The export of goods and services from Israel will amount to at least 160 billion dollars in 2022, this is based on a conservative forecast of the Foreign Trade Administration in the Ministry of Economy and Industry.
The Foreign Trade Administration notes that this is a significant increase of at least 10% compared to the year 2021, in which exports totaled approximately 144 billion dollars, a figure that was also a record for its time. According to cautious estimates, the administration expects that if the rate of growth in Israeli exports is maintained as it was in the first three quarters of 2022, exports will even exceed the $165 billion mark.
The administration also notes that in 2022 the trend that began in 2021 continued, where for the first time, the export of services exceeded the export of goods. So that even in 2022, the scope of services is expected to constitute about 51% of all Israeli exports compared to 49% for the export of goods. Programming services and research and development services continue to lead the list of most exported services, with 42% and 14% respectively.
There is also good news in the goods sector, where the volume of goods exports from Israel for 2022 is also expected to increase significantly by about 15% compared to 2021. The significant increase in the goods sector was recorded in the export of chemicals and chemical industry products (+55%), diamonds (+41%) ), and electrical and mechanical equipment (+18%). Apart from these sectors, there was an increase in the export of most goods and sectors.
The Minister of Economy and Industry, Champion (res.) Orna Barbibai: “The Israeli economy, once again this year, maintained stability and growth and thus enabled Israeli industry to meet a variety of challenges, including breaking a new record in exports. The Foreign Trade Administration’s support and assistance system, operating in the 55 world trade centers, will continue to lead Israeli industry in the coming year as well To promote exports, break into new markets and attract foreign investments to Israel.”
Director General of the Ministry of Economy and Industry and Director of the Foreign Trade Administration, Ohad Cohen: “Despite the shocks experienced by the global economy in 2022 and in the preceding Corona years and the consequences of various global events, Israeli exports are managing to meet the challenges facing them. The Ministry of Economy and Industry will continue to help Israeli companies expand their existing global activities, alongside breaking into new markets through the establishment of trade agreements with partners new ones and strengthening and developing relations with existing partners.”
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