A bright spot in 2008 exports was pharmaceutical exports.
The Israel Export and International Cooperation Institute reports that high-tech exports, excluding pharmaceuticals, totaled $12.2 billion in 2008, just 0.3% more than in 2007. High-tech exports are a main economic growth driver.
High-tech exports, including pharmaceuticals, totaled $17.2 billion in 2008, up 5% on 2007. Most pharmaceuticals exports are by Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA).
Pharmaceuticals exports grew by 37% to $5 billion in 2008. Exports of optical and digital photography equipment rose by 87% in 2008 to $387 million; and exports of automated data processing equipment rose by 8% to $846 million.
However, exports of medical devices fell by 1% to $1.5 billion; exports of electronics equipment fell by 1% to $656 million; exports of office machinery also fell by 1% to $172 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 1, 2009
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