Israeli Services Exports Jump to Nearly Equal Goods Sold Abroad
Israeli Services Exports Jump to Nearly Equal Goods Sold Abroad
(Bloomberg) -- Israeli services exports, boosted by the technology sector, made a significant leap over the past decade to nearly equal the sale of goods abroad, the Economy Ministry said on Monday.
Services exports rose 160% in the past 10 years, bringing them to 49% of the total $114 billion in Israeli exports expected this year, from 32% in 2009. Exports as a whole rose 68% over the past decade, or 5.3% on average on a yearly basis. Services exports rose more than 10% per year on average.
On a regional basis, the European Union became Israel’s largest market over the past decade, replacing North America. Exports to the EU, excluding diamonds, rose to 36% of the total in 2019, compared to 31% in 2009. Exports to North America declined to 27% from 37% a decade earlier. Exports to Asia increased to 22%, compared to 18%.
To contact the reporter on this story: Alisa Odenheimer in Jerusalem at aodenheimer@bloomberg.net
To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net, Amy Teibel
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