Imports of consumer goods, particularly motor vehicles, rose dramatically in September 2005, reflecting a healthy economy that is growing at a five percent annual rate.
Imports of private cars were up by 40% over September last year. But the ongoing holiday shopping spree is in no way limited just to cars. Imports of most consumer goods rose significantly last month, as compared to September 2004.
Leading the way were washing machines, up by 78%, followed by dish washers, up by 72%, dryers up by 62%, and television sets up by 33%. Imports of DVD players, a standard appliance in most Israeli homes, were down by 7.5%, perhaps due to market saturation.
Although imports of old technology VCR players also dropped by 14%, imports of home entertainment systems jumped by 37%.
September 2004, apparently, was a particularly bad month for imports, so the figures are less dramatic when measured in annual terms. Since the start of 2005, imports of private vehicles are up by 4.3% to a total of 103,592 cars, and imports of electrical appliances are up by 4%.
The improving economic outlook, probably serves as the best explanation for a dramatic 30% rise in commercial vehicle imports since the start of the year.
Another reliable indicator of economic expansion, imports of materials to be invested and used in output and production, rose by a 15.6% annual rate (excluding ships and planes) during the June-August 2005 period.
In that same period, proceeds from retail businesses rose at a 7.1% annual rate, with chain stores pulling in 5.6% more business. From January to August, the amount of credit card transactions registered by private consumers rose by a healthy 8.8%.
Perhaps the brightest economic picture appeared in the hotel industry, with overnight stays up by an annualized 12.9% from June to August, after rising 74% in May and over 100% from February to April.
In other good economic news, “Institutional Investor” magazine improved Israel’s credit risk rating, moving the country up three places to number 44 on its international rankings list. On a scale of 100, Israel scored 64.4.
On the downside of recent economic news, Israel fell from 19th to 27th place in the World Economic Forum’s ranking of global competitiveness, though ahead of China and India which were rated 49th and 50th, respectively.
Imports of private cars were up by 40% over September last year. But the ongoing holiday shopping spree is in no way limited just to cars. Imports of most consumer goods rose significantly last month, as compared to September 2004.
Leading the way were washing machines, up by 78%, followed by dish washers, up by 72%, dryers up by 62%, and television sets up by 33%. Imports of DVD players, a standard appliance in most Israeli homes, were down by 7.5%, perhaps due to market saturation.
Although imports of old technology VCR players also dropped by 14%, imports of home entertainment systems jumped by 37%.
September 2004, apparently, was a particularly bad month for imports, so the figures are less dramatic when measured in annual terms. Since the start of 2005, imports of private vehicles are up by 4.3% to a total of 103,592 cars, and imports of electrical appliances are up by 4%.
The improving economic outlook, probably serves as the best explanation for a dramatic 30% rise in commercial vehicle imports since the start of the year.
Another reliable indicator of economic expansion, imports of materials to be invested and used in output and production, rose by a 15.6% annual rate (excluding ships and planes) during the June-August 2005 period.
In that same period, proceeds from retail businesses rose at a 7.1% annual rate, with chain stores pulling in 5.6% more business. From January to August, the amount of credit card transactions registered by private consumers rose by a healthy 8.8%.
Perhaps the brightest economic picture appeared in the hotel industry, with overnight stays up by an annualized 12.9% from June to August, after rising 74% in May and over 100% from February to April.
In other good economic news, “Institutional Investor” magazine improved Israel’s credit risk rating, moving the country up three places to number 44 on its international rankings list. On a scale of 100, Israel scored 64.4.
On the downside of recent economic news, Israel fell from 19th to 27th place in the World Economic Forum’s ranking of global competitiveness, though ahead of China and India which were rated 49th and 50th, respectively.