Israeli Economy Still Looks Strong
by Yated Ne'eman Staff
The picture for the first 10 months of the year is still
good, despite more than a month and a half of Palestinian
attacks. High-tech, which accounts for 57 percent of
industrial exports, went up 35 percent in dollar terms
compared to last year. Electronics did even better, with a
300 percent rise in exports, while computers and office
machines gained 39 percent.
Industries involving both high-tech and more traditional
technologies, such as the chemical industries, oil refinery
products, rubber and plastic, metal and minerals, which
constitute 31 percent of Israel's industrial exports, went
up 12 percent in the first 10 months of 2000 compared to
1999. Traditional industries (including textiles, food,
leather and paper), which account for 12 percent of
industrial exports, went up 5.7 percent during this period.
Diamond exports were up 9 percent in August through October,
following a 2.7 percent rise from May to July.
Imports went up 6 percent in October, after they dropped 0.7
percent in September and a 1.4 percent in August. Of
October's $3.07 billion worth of imports, 43 percent were by
raw materials; 28 percent fuel, diamonds and planes; 16
percent machinery, equipment and trucks; and 13 percent were
The average import of energy products (such as gas and oil)
between July and October 2000 was $346 million a month,
compared to $261 million between January and June. The 33
percent increase is attributed mainly to the global rise in
Israel's trade deficit in October was $486 million. This is
the highest level, after an average in July-October of $392
million. This figure does not include fuel and diamonds.
The trade deficit has been going up at an average of 4
percent a month since June 2000, after a steady decline
between April 1999 and May 2000.