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Economic Recession Will Affect Israeli Exports Trade Minister Says

Exports during the first quarter of 1958 totalled $59, 800, 000 as compared to $54, 400. 000 during January-March, 1957. Imports during this period were some five percent below that of the corresponding year, it was reported here today.

Despite this showing it is feared that export estimates for 1958-59 will fall short of the expected $160,000,000. The Minister of Trade and Industry. Pinhas Saphir, told a press conference here that the economic recession and the general decrease in world prices will undoubtedly affect Israeli trade. The country’s light industries, textiles and chemical products were expected to earn some $11.000, 000 over last year’s exports and it is in these branches that estimates will fall short, the Minister stated.