Israeli exports to the European Union fell by a 6% in March-April 2010, the Israel Export and International Cooperation Institute said. The first signs of the impact of the euro crisis on Israeli exports have emerged..

In what the IEI described as the first signs of the eurozone bloc crisis' impact on Israeli exports, exports to Europe fell to a seasonally adjusted monthly average of $973 million in March-April, from over $1 billion in January-February.

This was the first two-month drop in exports to the EU since the beginning of recovery of exports to Europe in April-May 2009, Export Institute Director General Avi Hefetz told Globes.

Hefez said that the figures were the first sign of the impact of the euro crisis on Israeli exports, adding that the Export Institute believes that the shekel's strong appreciation against the euro, and the sharp slowdown in economic activity in Europe, will affect exports to the EU in the coming months and especially in 2011.

According to the Export Institute's data, the export of goods, excluding diamonds, to the US rose 12% to a monthly average of $1 billion in March-April, from $966 million in January-February.