The official data showed that Turkey's exports reached 1.9 billion dollars in 2008 from 1.6 billion dollars in 2007. Turkey's imports from Israel rose 36 percent in 2008 to 1.4 billion dollars.

One of the main trade items between two countries is the defense industry. Turkey had auctioned the modernization of the M-60 tanks to the Israeli IMI for 668 million dollars.

The IMI also won the modernization of the 300 military helicopters for 57 million dollars.

Turkey signed three other deals with Israel for the modernization of war jets. The financial amount of these agreements is 850 million dollars.

The tension rose between Turkey and Israel after Ankara harshly criticized the Israel's operations in the Gaza Strip which left more than 1,300 people killed.

The Turkish Prime Minister Tayyip Erdogan's reaction to storm out of the Gaza session in Davos is unlikely to effect the mutual relations, experts say.