Figures published yesterday by the Ministry of Industry, Trade, and Labor show that Israeli exports to Asia totaled $4.6 billion in 2003, up 9%, compared with 2002. Imports grew 6% to $5.2 billion. Israel’s main Asian export targets were Hong Kong - 21% of Israeli exports to Asia, India 15%, Japan 14%, China 13%, and Thailand 7%.
Israel’s leading exports to Asia in 2003 were machinery, devices, and electronics 35% of total exports to Asia; medical equipment 8.7%; and chemical products 8%. The leading Asian exporters to Israel were Hong Kong 24% of Israel’s imports from Asia, China and Japan 16% each, India 13%, South Korea 10%, Taiwan - 7%, and Thailand 6%.
Israeli exports to China were up 42% to $585 million in 2003. Diamonds accounted for only 14% of exports to China, compared with 19% in 2002. Israeli imports from China grew by 27%.
The Ministry of Industry, Trade and Labor foreign trade administration said that exports to China were expected to rise again this year, due to lower customs duties and structural changes in China.
Published by Globes [online] - www.globes.co.il - on February 2, 2004