The biggest export gains were registered in exports to South America and Asia, while exports to the US dropped
A survey carried out by the Manufacturers Association and published last week show thatindustrial exports rose in 2006 by 11%, to $29.3 billion, not including diamonds. The survey points out that the biggest growth was experienced in high-tech exports, which rose 20% to $14.1 billion. This was almost half of Israel's total exports.
Nevertheless,according to the Manufacturers Association there was a significant decrease in the profitability of exports in the last quarter of 2006.
The rise of the shekel against the dollar, and a 5-percent increase in wage costs per production unit, accounted for the reduced profitability. The biggest export gains were registered in exports to South America and Asia, while exports to the U.S. dropped.