Reasons to rejoice: the export of goods and services from Israel will amount to at least 160 billion dollars in 2022, based on a conservative forecast by the Foreign Trade Administration at the Ministry of Economy and Industry.
The administration notes that this is a significant increase of at least 10% compared to 2021, when exports totaled approximately 144 billion dollars, a figure that was also a record for its time.
According to conservative estimates, if the rate of growth in Israeli exports is maintained as it was in the first three quarters of 2022, exports will even surpass the $165 billion mark.
The administration also notes that in 2022 the trend that began in 2021 continued, when for the first time the export of services exceeded the export of goods.
So even in 2022, the scope of services is expected to make up 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: the export of goods from Israel for 2022 is also expected to grow by a significant amount of 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.
In 2022, most of the exports are directed to European, American and Asian markets.
Among the countries to which nominally impressive growth was registered in the export of goods to in 2022: USA (19%), Great Britain (113%), Ireland (115%), Brazil (90%), India (39%); Canada (95%) , Singapore (85%), Hong Kong (24%) and Turkey (17%).
Minister of Economy and Industry, Alofa (res.) Orna Barbibai, photo: Ilan Bashor
Minister of Economy and Industry, Champion (Res.) Orna Barbibai: "The Israeli economy maintained stability and growth this year as well, thus enabling Israeli industry to meet a variety of challenges, including breaking a new record in exports."
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