Israel’s industry, particularly the export branch, is growing more rapidly than any other area of the economy. Moshe Zanbar, Governor-designate of the Bank of Israel, reported yesterday in an address to the Press Club, Zanbar, an economic advisor of the Finance Ministry, was appointed to the governorship of Israel’s national bank succeeding the retiring David Horowitz. He said manufacturing output rose by 12 percent in 1970 compared to an over-all increase of 8-9 percent in the gross national product.
Industrial exports rose by one quarter in the last nine months compared to the corresponding period of 1970 and export industries are growing at double the rate of non-export industries, he said. Productivity in the country as a whole rose by 4-5 percent and in industry by 6.9 percent this year, partly due to increased mechanization. Zanbar said that industry employs almost one-quarter of Israel’s civilian manpower. The Bank of Israel balance sheet for Sept. 1971 disclosed that the country’s foreign currency reserves rose by $89 million to $545 million. The increase was due in part to the revaluation of various foreign currencies in terms of the dollar.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
