Large quantities of sponges were also exported from Greece until rising costs, diminishing supplies, emigration of sponge fishers, and synthetic substitutes almost obliterated the industry after World War II.

Around the Mediterranean, agriculture has always been the basis of the economy. The main crops are wheat and barley, but most important are specialty crops such as grapes, olives, citrus, and cork and the products made from them. Manufacturing is becoming increasingly important, especially in the European countries and in Israel. Evidence exists of petroleum and natural-gas deposits in the deep sediments of the basin floors.