IEICI: Exports down 32% in Q1

The export of medications, which is the main industry in the export of high-tech equipment, rose by 41%, totaling $871 million
 
The Israel Export and International Cooperation Institute reported last week that a sharp drop had been recorded in exports during the first quarter of 2009.
 
The IEICI noted that a sharp drop was recorded in the exports of metals, chemicals and diamonds, while increase was recorded in the export of medications, electronic components and transport tools.
 
The exports of high-tech equipment, saw a 5% rise compared to the first quarter of 2008, totaling $1.6 billion.
 
The export of medications, which is the main industry in the export of high-tech equipment, rose by 41%, totaling $871 million. Other industries which saw an increase in exports were the electronic components industry (139% increase to $213 million), the transport tools industry (112% rise to $25.5 million), and the electronic equipment industry (54% rise to $49 million).
The export of goods from Israel to the United States was down 34% in the first quarter of 2009 compared to the parallel period last year.
 
According to the data, the exports to the US totaled some $3.3 billion between January and March of 2009.
 
The export of diamonds to the US, which constitutes about 29% of the total exports to that destination, recorded 57% drop in the first quarter compared to the parallel. The export of goods excluding diamonds saw a 15% decrease in the first quarter comparedto last year. The chemicals industry recorded a 44% decline in exports to $173 million.