Exports to Japan only a small part of Israeli trade

Friday's earthquake and tsunami will have little or no effect on Israeli exports.

Although Japan is the world's third largest economy (it was overtaken by China last year), it is only the 21st largest export market for Israel, accounting for just 1.1% of Israel's exports, the Israel Export and International Cooperation Institute said today. Therefore, Friday's earthquake and tsunami will have little or no effect on Israeli exports.

540 Israeli companies exported at least $10,000 worth of goods or services to Japan in 2010. Total exports, including diamonds, totaled $654 million in 2010, 24% more than in 2009, while imports from Japan rose 17% to $1.8 billion in 2010.

Israel's trade deficit with Japan of $1.1 billion is the fifth largest among Israel's trade partners.

Japan is Israel's 11th largest source of imports, 64% of which are motor vehicles, and imports of which rose 14% in 2010.

Published by Globes [online], Israel business news - www.globes-online.com - on March 13, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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