Although Japan is the world's third largest economy (it was overtaken by China last year), it is only the 21st largest export market for Israel, accounting for just 1.1% of Israel's exports, the Israel Export and International Cooperation Institute said today. Therefore, Friday's earthquake and tsunami will have little or no effect on Israeli exports.
540 Israeli companies exported at least $10,000 worth of goods or services to Japan in 2010. Total exports, including diamonds, totaled $654 million in 2010, 24% more than in 2009, while imports from Japan rose 17% to $1.8 billion in 2010.
Israel's trade deficit with Japan of $1.1 billion is the fifth largest among Israel's trade partners.
Japan is Israel's 11th largest source of imports, 64% of which are motor vehicles, and imports of which rose 14% in 2010.
Published by Globes [online], Israel business news - www.globes-online.com - on March 13, 2011
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