Anti-Israel Boycott Fail: While Israeli Exports to Europe Down, Sharp Rise in Sales to US, Asia

Activists who promote the anti-Israel boycott movement may believe they are negatively impacting Israel’s economy by boycotting and labeling its products, but they are hugely mistaken. Israel’s Central Bureau of Statistics released data showing Israel’s exports are actually up in the US and Asia.

The data on Israeli exports trends for the period of September through November 2015, released by the Central Bureau of Statistics show decrease of 10.3% in exports to EU countries. At the same time, there has been an increase 24.8% in exports to the United States, and an increase of 10.1% in exports to Asia. There has been a 5.0% decrease in imports of goods from Asia.

The same report shows a positive change in trade with South Africa. Between 2008 and 2014, the balance of trade in goods between Israel and South Africa moved from a deficit of $33.9 million to a surplus of $227.3 million.

The gross export of goods, not including diamonds, in November 2015 totaled $3.9 million, and the trade deficit in trade in goods was $0.67 billion. Of that total, 27% of the goods were exported to the EU countries, 26% to the US, 18% to Asian countries, and 19% to the rest of the world.

The trade deficit with the EU (excluding diamonds) amounted in January-November 2015 to $6.24 billion, an increase of 20.6% compared with the deficit in the corresponding period in 2014

The trade deficit with Asian countries (excluding diamonds) amounted in January-November 2015 to $1.62 billion, a drop of 50.3% compared with January-November 2014

The balance of trade in goods (excluding diamonds) with the United States recorded in January-November 2015 showed a surplus of $3.08 billion, compared with a surplus of $2.44 billion in January to November 2014, an increase of 26.2%.

According to data, imports from the EU rose by 2.4% on an annualized basis in September and November 2015, following an ongoing increase of 11.0% in June-August 2015. The first eleven months of the year, showed a rise of imports of goods (excluding diamonds) from Ireland (from $743.6 million to $1,155 billion), Slovakia from $178.3 million to $235.2 million, and Bulgaria from $57.2 million to $73.5 million.

Imports from the US rose by 0.8% on an annualized basis in September and November 2015, following an increase of 3.1% in June-August 2015.

In September-November 2015, import of goods from Asia was decreased by 5% on an annualized basis, following a decline of 7% in June-August 2015. In the first eleven months of the year imports of goods (excluding diamonds) fell mainly from the Philippines, from $76.1 million to $54.1 million; Indonesia from $62.3 million to $49.1 million; and Malaysia from $50.7 million to $14.7 million dollar.

By: JNi.Media