Food industry 'trade deficit' widens

Imports from the US increased 17% to $37.7m. during the period, the report said, while imports from the European Union fell 2.2% to $196m. Imports of food products from China grew 50% to $6.9m.

June 7, 2007 07:14
1 minute read.


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


The country's trade deficit in the food industry widened 6.2 percent to $140.8 million during the first quarter of the year, according to the Manufacturers Association of Israel, which said Wednesday that some $345.3m. worth of foodstuffs were imported over the first three months of the year, while just $213.5m. worth of food products manufactured locally were shipped out of the country. Among imports, said the Association's report, approximately $30.4m. worth of alcoholic drinks and vinegar were brought into the country, representing an increase of 16.5% above the numbers from the same time last year, while imports of grain-based and milk products grew 25.5% above 2006's first quarter to $33m. Additionally, noted the Association, cocoa imports rose 19.6% above last year's first quarter to $26.2m., while $17m. worth of meat and fish products were imported - a rise of 63.5%. Sugar was the only import item which the Association noted as dropping this year, decreasing 28.6% to $51.4m. from last year's first quarter. Imports from the US increased 17% to $37.7m. during the period, the report said, while imports from the European Union fell 2.2% to $196m. Imports of food products from China grew 50% to $6.9m. Despite noting the increased "trade deficit," the association also pointed out that the $213.5m. worth of food exports actually represents an increase of 16.7% above exports from 2006's first quarter, a move that is attributed to the concerted effort the country's food manufacturers have made to expand into new and developing markets. This increase, said the Association, has helped "save" the industry during the dollar's current drop in value against the shekel. First-quarter exports to the European Union grew 7.3% above last year, reaching $90.2m., while exports to the US increased 23.2% to $29.2m. Israel also exported $12.3m. worth of food products to Russia and $9m. worth to China during the first three months of the year.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection


Cookie Settings