Coronavirus be damned! Israel’s Ministry of Economy and Industry on Monday revealed great statistics for Israel’s exports for the year 2021. The Foreign Trade Administration at the Ministry of Economy and Industry reported that the country’s exports are expected to be between $135 billion and $140 billion this year. This constitutes an increase of close to 20% compared to 2022.
Minister of Economy and Industry, Maj. Gen. (Res.) Orna Barbibai said of the news, “A stable and growing economy is one that enables many challenges to be met, which characterizes Israel. The support and assistance systems of the Foreign Trade Administration in Israel and in the 55 centers of economic activity throughout the world will continue to support the industry and the business sector and will also lead in 2022 the activity of promoting exports and attracting foreign investment to Israel.“
“National trade policy recognizes the importance of exports and its enormous impact on the Israeli economy.” He added.
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Here are some of the highlights:
A record year in Israeli exports.
A record year for an increase in the volume of Israeli exports within one year.
For the first time in Israel’s economic history – exports of services exceed exports of goods.
For the first time in years – a revival in the export of goods.
The leading sectors in the export of goods: are automation and electronic equipment, products of the chemical and pharmaceutical industries and optical and medical equipment.
In addition, the top countries that bought Israeli exports were the US, China, Netherlands, Turkey and Germany.
The Foreign Trade Administration notes that this is an unprecedented increase of at least 18.5% compared to 2020, when exports totaled about $114.3 billion. The growth trend that exports have been experiencing since the beginning of the year is strengthening as the year progresses. According to conservative estimates, the Foreign Trade Administration expects that at this growth rate, exports are even expected to approach the $140 billion mark.