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Foreign trade figures of Israel

Foreign Trade in Figures

The Israeli foreign trade represents 51% of the country's GDP (World Bank, 2020) and exports, the backbone of the country's growth, represents about one-quarter of the country's GDP. The main goods imported by Israel include hydrocarbons, motor vehicles, diamonds, raw materials and semi-finished products and electrical apparatus. The main national exports include diamonds, heterocyclic compounds, medicines, chemical products and mainly high-tech products (computer equipment, electronic components, aeronautics, electronic communication equipment, verification products and pharmaceutical products).
According to the latest IMF data, the volume of exports of goods and services is expected to decrease by -0.2% in 2022, down from the strong growth rate recorded in 2021 (+13.2%), due to the global economic crisis following the outbreak of the Covid-19 pandemic. The volume of imports is expected to increase by 2.9% in 2022, after increasing by 18.2% in 2021.

Israel's main suppliers and customers are the United States, China, the United Kingdom and the European Union. 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. In 2011, a trade agreement was signed with the Mercosur countries and agreements with India and China are under discussion. Israel also has a preferential trade agreement with Jordan and maintains a customs union with the Palestinian Authority.

Israel’s balance of trade is structurally negative (with the exception of the record 2009 surplus). According to WTO data, in 2020 merchandise exports reached USD 49.8 billion (-14.9% compared to 2019), while imports amounted to around USD 70 billion (-8.6%). The trade deficit amounted to USD 10.7 billion (-32,7%). Exports of services reached USD 52.5 billion, while imports amounted to USD 25 billion. According to the Israeli Statistics Office (CBS), the trade deficit (goods only) in January - November 2021 totalled NIS 98.5 billion. The deficit in the trade balance will continue to be offset by the surplus in services trade thanks to strong exports of high-tech services, such as computer consulting services, computer services and software.

 
Foreign Trade Values 20172018201920202021
Imports of Goods (million USD) 71,90876,59876,59169,98592,155
Exports of Goods (million USD) 61,15061,95258,50749,76360,159
Imports of Services (million USD) 28,57930,51631,94625,04232,073
Exports of Services (million USD) 44,68750,62455,51252,54571,785

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20162017201820192020
Foreign Trade (in % of GDP) 58.657.459.757.352.1
Trade Balance (million USD) -7,991-10,735-17,454-15,887-10,696
Trade Balance (Including Service) (million USD) 5,4084,1502,3137,31517,343
Imports of Goods and Services (Annual % Change) 10.04.46.83.4-9.5
Exports of Goods and Services (Annual % Change) 2.05.35.13.9-1.9
Imports of Goods and Services (in % of GDP) 28.427.729.427.523.7
Exports of Goods and Services (in % of GDP) 30.229.730.329.828.4

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2022 (e)2023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) 7.83.13.23.33.4
Volume of imports of goods and services (Annual % change) 11.93.34.64.64.6

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Israel is a member of the following international economic organisations: IMF, OECD, Black Sea Economic Cooperation Zone (BSEC) (observer), ICC, WTO, among others. For the full list of economic and other international organisations in which participates Israel click here. International organisation membership of Israel is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by Israel can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2021
United States 27.1%
China 7.3%
India 4.5%
Netherlands 3.7%
United Kingdom 3.4%
See More Countries 53.9%
Main Suppliers
(% of Imports)
2021
China 18.1%
United States 10.2%
Germany 6.2%
Türkiye 6.1%
Italy 3.8%
See More Countries 55.6%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

60.2 bn USD of products exported in 2021
Diamonds, whether or not worked, but not mounted...Diamonds, whether or not worked, but not mounted or set (excl. unmounted stones for pick-up styluses, worked stones, suitable for use as parts of meters, measuring instruments or other articles of chapter 90) 14.6%
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof 6.2%
Instruments and appliances used in medical,...Instruments and appliances used in medical, surgical, dental or veterinary sciences, incl. scintigraphic apparatus, other electro-medical apparatus and sight-testing instruments, n.e.s. 3.9%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 3.5%
Prepared binders for foundry moulds or cores;...Prepared binders for foundry moulds or cores; chemical products and preparations for the chemical or allied industries, incl. mixtures of natural products, n.e.s. 3.5%
See More Products 68.3%
92.2 bn USD of products imported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 7.0%
Diamonds, whether or not worked, but not mounted...Diamonds, whether or not worked, but not mounted or set (excl. unmounted stones for pick-up styluses, worked stones, suitable for use as parts of meters, measuring instruments or other articles of chapter 90) 6.7%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 5.5%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 3.1%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 2.3%
See More Products 75.4%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: November 2022