The Israel Export Institute said Sunday that exports from Israel, excluding diamonds, fell 7.7% in May and June from a year previously. Total exports for the period were $7.5 billion. This was the sharpest fall in exports since 2009. Exports of polished diamonds fell 43% compared to the May and June figures in 2011, and totaled $1.1 billion.
Export Institute officials said that the numbers were “worrisome” and showed that the worldwide recession was having a profound effect on Israel.