Israel export treemap from MIT Harvard Economic Complexity Observatory (photo by Economic Complexity Observatory, MIT Media Lab and the Center for International Development at Harvard University.)

Israeli Exports to Egypt Soar; Imports From Egypt Plunge

Author: maariv Posted February 8, 2013

Israeli exports to countries in the region are marked by sharp fluctuations: In the first quarter of the year, Israeli exports to Egypt and Jordan have soared, while exports to Turkey and Greece have plunged, according to foreign-trade data recently released by Israel's Central Bureau of Statistics.

SummaryPrint Israeli exports to Egypt quadrupled in the first quarter, and its exports to Jordan rose 30%, Yossi Greenstein reports. Meanwhile, Egypt's exports to Israel plunged by 72%, and Israeli exports to Turkey and Greece fell 41% and 16%, respectively.
Author Yossi Greenstein Posted February 8, 2013
TranslatorHanni Manor

Israeli exports to Egypt have soared in the first quarter of the year, to a record sum of $94 million — quadruple that of the corresponding quarter last year, which stood at a mere $23 million, notwithstanding the events in Egypt, which have adversely affected its economic situation. In March 2012 alone, Israeli exports to Egypt reached a record sum of $48 million, as compared to $11 million in March 2011. At the same time, imports from Egypt to Israel nose-dived by 72% in the first quarter of 2012.

Israeli exports to Jordan have also increased significantly in the first quarter of 2012 — at a sharp rate of 31% — amounting to $56 million, compared with $39 million in January to March 2011.

On the other hand, Turkey and Greece have enjoyed fewer Israeli-made products. Israeli exports to Turkey plummeted in the first quarter of the year by 24%, to $384 million, compared to $510 million in the corresponding quarter last year. In March 2012 alone, exports to Turkey dropped by 41% — from $235 million in March 2011 to only $140 million. Israeli exports to Greece, which is grappling at present with a recession and a grave debt crisis, have declined by 16% in the first quarter of the year, falling to $36 million.

Read More: http://www.al-monitor.com/pulse/business/2012/05/exports-to-egypt-have-soared-in.html

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