Asia overtakes US as Israeli export market
Between October 2011 and January 2012, exports to Asia reached $3.1 billion compared with $2.9 billion to the US.
The Israel Export Institute's data showed that exports to the US fell 7% from the corresponding period the year before. As a result, the Institute is considering updating the export forecast for 2012.
Exports to the US during this period totaled $2.9 billion, while exports to Asia were $3.1 billion. Europe remains the largest market for Israeli exports with 35% of goods sold there. Exports to Europe totaled $5 billion, up 5% from the corresponding period last year.
Market sources believe that one of the reasons for the fall in exports to the US resulted from the completion of a deal by Kibbutz Sasa's Plasan to supply defense components for APCs. The supply was for APCs used by the US army in Iraq.
Published by Globes, Israel business news - www.globes-online.com - on March 5, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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