Israel2019 Economic Complexity : 1.23, Rank 20 of 146
2019 Product Exports | Imports: $56B | $72.9B, 50 of 225 | 43 of 225
2019 Per Capita Product Exports | Imports: $6.18k | $8.05k, 67 of 219 | 65 of 219
2018 Service Exports | Imports : $27.9B | $27.2B, 20 of 88 | 21 of 88
Overview: In 2019 Israel was the number 30 economy in the world in terms of GDP (current US$), the number 50 in total exports, the number 43 in total imports, the number 21 economy in terms of GDP per capita (current US$) and the number 20 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Israel are Diamonds ($11.2B), Packaged Medicaments ($2.36B), Medical Instruments ($2.01B), Integrated Circuits ($2B), and Refined Petroleum ($1.72B), exporting mostly to United States ($18.1B), China ($4.88B), Hong Kong ($2.57B), United Kingdom ($2.28B), and Netherlands ($2.18B).
Imports: The top imports of Israel are Diamonds ($6.14B), Cars ($5.07B), Crude Petroleum ($1.95B), Refined Petroleum ($1.75B), and Broadcasting Equipment ($1.71B), importing mostly from United States ($13.4B), China ($9.92B), Germany ($5.21B), Turkey ($4.43B), and Italy ($2.98B).
Location: Israel borders Egypt, Jordan, Lebanon, and Syria by land and Cyprus by sea.
Top Export (2019): Diamonds, $11.2B
Top Destination (2019): United States, $18.1B
In 2019, Israel exported a total of $56B, making it the number 50 exporter in the world. During the last five reported years the exports of Israel have changed by -$16.9B from $72.9B in 2014 to $56B in 2019.
The most recent exports are led by Diamonds ($11.2B), Packaged Medicaments ($2.36B), Medical Instruments ($2.01B), Integrated Circuits ($2B), and Refined Petroleum ($1.72B). The most common destination for the exports of Israel are United States ($18.1B), China ($4.88B), Hong Kong ($2.57B), United Kingdom ($2.28B), and Netherlands ($2.18B).
Top Import (2019): Diamonds, $6.14B
Top Origin (2019): United States, $13.4B
In 2019 Israel imported $72.9B, making it the number 43 trade destination in the world. During the last five reported years the imports of Israel changed by $2.31B from $70.5B in 2014 to $72.9B in 2019.
The most recent imports of Israel are led by Diamonds ($6.14B), Cars ($5.07B), Crude Petroleum ($1.95B), Refined Petroleum ($1.75B), and Broadcasting Equipment ($1.71B). The most common import partners for Israel are United States ($13.4B), China ($9.92B), Germany ($5.21B), Turkey ($4.43B), and Italy ($2.98B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Israel Exports Services (2018): $27.9B
Israel Imports Services (2018): $27.2B
In 2018, Israel exported $27.9B worth of services. The top services exported by Israel in 2018 were Miscellaneous business, professional, and technical services ($10.4B), Personal travel ($5.51B), Transportation ($4.46B), Royalties and license fees ($2.2B), and Business travel ($1.74B).
The top services imported by Israel in 2018 were Transportation ($7.9B), Travel ($7.67B), Miscellaneous business, professional, and technical services ($7.12B), Financial services ($855M), and Construction services ($765M).
The top product import tariffs by their MFN Ad Valorem value for Israel are Milk and cream powder sweetened < 1.5% fat (212%) and Milk and cream powder unsweetened < 1.5% fat (212%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Israel are:
Israel has a high level of specialization in Phenol Derivatives (55), Phosphatic Fertilizers (42.3), Tool Plates (38.6), Halogens (38), and Aluminium Gas Containers (35.6). Specialization is measured using RCA, an index that takes the ratio between Israel observed and expected exports in each product.
The highest complexity exports of Israel according to the product complexity index (PCI) are Photo plate, film, exposed or developed, except cine (2.76), Machining centre, single/multistation transfer machine (2.42), Tool plates, tips, etc, sintered metal carbide, cermet (2.03), Photograph film, rolls, unexposed, not paper (1.96), and Cermets and articles thereof, waste or scrap (1.93). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Israel according to the relatedness index, are Blown Glass (0.22), Incomplete Movement Sets (0.21), Photo Lab Equipment (0.21), Blank Audio Media (0.21), and Halides (0.21). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Israel is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
During the last 20 years Israel's economy has become relatively less complex, moving from the 14th to the 20th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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