Israel’s imports, which reached a record $1.4 billion in 1970, an increase of nine percent over the 1969 level, are expected to grow at the same pace during 1971 according to”Commerce Today,” a bi-weekly publication of the U,S, Department of Commerce. The magazine says the import situation is a reflection of the rapid growth of Israel’s economy since the 1967 Six-Day War. It states, “This overall growth is likely to continue” unless it is impeded by inflation which began in 1970 and the massive trade deficits which have been financed by borrowings from abroad. “Commerce Today” says that the rate of increase in Israel’s gross national product has decreased from 14 percent in 1968, to 10 percent in 1969 and nine percent last year and is expected to be only eight percent this year. The magazine also reported that in 1970 the U.S. sold Israel $342 million worth of goods, or 23.8 percent of Israeli imports. At the same time the U.S. purchased $149 million of Israeli goods, or 19.1 percent of all Israeli exports.
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.
