Xifres de comerç exterior d'Israel

Foreign Trade in Figures

Israeli foreign trade represents 51% of the country's GDP (World Bank, latest data available) and exports, the backbone of the country's growth, represent about one-quarter of the country's GDP. The main goods imported by Israel include machine and electronics manufacturing  (15%), machinery and equipment (8.5%), chemical products (6.9%), and furniture and electrical equipment (5.3%). In 2022, manufacturing, mining and quarrying exports (excluding diamonds) constituted 91% of all exported goods, exports of diamonds represented 8% and the remaining 1% were agriculture, forestry and fishing exports (data CBS). A breakdown by economic activity points to a 91% increase in the exports of pharmaceutical products, with electronic components and boards rising by 31.7% compared with 2021.

In terms of geographic origin, imports came chiefly from China (13.3%), the U.S. (9%), Germany (6.6%), Switzerland (5.7%) and Turkey (5.3%); whereas exports were directed mainly towards the U.S. (by far the largest partner, accounting for 27.7% of total exports), China (6.8%), India (5.7%), the UK (4.6%), and Ireland (3.8% - data CBS 2022). Israel has a liberal import policy: in addition to the Free Trade Agreement (FTA) with the United States, Israel has FTAs with Canada, Turkey, the EU and EFTA. Furthermore, in 2022 it signed an FTA with the United Arab Emirates.

Israel’s balance of trade for goods is structurally negative, but the one of services is positive thanks to strong exports of high-tech services, such as computer consulting services, computer services and software. According to WTO’s latest data, in 2021 merchandise exports reached USD 60.1 billion (+20.9% y-o-y), while imports amounted to around USD 70 billion (+31.6%). In the same year, exports of services reached USD 71.7 billion, with imports standing at USD 32 billion (+36.8% and +20%, respectively). Thanks to the contribution of services, the World Bank estimated the country’s trade balance to be positive by 4% of GDP in 2021. According to the Israeli Statistics Office (CBS), in 2022 the trade deficit (goods only) increased by 19.6% year-on-year, as exports of goods increased by 22.8% and imports by 21.6% (to USD 66.8 and 104 billion, respectively).