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"Also in 2021 exports are expected to grow by 7%" | Israel today

2021-03-04T21:34:46.014Z

| economy This is the estimate of Leumi economists, after in 2020 exports from Israel jumped by 4.8% • Exports from OECD countries contracted by an average of 12% • The high-tech industry stood out positively with growth of 18.9% The corona did not hurt exports Photo:  Joshua Joseph Exports of goods from Israel have increased in the past year, in contrast to the declining trend in exports recorded by d



This is the estimate of Leumi economists, after in 2020 exports from Israel jumped by 4.8% • Exports from OECD countries contracted by an average of 12% • The high-tech industry stood out positively with growth of 18.9%

  • The corona did not hurt exports

    Photo: 

    Joshua Joseph

Exports of goods from Israel have increased in the past year, in contrast to the declining trend in exports recorded by developed countries, OECD countries.

This emerges from an analysis by Dr. Gil Michael Befman, Leumi's chief economist and economist Yaniv Bar.

While exports of goods in developed countries contracted by an average of 12%, in Israel there was a real increase of 4.8%: "Looking ahead", Befman Weber predicts, ". 

In the analysis, economists also refer to the CBS data on Israel's exports of services for 2020 - when the high-tech industry stood out, and is expected to continue to be a growth driver for the domestic economy. For 2019. 

The share of exports of high-tech services in total exports of services increased from 57.2% in 2019 to 67.2% in 2020.

The high-tech component includes, among other things, communication services, programming and consulting in the field of computers, information storage services, research and development and more. 

These areas of activity are supported by several factors: The relative advantage that the Israeli economy has in a high-quality and skilled workforce with an emphasis on high-tech - an area in which Israel is ranked among the 20 countries with the highest level of human development in the world, according to the UN Human Development Index.

Source: israelhayom

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