In the decade since 1995, the number of textile workers has plummeted 60%, amounting to 29,700 lost jobs to 18,700 today. Manufacturers predict an additional 1,700 lay-offs this year, reducing the industry? workforce to 17,000.
Last year? 1-1.5% growth in sale included 8% growth in domestic sales to $969 million, while exports were unchanged at $1.06 billion. Textile exports to Egypt, rose to $22 million following the signing of the tripartite US-Israel-Egypt qualified industrial zone (QIZ) agreement for joint exports to the US, and are predicted to grow 60% to $35 million in 2006.
On the other hand, textile exports to Jordan fell 8% to $95 million, because of Jordan? free trade agreement with the US, which reduced the advantages of the US-Israel-Jordan QIZ agreement, and because of the Egyptian QIZ.
Israel? textile imports rose 6% in 2005 to $1.52 billion. Investment in machinery and equipment rose 23% to $80 million, due to the need to invest in technology improvements and innovative labor-saving machinery.
Textile manufacturers predict 6% growth in sales in 2006 to $21.6 billion. Exports are projected to grow by 3-4% to $1.1 billion, and domestic sales are expected to increase by 5% to $1.06 billion, thanks to rising demand in the expanding market.
