Israel's new export destination - Iraq

Israel exported $2 million worth of defense and consumer products to the US Army operating in Iraq.

Israel exported $2 million worth of goods to Iraq in the first quarter of 2004, the first exports to that country. Most of the goods were defense and consumer products for the US Army.

Israeli exports to Arab states rose by 78% in the first quarter to $38 million. There were also $3 million in indirect exports to Arab states via third parties by joint projects of Israeli and Arab companies. Most of the increase was in exports to Jordan and Egypt. Imports from Arab states rose by 37% in the first quarter to $21 million.

Israel Export and International Cooperation Institute director Yechiel Assia believes that the security calm may lead to increased exports to Arab states in 2004.

Exports to Jordan grew by 79% in the first quarter to $28 million, thanks to the expansion of textiles and clothing manufacturing in the Qualified Industrial Zones (QIZs). Most exports comprised textile products, vehicle equipment, wood and furniture, and paper and printing. Imports from Jordan rose by 29% to $12 million.

Exports to Egypt rose by 25% in the first quarter to $6 million, mostly textile and clothing, leather, chemicals and refined oil products. Imports from Egypt rose by 48% to $9 million.

Published by Globes [online] - www.globes.co.il - on June 3, 2004

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