LONDON (Jan. 21)
Trade between Britain and Israel continued to rise in 1957, as it had done in the past few years, and reached a new high, it was reported here today. British exports to Israel last year amounted to nearly 13,000,000 pounds sterling ($36,400,000) while imports from Israel approached 11,000,000 pounds.
Barclay’s Bank Overseas Review reported today that Israel has become the third largest exporter of cut diamonds, with diamond exports for the first nine months of 1957 amounting to $24,000,000. This, the report stressed, was an increase of more than a third over the previous year. While the United States remains Israel’s best customer, buying more than half the total exports, Israel has diversified its market and sales to Asian nations account for ten percent of the total.
Barclay’s report also forecast that $50,000,000 in personal restitution funds would be transferred from Germany to Israel during the current fiscal year, as against $27,000,000 in the last fiscal period.