High-tech has flown Israeli exports to an all-time high
Israeli export data in 2021 broke all records.
The most interesting statistic: exports of services first surpassed exports of goods, or in other words: high-tech is responsible for the excellent numbers: $ 143 billion, an increase of more than $ 25 billion from the year before Corona
Between Ashkenazi
07/04/2022
Thursday, 07 April 2022, 09:51 Updated: 10:04
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The Ministry of Economy and Industry publishes encouraging data on the volume of Israeli exports.
According to the ministry, Israeli exports of goods and services in 2021 amounted to about $ 143 billion.
This is an increase of about 25% compared to exports in 2020. The Ministry of Economy and Industry notes that the data are also exceptional compared to the period before the corona, when the peak of exports was recorded in 2019 and stood at about $ 117.5 billion.
The Ministry of Economy's Foreign Trade Administration notes that the composition of exports in 2021 is also an important landmark since the export of services, for the first time, exceeded the export of goods and constitutes 52% of Israeli exports compared to 48% of exports of goods.
This is a particularly high figure even in comparison with the developed countries, a testament to the evolution that the Israeli economy is undergoing with the transformation of the high-tech industry from the official refresher of Israeli industry to the locomotive that attracts it.
The high growth is evident both in goods and more so in services with unprecedented growth rates from a historical point of view.
With all the compliments to high-tech, it is worth noting that exports of goods also grew at a rate of 17% compared to 2020 - this compared to a certain stagnation in recent years.
And yet, the undisputed star is high-tech, which is responsible for services exports growing at a double rate: 34%.
The growth rate is also exceptional in comparison with the average growth of the services sector in recent years.
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Meet the outstanding export workers of 2021, high-tech workers (Photo: ShutterStock)
Exported mainly to Europe
When examining the trade industries in which the increase was recorded, it can be seen that an increase was recorded in most components of exports, with an unusual increase compared to the average recorded in diamond exports, which grew by 71% in the past year.
In the goods sector, exports of medical and optical equipment (+ 31%), exports of metal products (+ 26%) and exports of automation and electronic equipment (+ 20%) grew significantly.
In the services sector, exports of transportation services grew by about 131%, to a considerable extent thanks to the unusual increase since the Corona period in the prices of sea and air transportation.
Following the trend in recent years, software exports, which constitute the significant component in the exports of high-tech companies, have grown at a rate of 26% and today constitute the leading industry in Israeli exports with a share of 27% of total exports.
Also in the services segment, exports as a result of the sale of start-up companies grew by 273% and returned to their pre-Corona level after 2020 was a year with a minority of start-up acquisitions.
From a geographical point of view, looking at the export of goods without diamonds, it can be seen that a major share of exports (40%) is directed to European markets, 32% to American markets and about 25% to Asian markets.
Minister of Economy and Industry, Orna Barbibai
: "The high export figures are a testament to the resilience and strength of Israeli industry, which often faces security challenges, difficulties in supply chains, port congestion and rising production input prices. Israel's".
Director of Foreign Trade Administration at the Ministry of Economy and Industry, Ohad Cohen:
"The Foreign Trade Administration works intensively to continue to promote Israeli exports to world markets by promoting initiatives and processes for establishing free trade agreements, providing a response and close professional support to Israeli companies - through the system of economic representations in 55 business centers around the world - and even providing financial support For
companies interested in operating in global markets,
the results of our activities are reflected, among other things, in record-breaking export data as well as in the volume of success stories and feedback we receive from Israeli industry. The Israeli. "
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Ministry of Economy
goods
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