Israeli Exports Pass $100B Mark

YERUSHALAYIM -
A view of the Ashdod port. (Flash90)

Israel’s exports in 2017 passed the 100 billion-dollar mark – 3,590 times more than the amount the state exported in 1949, its first full year of existence. According to Economy Minister Eli Cohen, “from a small and developing economy Israel has become a stable and developed country, a member of the OECD, and a model for development of a successful economy around the world.”

Israel’s exports in 2017 amounted to $102.3 billion, compared to $28.5 million in 1949. The country’s chief exports in that year were citrus fruits, with smaller amounts of diamonds, textiles, and false teeth. In 2017, 40 percent of exports were services, among them high-tech services such as software development and cybersecurity systems. Among products, the highest percentage of exports were in electronics and chemicals. Agricultural exports in 2017 totaled just 5 percent of the total number.

Israel has trade offices in 45 countries, and 70 percent of the country’s trade is accomplished via trade agreements with individual countries or trading blocs, Cohen said at an Independence Day event commemorating the state’s economic accomplishments. “The Economy Ministry will continue to challenge Israeli exporters to reach to new heights, and will help exporters achieve new records. Our next milestone is to achieve a level of $120 billion in exports by 2022,” Cohen said.