Exports to Egypt Down 18% This Year

Even before the past weekend, Jerusalem had been worried that relations with Egypt could be damaged in the wake of the revolution there.

Israeli exports to Egypt during the first seven months of the year fell 18% in relation to the corresponding period of 2010, the Exports Institute revealed yesterday.

Exports to Egypt from January to July totaled $78 million.

Imports from Egypt amounted to $137 million during the same period - a decrease of 16%.

Even before the past weekend, Jerusalem had been worried that relations with Egypt could be damaged in the wake of the revolution there.

As a result, the government began allowing state insurance agency Ashra to issue policies to cover short-term trade with Egypt against political and business risk.

The move came after the private insurance companies began restricting their policies.