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Production on the rise (illustration) Photo: Index Open
Production on the rise (illustration) Photo: Index Open

Report: Economic recovery continues

Central Bureau of Statistics data for August-October 2009 show rise in volume of exports, increase in demand for goods and raw materials in Israeli economy

Published: 12.05.09, 13:42 / Israel Business

The economic indicators for the months of August to October 2009 point to a recovery in the Israeli economy, according to figures published last week by the Central Bureau of Statistics.


The data showed that exports, imports, production, the proceeds of the commercial and services industries and the consumer price index all rose over the reported period.


The export of goods (excluding diamonds, ships and planes) rose between August and October by 9.9% in a quarterly calculation (46.1% in an annual calculation), following a 7.2% rise in a quarterly calculation (32.1% in an annual calculation) in the previous months.


Industrial exports were up 10.3% in a quarterly calculation (47.9% in an annual calculation). The most noticeable increase was in the advanced technology industry (electronics, aircraft and medications).


The industrial production was also up in August-September 2009 by 2.6% in an annual calculation, following a 1% rise in an annual calculation over the two previous months.


The most noticeable rises were recorded in the mixed-traditional technology industries – 8.9% in an annual calculation and in mixed-advanced technology industries by 4% in an annual calculation.


The import of raw materials (excluding diamonds and energy materials) rose by 11.3% in the months of August to October 2009 on an annual calculation, following a 6.2% rise on an annual calculation in the three previous months.


Demands also recorded an increase between August and October. The retail commercial proceeds index, which is an indicator for demands in the local market, was up 3.6% between August and October 2009 (in an annual calculation) – a more moderate rise, compared to the previous one, of 5.2%.


In addition, a 9.1% rise was recorded between July and September 2009 in the total credit card purchases of private consumers in an annual calculation, following a 9.2% rise in the three previous months.


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