(Globes) - Industrial exports to the U.S., excluding diamonds, dropped 10% in the first half of this year, compared with the corresponding period last year. Exports for the six-month period were $2.77 billion. The Israel Export Institute director general said he "hadn't seen this rate of decline in a decade." Imports from the U.S. to Israel fell 17% in the first half of 2002, compared with the corresponding period last year, to $3.25 billion. According to the director, the decrease in exports was due to the continuing recession in the U.S., especially in high-tech. The drug and pharmaceutical sector was Israeli export's one ray of light. In the first half of 2002, there was a 66% increase in drug and pharmaceutical exports to the U.S., compared with the corresponding period last year, to $324 million.
2002-08-28 00:00:00Full ArticleBACK Visit the Daily Alert Archive