‘Despite the shocks experienced by the world economy in 2022 and in the Covid years that preceded it… Israeli exports managed to meet the challenges facing it’
Israeli exports increased over 10 percent, reaching a record level of at least $160 billion in 2022, the country’s Economy Ministry said on Sunday.
Exports, some 30 percent of Israel’s economic activity, were $144 billion in 2021 when services overtook goods as the country’s main export for the first time. The ministry said that total exports could top $165 billion in 2022 if the pace over the year’s first three quarters was maintained. Israel’s economy is forecast to grow some 6 percent this year but just 3 percent in 2023.
In 2022, led by high-tech exports such as programming and research and development, services will likely account for 51 percent of total exports, the ministry said. In addition, the ministry recorded a significant increase in the export of chemicals and…
