High-tech helps Israel's exports climb to record $160 billion in 2022
High-tech helps Israel's exports climb to record $160 billion in 2022
Services, led by high-tech exports such as programming and research and development, will likely account for 51% of total exports
Israel's exports are expected to have risen more than 10% to a record level of at least $160 billion in 2022, led by exports of services, the Economy Ministry said on Sunday.
Exports, some 30% of Israel's economic activity, were $144 billion in 2021, when services overtook goods as the country's main export for the first time.
Again in 2022, led by high-tech exports such as programming and research and development, services will likely account for 51% of total exports, the ministry said.
The ministry said that total exports could top $165 billion in 2022 if the pace over the first three quarters of the year was maintained.
At a 38% share, Europe is Israel's largest trading partner, followed by the Americas at 35% and Asia at 24%.
