Exports to India, China double

Israeli businesses look East following the global economic crisis.

August 3, 2010 05:28
1 minute read.
ship imports exports [illustrative]

illustrative-ship imports exports 311aj. (photo credit: Ariel Jerozolimski)

Israeli exports to India and China more than doubled in the first six months of the year as businesses look to the East following the global economic crisis, the Israel Export Institute reported Monday.

“The fast growth in the markets in India and China presents opportunities for Israeli exporters who are expanding their activities to these markets,” Israel Export Institute director Avi Hefetz said in the report.

Israeli businesses have been increasing exports to India and the Far East as economic activity in parts of Europe and the US slowed down, the report said.

The surge in exports to India boosted India to Israel’s second- largest trading partner, from No. 8 last year. Exports to India in the first half of the year, not including diamonds, were worth $990 million, up 102 percent compared with the same period last year.

Exports to China were worth $755m., up 115% compared with the same period last year, making China Israel’s fifthlargest trading partner, up from No. 11 last year.

On Monday, Yavne-based technology company Orbotech signed an agreement with Beijing Oriental Electronics Technology Group for an order valued at approximately $50m.

The US maintained its position as Israel’s largest trading partner, generating exports of $5.7 billion, up 8% compared with the same period last year.

The UK remained the top market in Europe for Israeli exports. It was Israel’s thirdlargest trading partner, up from No. 4 last year, as exports grew 54% to $894m.

Holland dropped to Israel’s fourth-largest trading partner from No. 2 last year, but exports rose 21% to $891m.

Germany fell three spots to No. 6, with exports up 16% to $751m.

Exports to Italy rose 32% to $745m., making it Israel’s seventh- largest trading partner, down from No. 5 last year.

Turkey was Israel’s eighthlargest trading partner, down from No. 6 last year, but exports increased 21% to $638m. despite diplomatic tension.

France fell to Israel’s ninthlargest trading partner, down from No. 7 last year, as exports rose 16% to $595m.

Spain remained Israel’s 10thlargest trading partner, with exports up 41% to $567m

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