JERUSALEM, Jan. 15 (Xinhua) -- Israel's exports totaled 156 billion U.S. dollars in 2023, down six percent from the all-time high recorded in 2022, the country's Ministry of Economy and Industry said in a statement on Monday.
The ministry explained that the exports of goods dropped by 10 percent, mainly diamonds, medicines, and chemicals, largely due to the ongoing conflict with Hamas that broke out on Oct. 7.
Other causes for the annual decrease in Israeli goods exports, according to the ministry, included instability in the global market, volatility in currency rates, the impact of changes in the base interest rate, and internal events in the main importing countries.
The export of services from Israel also experienced a decrease of three percent in 2023, the ministry noted.
The decline in services exports was primarily attributed to the effects of the conflict on the tourism and transportation sectors, coupled with a reduction in the exit sales of start-up companies, as explained by the statement. ■
