Israeli First: 2017 exports expected to surpass $100 billion

With a 5% rise in total exports of goods & services world-wide in 2017, Israeli exports to the EU increased by 20%.
• Industrial & agricultural exports up from 2016, but diamond industry down.

By Danielle Roth-Avneri & Israel Hayom Staff

 

Israel’s annual exports of goods and services are expected to exceed $100 billion for the first time when the final figures for 2017 come in, according to a preliminary report by the Israel Export and International Cooperation Institute and the Economy and Industry Ministry.

The export total for 2017 is expected to be 5% higher than in 2016.

The Port of Haifa, the business district of the city and Carmel mountain – Photo: Wikimedia, Zvi Roger/Haifa Municipality

According to the preliminary report, exports of goods and services, excluding startup technology and diamonds, increased to $92 billion in 2017, up 6% from 2016.

Excluding exports to the Palestinian Authority, exports are expected to total $53 billion in 2017, a 1% increase from 2016.

Industrial exports, which comprise 85% of goods exported by Israel, rose 3% in 2017, and to a total of $45 billion.

Diamond exports for 2017 are expected to total $7 billion, a decrease of 7% from 2016. Diamonds accounted for 13% of all exports of goods.

Agricultural exports are expected to reach $1.2 billion for 2017, a 2% increase from 2016. Agriculture accounts for about 2% of the nation’s total exports.

According to the report, Israeli exports to the European Union increased by 20% in 2017. There was also a 7% increase in exports of high-tech services.

A total of 243 companies received assistance from the Economy and Industry Ministry in 2017, compared to 129 in 2016.

“Israeli exports have great importance to the economy. They are the engine that drives economic growth and the main source of steady employment,” Economy and Industry Minister Eli Cohen said on Tuesday.

 

View original Israel Hayom publication at:
http://www.israelhayom.com/2018/01/03/israeli-exports-for-2017-expected-to-pass-100-billion-for-first-time/

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