Boom: Israel’s Annual Exports Expected to Exceed $100 Billion

In this Wednesday, Jan. 27, 2016 photo, an employee checks the quality of glass bottles on the production line at Phoenicia Glass Works Ltd. factory in the southern Israeli town of Yeruham. Phoenicia Glass Works, Israel’s only glass container factory, produces one million containers a day. Some 300,000 bottles a …
AP/Oded Balilty

The Algemeiner reports: – 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 as well as the country’s Economy and Industry Ministry.

The preliminary report stated that the exports of goods and services, excluding start-up technology and diamonds, increased to $92 billion in 2017, up 6 percent from 2016. Industrial exports, which comprise 85 percent of goods exported by Israel, rose 3 percent in 2017 to a total of $45 billion. Diamond exports for 2017 are expected to total $7 billion, a decrease of 7 percent from 2016, while agricultural exports are expected to reach $1.2 billion, a 2-percent increase.

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

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