Exports rose by 12.7% in the first quarter of 2004, compared with the corresponding quarter last year.
The Federation of Israeli Chambers of Commerce predict that exports will grow by 8% this year and imports by 6%. The Israel Export and International Cooperation Institute earlier predicted 9.5% export growth in 2004, and the Ministry of Industry, Trade and Labor planning and economic division predicted 9-10% export growth.
A Chambers of Commerce economics branch analysis of Central Bureau of Statistics foreign trade figures for the first quarter indicate 22.3% growth in imports (excluding ships, planes, and diamonds, and seasonally adjusted). Imports rose by $1.2 billion to $6.5 billion.
Imports of consumer goods rose by 27%, investment goods by 15%, and raw materials by 24%.
Exports rose by 12.7%, or $600 million, in the first quarter. Total foreign trade rose by $1.8 billion in the first quarter, compared with the corresponding quarter last year. Imports rose by 10% in the first quarter, compared with the preceding quarter.
Published by Globes [online] - www.globes.co.il - on May 6, 2004