Weak dollar – FICC sees 2006 imports rising

The expected growth will put the total number of imports for 2006 at $5.9 billion, an increase of $590 million over 2005
 
The Federation of Israeli Chambers of Commerce (FICC) said last Wednesday that imports in consumer goods and durable products will increase by 11% this year due to weakness in the US dollar.
 
FICC chief economist, Israela Mani, predicted that The expected growth will put the total number of imports for 2006 at $5.9 billion, an increase of $590 million over 2005.
 
Mani arrived at the forecast after comparing the first three quarters in 2005 with the same period in 2006, during which imports increased by 9%. She added that in addition to the decline in the US dollar, the rise in personal income contributed to the increase.
 
The study also noted that the growth in 2006 reflects a 12.4% increase in consumer products such as medicines and apparel, as well as a 10% increase in durable goods, household appliances & electronic products.