Despite concerns of a slowdown in the global economic recovery, and worries about political factors affecting Israeli exports, exports rose in May-July 2010, the Central Bureau of Statistics reported.
High tech exports, which account for 49% of Israeli industrial exports, totaled $1.97 billion in July, 5.7% more than in June. High-tech exports rose by an annualized 51% in May-July, after rising by an annualized 39.4% in January-April.
The Bank of Israel has several times in the past few months expressed concern about the effect of the debt crisis in Europe on Israeli exports.
Based on original figures, exports of goods fell to $4.43 billion in July from $4.75 billion in June. Exports in seasonally adjusted figures, however, rose to $3.79 billion in July from $3.59 billion in June. 83% of exports were industrial goods, 16% were diamonds, and 1% were agricultural products
Based on original figures, imports of goods fell to $4.88 billion in July from $4.91 billion in June, although imports rose in seasonally adjusted figures to $4.36 billion in July from $4.12 billion in June.
The trade deficit was about $500 million in July.