Israel's trade deficit narrows as imports drop

Trade deficit, excluding polished diamonds, ships and aircraft, narrowed to a seasonally adjusted $603.3 million from a revised $1.31 billion in the same month of 2008
 
The Central Bureau of Statistics reported last Wednesday that Israel's trade deficit narrowed in April 09 as economic growth slowed down, slowing demand for imports.
 
Exports in April fell almost 26% to $2.59b. while imports dropped by over 33% to $3.19b. The trade deficit, excluding polished diamonds, ships and aircraft, narrowed to a seasonally adjusted $603.3 million from a revised $1.31 billion in the same month of 2008.
 
Israel’s polished diamond exports fell 28% to $269.1 million in April. Polished exports fell 57% in the first quarter of 2009. Rough diamond exports dropped 59% to $108.3 million in April.
 
The country’s total diamond exports, of rough and polished combined, fell 41 percent to $377.4 million in April.