Data by the Israel Export and International Cooperation Institute indicate that the US was Israel's primary export destination in 2010's first half with $5.7 billion worth of exports. An 8% increase has been noted compared with 2009.
India is now ranked second with Israeli exports amounting to almost $1 billion – a 102% increase compared with 2009, when India was rated 8th among Israel's primary export destinations.
The increase in exports to India is due to growth in the fields of mining and minerals. China, which was previously ranked 11th among Israel's export destinations, is now rated 5th with $755 million worth of exports – a 115% increase.
Exports to China are mainly of the electronics, mining, minerals, and oil refinement fields.
Brazil, which is considered a sought after export destination, is ranked number 12 following a 62% increase of exports amounting to $417 million.
Shauli Katzenelson, chief economist at the Export Institute said, "This mirrors a trend we'll be witnessing in the coming years whereby the main potential for export expansion will be in the southeast Asian markets, predominantly India and China, as well as other economies such as South Korea."
Of the European countries, Britain is Israel's third largest export destination with merchandise amounting to $894 million. Holland and Germany have dropped to the 4th and 6th places, respectively.
Turkey, which was previously ranked 6th, slipped to the 8th spot with $638 million in exports. Despite losing its place, export to Turkey has actually grown by 21% in the first half of 2010. France and Spain are ranked at the 9th and 10th places.
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