IEICI CEO Avi Hefetz
Photo: Shmuel Rahmani
Life sciences exports up 14% in Q1
Data compiled ahead of ILSI–Biomed Israel 2010 Week shows life sciences industry generated $1.7 billion in exports. Sector not susceptible to European Union crisis, says CEO of Export Institute
The exports of the Israeli life sciences industry totaled $ 1.7 billion in the first quarter of 2010, an increase of about 14% compared to the same period last year, the Israel Export and International Cooperation Institute reported last week.
According to IEICI CEO Avi Hefetz, this increase stems from a 15.4% increase in the export of medications, which has totaled $ 1.3 billion. Medical and surgical instrumentation saw a 7.5% increase, totaling about $ 306 million.
The information, based on an analysis made by the institute's financial unit, was collected ahead of the ILSI–Biomed Israel 2010 Week, the key annual life sciences event in Israel, which is being held this week at the David Intercontinental Hotel in Tel Aviv.
Geographical analysis of the life sciences export data for the first quarter of the year shows that 68% of the total exports – totaling 1.1 billion – were sent to North America, a 4% decrease compared to the same period last year.
The export to the European Union – totaling $346 million – saw a 23% rise compared to the same period last year. The export of the life sciences sector accounted for a share of 21% of the total exports. According to Hefetz, "Compared to other sectors, the life sciences sector is not susceptible to the European Union crisis."
The exports to Central and South America – 2% of the life sciences sector's total export – totaled $ 32 million, with a 21% rise compared to the same period last year. The exports to Asia – $76 million – with a 19% rise compared to the same period last year, constituted about 4.5% of the sector total exports.
The sector's exports to Africa totaled $ 3.8 million, which is about 0.2% of the sector's total export during the first quarter.
In 2009, the life sciences industry's total exports amounted to $ 6 billion, an 8% decrease compared to the same period last year. This decrease resulted from a 7% reduction in the export of medications, which totaled $ 4.6 billion in the previous year. The clinical equipment and instrumentation export saw a reduction of 13%, totaling $ 1.4 billion.
A geographic division of the 2009 figures shows that 71% of the total export, constituting $4.3 billion, were to North America. The exports to the European Union totaled $ 1.1 billion and constituted 19% of the exports of the entire sector.
The exports to Central and South America – 2% of the life sciences industry's total exports, totaled $ 98 million, and the exports to Asia – $289 million, constituted about 5% of the sector's total export.
Some 265 life sciences companies exported in 2009 at more than $ 100,000, with 31 exporting at more than $ 10 million, 47 exporting between $2-10 million, and 187 small exporters exporting between $100,000-2 million.
