Statistics

Annual Report: No. 21 Israel - Glittering give-and-take

July 23rd, 2006

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Diamonds are putting the luster on trade between the United States and Israel.

The United States imported $8 billion-worth of the gems in 2005, up 16 percent from a year earlier. On the other side of the trade exchange, the United States saw its diamond exports jump 26 percent to total $3.7 billion during the same period.

Diamonds proved to be the single most important commodity as the two countries posted a total of $26.6 billion in trade, a jump of 12 percent from 2004. Just as overall trade expanded, so did the U.S. deficit with Israel. The United States closed 2005 with a deficit of more than $7 billion.

The biggest gain among U.S. imports came in the area of pharmaceuticals. In 2005, U.S. purchases of medicines and biotechnology products rose 61 percent to $1.3 billion.

Electric equipment for line telephony also emerged as a key import, jumping 27 percent over the year before to value $450 million. And aircraft imports improved 38 percent to $298 million. Israel Aircraft Industries builds both military and private jets.

U.S. imports of parts for large aircraft and regional jets also escalated. Imports of parts for large aircraft rose 20 percent to $225 million while regional jet parts gained 17 percent to end the year at $205 million.

The United States also exported $649 million-worth of airplane parts to Israel in 2005, a jump of 23 percent, although U.S. aircraft exports fell 1 percent to $635 million.

Diamonds dominate trade, but pharmaceuticals are on the rise.

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Annual Report: No. 25 Australia- U.S. posts $8.4 billion surplus (07/26/2006)

Annual Report: No. 23 Hong Kong - U.S. expands trade surplus (07/25/2006)

Annual Report: No. 21 Israel - Glittering give-and-take (07/23/2006)

Annual Report: No. 20 India - Rising player on trade scene (07/22/2006)

Annual Report: No. 19 Thailand - Gains seen in tech products (07/21/2006)

Annual Report: No. 16 Singapore - U.S. sees growth in surplus (07/20/2006)