Understanding Israel Exports Data | Tendata

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ten data blog13-12-2024

Israel, a country known for its innovation and technological prowess, has developed a robust and dynamic export market. From high-tech solutions to agricultural products, Israel's diverse export portfolio has positioned the country as a global player. Tendata will explore key trends in Israel's exports, analyzing insights from Israel exports data to provide a deeper understanding of the country's trade dynamics.


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Key Markets and Trade Partners

The United States remains Israel's largest export partner, accounting for 30% of total exports in 2023. The European Union and China are also major trading partners, with the EU importing around 20% of Israel's total exports and China receiving roughly 10%. According to Israel exports data, Israel's trade relationships are increasingly shifting towards Asia, with growing exports to countries like India and Japan. In particular, exports of high-tech products and pharmaceuticals to these markets have been rising steadily.


Key Sectors Driving Israel's Exports

According to Israel exports data from the Central Bureau of Statistics, Israel's total export value in 2023 was approximately $66 billion, marking a steady growth trajectory over the past decade. This growth can be attributed to several key sectors:

High-Tech and Electronics:

Israel's high-tech industry is one of the most significant drivers of its export economy. The country is home to world-renowned companies in fields such as cybersecurity, software development, telecommunications, and semiconductor manufacturing. In 2023, high-tech exports accounted for nearly 45% of total exports, amounting to $29.7 billion. Notable exports in this sector include cybersecurity technologies, computer chips, and advanced communication systems.

Diamonds and Precious Stones:

Israel has long been known as a global hub for diamond cutting and trading. According to Israel exports data, diamonds accounted for around 20% of Israel's total exports in 2023, with a value of approximately $13.2 billion. This places Israel among the top diamond exporters worldwide, primarily shipping diamonds to markets in the United States, Hong Kong, and Belgium.


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Pharmaceuticals and Chemicals:

Israel's pharmaceutical and chemical industries are among the largest in the world, with significant export contributions. In 2023, exports in this sector reached $8.5 billion, driven by the global demand for generic drugs and medical equipment. Companies like Teva Pharmaceuticals, one of the largest producers of generic medicines, contribute significantly to this category.

Agricultural Products:

Despite being a small country with limited arable land, Israel has managed to become a significant exporter of agricultural products. In 2023, agricultural exports, including fruits, vegetables, and flowers, totaled approximately $3.7 billion. Israel is particularly known for its citrus fruits, including oranges and grapefruits, as well as advanced irrigation technologies, which help optimize agricultural output.

  

Top 10 Israel's Exports in 2023

· HS Code 7102 (10.9%, $6.56 billion): Diamonds, whether or not worked, but not mounted or set

· HS Code 8542 (7.4%, $4.43 billion): Electronic integrated circuits and microassemblies

· HS Code 9018 (4.01%, $2.4 billion): Instruments and appliances used in medical, surgical, dental or veterinary sciences, including scintigraphic apparatus, other electro-medical apparatus and sight-testing instruments

· HS Code 8517 (3.75%, $2.25 billion): Electrical apparatus for line telephony or line telegraphy, including line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones

· HS Code 9031 (3.37%, $2.02 billion): Measuring or checking instruments, appliances and machines, not specified or included elsewhere in this Chapter; profile projectors


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· HS Code 3824 (3.36%, $2.01 billion): Prepared binders for foundry moulds or cores; chemical products and preparations of the chemical or allied industries (including those consisting of mixtures of natural products), not elsewhere specified or included

· HS Code 3105 (2.65%, $1.59 billion): Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers; goods of this Chapter in tablets or similar forms or in packages of a gross weight not exceeding 10 kg

· HS Code 8802 (2.27%, $1.36 billion): Other aircraft (for example, helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles

· HS Code 3004 (1.9%, $1.13 billion): Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale

  

Trends in Israel Exports Data

Recent Israel exports data reveals some interesting emerging trends in the country's export market. One of the key trends is the growing emphasis on environmental technologies and clean energy. As global demand for sustainable solutions increases, Israel has positioned itself as a leader in areas like water management, solar energy, and energy-efficient technologies.

For instance, Israeli companies like IDE Technologies and SolarEdge are gaining international recognition for their innovations in water desalination and solar energy production. In 2023, exports of environmental technologies and clean energy solutions rose by 12%, totaling approximately $1.6 billion.

Another notable trend is the increasing export of services. While traditionally a goods-oriented exporter, Israel is now seeing a rise in the export of services, particularly in fields such as cybersecurity, consulting, and research and development. The export of services grew by 9% in 2023, reaching $5.4 billion.


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Conclusion

The analysis of Israel exports data highlights the country's strong position in global trade, driven by its innovation and diverse export sectors. As Israel continues to diversify its trade relationships and focus on high-tech, environmental solutions, its export market is expected to expand further. With increasing demand for its technological advancements and sustainable products, Israel's export future looks promising. By leveraging its strengths in sectors such as high-tech, pharmaceuticals, and agriculture, Israel is set to remain a key player in the global marketplace for years to come.

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