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The U.S. Accounted for Half of All Foreign Investments in Israel Last Year

The United States accounted for half of all foreign investment activities in Israel during 1969, it was reported in the February issue of Economic Horizons, a publication of the American-Israel Chamber of Commerce and Industry, released here today. According to an article by Abraham Kiryati, director of the North American division of the Israeli Ministry of Commerce, about 123 American-Israel joint projects were implemented last year representing a total investment of $108 million. Mr. Kiryati said tourism was the largest foreign-currency industry in Israel in 1969, with a revenue of $95 million compared to $52 million in 1967 and $66 million in 1966. Of 412,300 tourists last year, 146,600 were from the United States and 14,600 from Canada, Mr. Kiryati wrote. He said that 25,000 students came to Israel in 1969, most of them from North America.

According to the Chamber of Commerce, finished diamonds are Israel’s best selling Item in the U.S. Exports in 1969 were valued at $75,836,162 compared to $72,728,889. Next on the list is fashion wear which almost doubled in value between 1968 and 1969–$8.9 million to $14.8 million. The Central Bureau of statistics in Jerusalem reported yesterday that Israel’s Industrial output increased by 16 percent in 1969 compared with 1968. The biggest rise was in electronics where output rose by 60 percent and car production where it grew by 30 percent. Metal, plastics, furniture and machinery production showed a 20 percent growth rate.

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