In 2020, Israel exported 49.8 billion dollars worth of goods around the world, down by minus 17.8 percent from 2016.
From 2019 to 2020, the value of Israel’s exports fell by minus 14.9 percent year on year.
According to a continental perspective, 35.3 percent of Israel’s exports were delivered to European countries, while 31 percent were sold to North American importers.
Another 27.7 percent of Israel’s exports were sent to Asia.
Latin America, excluding Mexico, but including the Caribbean with 3.8 percent, Oceania, led by Australia with 1.2 percent, and Africa received lower percentages with 1.1 percent.
Israel’s Top 15 Trading Partners
The following is a list of 15 of Israel’s most important trading partners, the countries that imported the most Israeli shipments in terms of dollar value in 2020.
The percentage of total Israeli exports consumed by each import country is also shown.
The United States has a budget of 13.1 billion dollars accounting for 26.3 percent of total Israeli exports
4.1 billion in China accounts for 8.3 percent
3.7 billion pounds in the United Kingdom accounts for 7.5 percent
2.5 billion dollars in the Netherlands account for 4.9 percent
1.7 billion dollars in Germany account for 3.4 percent
India with 1.6 billion dollars accounts for 3.2 percent
Belgium has a GDP of 1.45 billion dollars accounting for 2.9 percent
1.41 billion dollars for Turkey accounts for 2.8 percent
1.24 billion dollars from Hong Kong accounts for 2.5 percent
1.15 billion francs from France accounts for 2.3 percent
Brazil with 998.9 million dollars accounts for 2 percent
947.7 million dollars from Japan account for 1.9 percent
Spain with 872.5 million dollars accounts for 1.8 percent
776.8 million from Italy accounts for 1.6 percent
776.8 million for South Korea accounts for 1.6 percent
In 2022, the previously mentioned 15 trading partners will account for nearly three quarters or 73 percent of Israeli exports.
The Netherlands has increased by 13.7 percent valued at 2.5 billion dollars.
South Korea: Increased by 8.6 percent valued at 776.8 million dollars.
8.4 percent valued at a 947.7 million dollars increase in Japan
Germany: 2.1 percent valued at 1.7 billion dollars increase
From 2019 to 2021, Israel increased its exports to four major trading partners: the Netherlands up by 13.7 percent, South Korea up by 8.6 percent, Japan up by 8.4 percent, and Germany up by 8.4 percent.
Hong Kong went down by 58.2 percent, the United Kingdom down by minus 25.6 percent, and France was the top annual decliner down by minus 23.8 percent.
Israel’s Top 10 Imports
The following product groups represent the highest dollar value in Israel’s import purchases during 2020. Also shown is the percentage share each product category represents in terms of overall imports into Israel.
Machinery including computers: 9.4 billion dollars accounts for 13.3 percent of total imports
Electrical machinery, and equipment: 8.5 billion dollars accounts for 12.1 percent
Vehicles: 5.8 billion dollars accounts for 8.3 percent
Mineral fuels including oil: 5.6 billion account for 7.9 percent
Gems, precious metals: 4.4 billion dollars accounts for 6.2 percent
Pharmaceuticals: 3.3 billion dollars account for 4.7 percent
Optical, technical, and medical apparatus: 2.9 billion dollars account for 4.1 percent
Plastics, plastic articles: 2.6 billion dollars account for 3.8 percent
Iron, steel: 1.5 billion dollars account for 2.2 percent
Organic chemicals: 1.4 billion dollars account for 2 percent.
Israel’s top 10 imports accounted for about two-thirds or 66.5 percent of the overall value of its product purchases from other countries.
Aircraft and spacecraft posted the fastest increase in value among Israel’s top 10 import categories, up by 24.6 percent from 2019 to 2021 In second place for improving import purchases was the pharmaceuticals category, thanks to its 13.4 percent uptick. Israeli imports of vehicles delivered the third fastest gain up 8.8 percent.
The greatest decliner was the gems and precious metals category, falling by minus 26.2 percent year over year and weighed down by Israel’s diminishing international sales of diamonds.
Israel’s Top 10 Exports
The State of Israel shipped 49.8 billion dollars worth of goods around the world in 2021, thanks to its photogenic coastlines along the Mediterranean Sea’s southeastern shore and the Red Sea’s northern shore.
This figure reflects a minus 17.8 percent drop from 2016 to 2019 and a minus 14.9 percent drop from 2020 to 2021.
The Israeli shekel has appreciated by 10.4 percent against the US dollar since 2016, according to the average exchange rate for 2020, and gained 3.4 percent from 2019 to 2020.
Exports paid for in weaker US dollars are relatively more expensive for international buyers due to Israel’s stronger local currency.
In 2020, Israel’s five most valuable exports accounted for nearly a third or 31 percent of the country’s total shipments by value.
Diamonds, heterocyclics, nucleic acids, electronic integrated circuits, phones, smartphones, and electromedical equipment are among the most important exports.
According to the most recent country-specific data available, importers in the United States had 26.3 percent of the global total, China with 8.3 percent, the United Kingdom with 7.5 percent, the Netherlands with 4.9 percent, Germany with 3.4 percent, India with 3.2 percent, Belgium with 2.9 percent, Turkey with 2.8 percent, Hong Kong with 2.5 percent, France with 2.3 percent, Brazil with 2 percent, and Japan purchased 1.9 percent of Israel’s exports.
In terms of value, 35.3 percent of Israel’s exports were delivered to European countries, while 31 percent were sold to North American importers.
Another 27.7 percent of Israel’s exports were sent to Asia.
Latin America, excluding Mexico, but including the Caribbean got 3.8 percent, Oceania, led by Australia got 1.2 percent, and Africa received smaller percentages got 1.1 percent.
Given Israel’s population of 9.2 million people, the country’s total exports of 49.8 billion dollars in 2020 equate to roughly 5,400 dollars for each citizen.
The export product groups listed below have the highest dollar value in terms of Israeli global shipments in 2020.
The percentage share of each export category in terms of total Israeli exports is also shown.
8.2 billion dollars in electrical machinery and equipment accounted for 16.4 percent of total exports
6 billion in gems and precious metals accounts for 12 percent
5.7 billion dollars in optical, technical, and medical equipment accounts for 11.5 percent
4.4 billion dollars in machinery, including computers, accounts for 8.8 percent
4.1 billion dollars in organic chemicals accounts for 8.3 percent
2.7 billion dollars in plastics and plastic articles account for 5.5 percent
2.5 billion dollars in other chemical goods accounts for 5.1 percent
2.2 billion dollars for aircraft and spacecraft accounts for 4.4 percent
1.7 billion dollars in pharmaceuticals accounts for 3.3 percent
1.2 billion dollars in arms and ammunition accounts for 2.3 percent
The top ten exports from Israel accounted for 77.7 percent of the total value of its global shipments.
The fastest-growing export category among the top ten was arms and ammunition, which increased by 67.9 percent from 2019 to 2020.
Optical, technical, and medical apparatus came in second with a 4.8 percent increase in export sales.
The only other increase in value was for electrical machinery and equipment, which increased by 1.9 percent.
Pharmaceuticals, with a minus 49.8 percent drop year over year, were the leading decliner among Israel’s top 10 export categories.
In terms of macroeconomics, Israel’s total exported goods account for 12.5 percent of its overall Gross Domestic Product valued at 354.2 billion dollars in Purchasing Power Parity US dollars in 2021.
In PPP terms, exports will account for 12.5 percent of the overall GDP in 2021, compared to 16.5 percent in 2020.
Those percentages suggest that Israel’s total economic performance is becoming less reliant on products sold on international markets, albeit over a short period.
The unemployment rate is another important indicator of a country’s economic performance.
According to Trading Economics, Israel’s average unemployment rate was 5.4 percent in April 2021, down from 4.3 percent a year earlier.
Jerusalem is Israel’s capital.