09.30.12, 14:10–The Israeli economy’s exports, excluding diamonds, increased by 6% in July and August compared to the two previous months, according to figures released by the Israel Export and International Cooperation Institute (IEICI).
Israel’s total export values during that period stood at $7.7 billion.
Part of the increase stemmed from a sharp rise of 23% in the drug industry’s exports. Excluding drugs, Israel’s exports increased by just 3%.
The IEICI noted that despite the increase, the volume of exports of goods (excluding diamonds) in July-August was about 2% lower than the average volume of exports in the second half of 2012, and that exports excluding medications were about 3.5% lower than the average volume of exports in that period.
Nonetheless, there are a number of positive aspects: Agricultural exports recorded a 19% increase after a 9% drop in May-June, totaling $110 million. The export of polished diamonds recorded a 14% increase compared to the previous two months, following a sharp drop of 46% in May-June, totaling $650 million.
The export of electronic components and computers was up 4.5% (after a 4% increase in May-June), totaling $945 million. The export of communication, control, medical and scientific equipment (the core index of high-tech) increased by just 1%, after a 5% drop in May-June, totaling $1.2 billion.
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