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Israel’s exports up 3% in 2016

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Wednesday, January 4th, 2017

The Israel Export Institute predicts 6% export growth in 2017.

As reported in Globes: Israel’s exports of goods and services totaled $95 billion in 2016, 3% more than in 2015, according to an initial summary by the Israel Export and Industrial Cooperation Institute published today. Excluding the sale of startups and diamonds, exports totaled $86 billion, 2% more than in 2015.High-tech exports (industrial and services) totaled $41 billion, up 4%, compared with the preceding year, and are projected to account for 43% of Israel’s exports of goods and services. The increase is a result of rapid growth in exports of computer, software, and R&D services, in line with the trend in recent years.

According to the Export Institute’s forecast, exports are projected to grow by 6% in dollar terms to over $100 billion in 2017. Export Institute economists predict a real 4% rise in exports.

Export Institute chairman Ramzi Gabbay said, “The 2016 export report indicates a positive trend in exports this year. The drop in exports of goods was balanced by accelerated growth in exports of computer and software services, which contributed to a continuation of high-tech export growth in Israel, and in Israeli exports in general. In view of this trend, we expect that following several years of stagnation, 2017 will be a turning point in exports, with exports rising and boosting the economy’s growth rates in the coming years.”