CBS: Industrial exports down sharply in 4Q of 2008

High-tech exports, a driver of the Israeli economy, fell by 12%, and mixed high-tech exports fell by 14.3%
 
The Central Bureau of Statistics (CBS) reported last week that industrial exports fell by 4.7% in the fourth quarter of 2008, after falling by an annualized 15% in the third quarter.
 
Exports by all industrial segments were down, except for low technology, which increased by 4%.
High-tech exports, a driver of the Israeli economy, fell by 12%, and mixed high-tech exports (chemicals, machinery, electrical equipment, and transport equipment) fell by 14.3%.
 
Exports by mixed-low technology industries (mining and quarrying, minerals, rubber and plastics, and basic metals and metal products) plummeted 54% in the fourth quarter.
 
The slowdown is also affecting imports. Imports of raw materials (excluding diamonds and fuel) fell 17.7% in the fourth quarter, after falling 5% in the preceding quarter.