added that several Asian business delegation were scheduled to attend the Telecom Israel 2004 exhibition in November.
 
Exports to Asia accounted for 18% of total Israeli exports in January-September, compared with 16% in the corresponding period last year. Imports from Asia accounted for 17% of total imports.
 
Mr. Amiram Halevy, director of Asia Pacific division at the Ministry of Industry, Trade, and Labor's foreign trade administration said the dramatic increase in trade with Asia, which began last year, was expected to continue in the next few years. The assessment was based on rapid growth estimates in Asian countries.
 
Mr. Halevy noted that Israeli exports to Taiwan rose by 112%, to India by 53%, and to China by 34%. The Chinese sphere - including China, Hong Kong and Taiwan - accounts for 43% of Israeli trade with Asia. Hong Kong accounts for 22% of Israeli exports to Asia, India - 18%, China - 13%, Japan - 12%, Taiwan - 9%, and Thailand and South Korea - 6% each. China accounted for 20% of Israeli imports from Asia, followed by India and Japan - 17% each, Hong Kong - 16%, South Korea - 11%; Taiwan - 7.5%, and Thailand - 6%. Israel's main trading partners in Asia in January-September were Hong Kong ($1.76 billion, China ($1.53 billion), India ($1.61 billion), Japan ($1.37 billion), South Korea ($812 million), Taiwan ($755 million), Thailand ($551 million), and Singapore ($436 million).