Ministry of Industry: Export growth slowing

The Ministry of Industry, Trade and Labor announced last week that in January-July 2005 industrial exports totaled $18.6 billion, 8.5% more than in the corresponding period of 2004. Industrial exports, excluding diamonds, grew 10.3% to $14.6 billion.
 
The Ministry published statistical data for January-July indicated that industrial export growth would be slower this year compared to 2004. The Ministry noted, however, that compared to last year where in January-July High-tech exports grew by 22% this year high-tech exports were only 5.6% higher in January-July, compared with the corresponding period of last year.
 
Regarding the High-tech sector the Ministry also noted that: High-tech exports rose by 5.6% in January-July to $6.51 billion; Exports of medical and industrial monitoring and supervisory equipment rose 17.3%; Pharmaceutical exports rose by 41%, compared with the corresponding period of last year; Electronics components exports were down 11.4%.
 
The Ministry noted that the fall of Electronics components exports was mainly due to plunging prices caused by falling demand in the international semiconductor industry.
Exports of electronic communications equipment up by 1.2%.
 
Exports by other high-tech sub-sectors was down in January-July, compared with the corresponding period of 2004.
 
Exports of net polished diamond in January-July totaled $4.04 billion, 2.6% more than the $3.94 billion in the corresponding period of last year.
 
Diamond exports were lower in July 2005 than in July 2004, totaling $558 million.