In its first published statement of the finances of the state of Israel from its establishment, on May 14, 1948, to March 31, 1949, the Finance Ministry today revealed that for its first ten and one-half months the Israeli Government had a revenue which was 1,355,000 pounds ($4,065,000) above its expenditures.
For the first quarter of 1949, the statement revealed, imports into Israel amounted to 15,500,000 pounds, while exports came to 5,050,000 pounds. The United States led the list of nations selling its products to Israel, accounting for 23 percent of the imports. The British Commonwealth, exclusive of Canada, sold the Jewish state 12 percent of its imports; Italy, seven present; and the Eastern European bloc, eleven percent. Israel’s chief customer was Britain.
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