Sunday May 27, 2012

I've Been Thinking:

As expected, the 1st quarter numbers are in for Israel’s exports. Israeli exports to Turkey dropped by 26% - no surprise there.

Also fallen during the same period were exports to the United States, with a 24% drop. The reason for that drop is a change in drug imports in the US.

Interestingly, at the same time exports to the UK and China all increased dramatically. China increased their imports from Israel by 15% which amounts to $540 million while England increased their import of Israel products by $650 million which is a whopping 84% increase over the 1st quarter of last year.

These figures are important – they demonstrate economic growth in Israel. This is especially significant in a world economy that is, for the most part, suffering.

Despite the issues it confronts Israel continues to export and to be a player in world markets. Turkey wants to try to punish Israel, but none the less, they still continue to import product only in a smaller quantity. Turkey still needs Israel.

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