Promising import statistics
Standard of living up
Consumer good imports rise by 9 percent; expected to amount to USD 4.5 billion in 2005
The standard of living in Israel continues to rise at high pace, Israel's leading newspaper Yedioth Ahronoth reported Thursday.
A forecast released by the economic department at the Federation of Israeli Chambers of Commerce revealed that by the end of 2005, the import of consumer goods to Israel is expected to grow by 9 percent compared to 2004, a growth of USD 360 million.
The import of consumer goods is expected to amount to a total of USD 4.5 billion in 2005.
The growth reflects an increase of 9 percent in the import of basic commodities and an increase of 8 percent in the import of goods such as cars, refrigerators, washing machines, television sets, DVDs, etc.
The economic department stressed that the first 10 months of 2005 saw an increase of 7 percent in the import of consumer goods to Israel, compared to the same period in 2004, and that the growth rate is still expected to rise in the last two months of the year to 9 percent.
Federation of Israeli Chambers of Commerce President Uriel Lynn said Wednesday that private consumption is one of the economy's main growth engines.
"These data best reflect the importance of economic growth in influencing the consumer's behavior and the entire economy," he said.
Lynn also estimated that the early elections will not halt the growth momentum.
