Export Institute chief says export business are having severe difficulties dealing with global economy crisisNavit Zomer
Published: 05.15.12, 15:18 / Israel Business
Israeli exports have
been on a downward spiral since 2011, but the situation has worsened
significantly in the months of February and March this year, according
to Ramzi Gabai, the chairman of the Israel
Export and International Cooperation Institute.
The crisis has affected all industries and trade regions except the United States, he said.
Gabai made the remarks
in a conference that was attended by dozens of exporters, as well as
Industry, Trade and Labor Minister Shalom Simhon.
"This data is very disconcerting," Gabai said. "If the situation
persists, exporters will have to cut or even shut down production
lines, or shift them abroad."
He urged the government to take immediate action to help exporters "get back on the growth track."
to the official, Israeli exporters are having difficulties dealing with
the crisis in the global economy, as well as the eroding exchange rates
and the growing competition with Asian companies – especially Chinese
As European economies deteriorate, the government's inaction would
mean adverse implications for the market – including unemployment in the
technology sector, Gabai warned.