Manufacturers: sharp drop in industrial exports

Exports by mixed high-tech and mixed-low technology industries fell by 5-12% in the second quarter, and export growth by low technology exports slowed sharply
 
Data released last week by the Manufacturers Association of Israel show that industrial exports fell by 2.5% in real terms in the second quarter of 2010. Industrial exports, excluding pharmaceuticals, fell by 8.5%.
 
Exports by mixed high-tech and mixed-low technology industries fell by 5-12% in the second quarter, and export growth by low technology exports slowed sharply. Conversely, high-tech exports grew, thanks to a 37% increase in pharmaceutical exports. A breakdown of exports by industry found that exports by mixed high-tech industries fell by 12% in the second quarter, after three continuous quarters of growth by 7-20% per quarter. Chemicals exports fell 17% and electrical equipment exports fell 19%, which were partly offset by a 17% increase in machinery exports.
 
High-tech exports (electronic components, communications and scientific equipment, avionics, and pharmaceuticals) grew 7% increase in real terms in thesecond quarter, after growing by an average of 0.7% per quarter since the fourth quarter of 2009. The current quarter's growth was essentially due in full to pharmaceutical exports, which grew 37% in the second quarter, while other high-tech exports fell by 7% in real terms.