At $110 Billion, Israeli Exports Worldwide Mark Record Performance In 2018

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Israeli exports hit a record high of $110 billion in ‎‎2018, up 8 percent from 2017, when exports totaled $103 ‎billion.‎

According to Economy and Industry Minister Eli ‎Cohen, the government’s exports goals are to cross the ‎‎$120 billion mark by 2020. This year’s performance ‎may realize this goal sooner. ‎

According to a report by the Economy and Industry ‎‎‎Ministry and the Israel Export Institute, the ‎increase in Israeli exports exceeds the growth seen ‎in global trade, which in 2018 is expected to reach ‎‎4.2 percent.‎

The data shows that the goods and services sector ‎was the strongest performer in 2018: the export of ‎high-tech services noted a 14 percent increase and a record ‎‎$51 billion, while the export of electronic and ‎chemical goods rose by 3 percent, reaching $60 billion. ‎

Exports to Asia grew by 20 percent in 2018, reaching $10 ‎billion. Exports to the European Union held steady ‎at $16 billion, and exports to the United States amounted to ‎‎$11 billion.‎

IEI CEO Gadi Arieli said that “2019 is likely to see ‎significant challenges for exports given the ‎projected slowdown in global economic activity over ‎the [U.S.-China] trade war.”

Cohen noted that “the international arena poses ‎complex and difficult challenges for Israeli ‎exporters, and I am pleased that the ministry’s ‎various aid programs are helping exporters to cope ‎with international markets.”

(Israel Hayom)

{Matzav.com}

1 COMMENT

  1. “Israeli exports hit a record high of $110 billion in ‎‎2018.”

    “Exports to Asia grew by 20 percent in 2018, reaching $10 ‎billion. Exports to the European Union held steady ‎at $16 billion, and exports to the United States amounted to ‎‎$11 billion.‎”

    These numbers don’t add up. 10+16+11=37. 110-37=73. Where are they selling the remaining 73 billion to? It can’t be Africa, Australia, Canada, Russia and Latin America.
    Besides, an increase from 103 to 110 is not 8%, more like 6.8%.
    This article is completely unreliable.

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