If you are mulling about diversification and expanding your client base beyond the borders of Israel, you can seriously look at shipping from Israel to the US as a viable strategy. Read on to learn about the top 10 things businesses typically export from Israel, the percentage of market share, and the leading destinations you can explore. You can get an overview of the current trends driving the export market and grab your share of the pie with the latest information on exports, a key driver in terms of economic growth.
What Does Israel Export?
The latest statistical data reveals that exports account for approximately 40% of the GDP in Israel. Cut and uncut diamonds, pearls, and other precious stones and metals top the charts of export items in Israel. The main exports in Israel, other than diamonds and precious metals, are electrical machinery and equipment, pharmaceuticals, optical, technical and medical apparatus, machinery (including computers, sound and TV recorders, reproducers, and mechanical machinery and appliances), plastics and plastic articles, aircraft and spacecraft, mineral fuels (including oil), and organic chemicals.
Based on the 4-digit Harmonized Tariff System code level, the most valued exported goods from Israel were unmounted diamonds, accounting for 23.2% of total exports, followed by medication mixes in dosage, integrated circuits and microassemblies, aircraft parts, chemical industry products, and mobile phones.
Most Popular Export Categories in Israel
The top 10 exports in Israel accounted for 81.5% of the overall value of its global shipments with mineral fuels (including oil) being the fastest-growing product (59.5%) amongst the leading export categories of goods. Miscellaneous chemical goods grabbed the second rank in terms of increasing export sales with a 17.6% gain. The rank of the third-fastest growing category was taken by Israeli electrical machinery and equipment (14.2%) while optical, technical or medical apparatus trailed behind with 13.8%.
The main recipients of the export partners were the United States of America with 28% of total exports followed by Hong Kong (8%), Belgium, the United Kingdom, India, and China.
Arslan Fazal is a student of the Aust Abbottabad University of Science and Technology. He started his graduation in 2016 and graduated in 2020. I’m a professional article and blog writer, has written dozens of content on different topics and worked with professionals all over the globe. Feel free to contact me for any assistance. [email protected]
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Umar Nisar was born and raised in the busy city of Abbottabad. As a journalist, Umar Nisar has contributed to many online publications including PAK Today and the Huffing Post. In regards to academics, Umar Nisar earned a degree in business from the Abbottabad UST, Havelian. Umar Nisar follows the money and covers all aspects of emerging tech here at The Hear Up.