The June trade figures suggest the export recovery is weakening as well: the volume of goods exported (excluding the most erratic items) was 2.5% lower than a year ago, and 4.4% down on the month.

BBC: Market turmoil: UK is no port in the storm

In the best political climate, says one economist, growth in Israel's regional trade could not add more than 1% to its overall export volume.

ECONOMIST: Israel and the Arab world