Israel's exports total only $7 billion in October-November 2011
צילום: אבישג שאר-ישוב
October-November see drop in exports
Export Institute chairman says decline in Israel's exports is main cause of economic slowdown
Decline in Israel's exports abroad continues: October and November 2011 saw a 1.1% drop in exports (excluding diamonds) compared to the two previous months (August-September).
Deducting the high-tech industry, exports fell by 7%. Deducting medications, exports dropped by 3.1%.
According to Israel Export and International Cooperation Institute Chairman Ramzi Gabai, "The decline in exports is the main cause of the slowdown. A $1 billion drop in exports reduces economic by growth by some 3%, leading to the loss of about 3,000 jobs within several months."
The export of goods totaled only $7 billion in October and November. The drop in exports has continued, alternately, since February-March 2011, with export volumes falling 5.3% throughout this period.
