Industry export growth recovered in the July to August period after a moderate downturn in the second quarter, the Manufacturers Association said on Sunday.
"In the months July to August, industry saw renewed growth of exports," said Roby Ginel, head of the economics division at the Association, noting that exports rose 5 percent in real terms generating $5.8 billion after falling 2% in the second quarter.
Ginel added that in the July to August period exports of the mixed technology sector grew 11% in real terms after a 3% drop in the second quarter, while the machine and equipment sector rose by 16% during the same period and the chemicals and electrical equipment sectors each saw increases of 5%. At the same time, exports in the hi-tech sector rose by a moderate 1.5% in real terms, mainly supported by the 63% surge in exports of aircraft parts.
Exports by the traditional industry grew by 1.5% in real terms in July and August after rises of 0.5% in the second quarter and 1% in the first quarter. Export growth in traditional industry was driven by an increase of 6% in exports of the wood, paper and printing sector. Textile and clothing exports rose by a moderate 0.5%, while food exports dropped 2.5% in real terms.
Also on the downside, exports of the mixed traditional sector fell 3.5% in real terms in July and August after growing at an average quarterly level of 3.5% over the past 18 months. Within the sector, metal exports dropped 6% and exports of rubber and plastics fell 3%.
Separately, the Manufacturers reported Sunday that Regev Stainless Steel Industries Ltd. has won a tender to supply 30 stainless steel tanks for the Near East factory in Nablus in a deal worth NIS 3 million.
The tanks tailored for the production of oil have a capacity of between 11,000 and 56,000 liters for the storage of a total of 1.5 million liters. Michael Gamus, CEO of Regev Stainless Steel Industries, said that the first contact with Near East was initiated by the USAID Palestinian Agribusiness Partnership Activity (PAPA) project.
In addition, Gamus revealed that the company was in advanced talks with a dairy plant in the West Bank over the supply of milk tanks in a deal worth NIS 2.5m.