Heading to Turkey?
Turkey is Israel's 3rd export destination
Economic relations between Jerusalem, Ankara appear unaffected by political tensions
Israel Export and International Cooperation Institute (IEICI) on Monday revealed Israel's
leading export destinations in the first quarter of 2011. Despite political tensions, which worsened a year ago following the Gaza flotilla affair, Turkey was ranked third – up from the ninth place last year.
China maintained the fifth place, India fell to the eighth place from the second place, and Spain was replaced by Canada in the top 10.
Israel at 63
Figures published in honor of Independence Day show exports grow 13,400 times since State's establishment in 1948. Diamond exports rise from $2.8 million to $8.9 billion
An analysis of the figures points to changes in the ranking of Israel's main export destinations in the first quarter of 2011. According to an IEICI analysis, the United States remains in the first place with exports totaling some $3 million (excluding diamonds) – a 12% increase compared to the same period last year.
Holland ranked second, up from the third place last year, serving as Israel's biggest export destination in Europe – despite a slight drop (3%) in exports, which totaled some $517 million.
The export of goods to Turkey, excluding diamonds, totaled $500 million – a 73% rise compared to the same quarter last year. IEICI officials stressed that the exports to Turkey recorded the biggest growth in the past year.
"The sharp rise in exports to Turkey stems mainly from the growth in the chemicals and oil refining industries, which rose by 57% compared to the same period last year, totaling $260 million," the IEICI said in a statement.
Germany was ranked fourth – up from the sixth place in the first quarter of 2010. "The export of goods to Germany, excluding diamonds, totaled some $473 million – a 22% increase compared to the same period last year," the report's authors wrote.
"China, in the fifth place, is solidifying is status as a stable and growing export destination and as Israel's biggest export destination in Asia. The export of goods to China, excluding diamonds, totaled some $443 million – a 12% rise compared to the same period last year."
India, which was ranked the second export destination in the same period last year, fell to the eighth place this year, with exports totaling $336 million – a 45% drop compared to same period last year.
"It should be noted," the IEICI said, "that the drop stems mainly from an exceptional growth in the exports to India in last year's first quarter.
"The export industries which led to the sharp drop were telecommunications, which fell by 45% to $108 million, and the aircraft industry, which was affected by a unique deal in 2010 and fell from $100 million to zero."
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