Israeli exports fell 12% compared with a year earlier.
Israeli exports are on a clear downward trend, show international trade figures released by the Central Bureau of Statistics today. Industrial exports, the economy's primary growth engine, fell 12% in seasonally adjusted figures from $3.6 billion in July to $3.18 billion in October.
High-tech sectors accounted for most of the drop in industrial exports, falling 15% in seasonally adjusted figures from $1.87 billion in July to $1.58 billion in October. Mixed high-tech industrial exports fell from $980 million in July to $849 million in October.
A breakdown of industrial exports by subsector (in original figures), shows that high-tech exports fell 17% to $1.5 billion in October from $1.79 billion in October 2009. Most of the drop was due to lower exports of electronic components, which were halved over the 12 months. Pharmaceuticals exports fell from $500 million in October 2009 to $412 million in October 2010.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2010
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