Israel2020 Economic Complexity : 1.16, Rank 20 of 127
2020 Product Exports | Imports: $50.8B | $68B, 48 of 226 | 43 of 226
2020 Per Capita Product Exports | Imports: $5.52k | $7.38k, 61 of 219 | 61 of 219
2019 Service Exports | Imports : $55.3B | $32.1B, 10 of 69 | 14 of 69
Overview In 2020 Israel was the number 28 economy in the world in terms of GDP (current US$), the number 48 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 ($5.77B), Integrated Circuits ($3.38B), Packaged Medicaments ($1.97B), Medical Instruments ($1.86B), and Other Measuring Instruments ($1.6B), exporting mostly to United States ($14.1B), China ($4.64B), Palestine ($3.34B), Netherlands ($2.28B), and Germany ($2.01B).
Imports The top imports of Israel are Cars ($4.31B), Diamonds ($2.65B), Packaged Medicaments ($1.9B), Broadcasting Equipment ($1.75B), and Computers ($1.34B), importing mostly from China ($9.01B), United States ($8.03B), Germany ($5.11B), Turkey ($4.67B), and Switzerland ($3.36B).
Location Israel borders Egypt, Jordan, Lebanon, and Syria by land and Cyprus by sea.
The following section uses the most recent trade data from partners of Israel.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Diamonds, $5.77B
Top Destination (2020): United States, $14.1B
In 2020, Israel exported a total of $50.8B, making it the number 48 exporter in the world. During the last five reported years the exports of Israel have changed by -$15.9B from $66.7B in 2015 to $50.8B in 2020.
The most recent exports are led by Diamonds ($5.77B), Integrated Circuits ($3.38B), Packaged Medicaments ($1.97B), Medical Instruments ($1.86B), and Other Measuring Instruments ($1.6B). The most common destination for the exports of Israel are United States ($14.1B), China ($4.64B), Palestine ($3.34B), Netherlands ($2.28B), and Germany ($2.01B).
In 2020 Israel imported $68B, making it the number 43 trade destination in the world. During the last five reported years the imports of Israel changed by $5.2B from $62.8B in 2015 to $68B in 2020.
The most recent imports of Israel are led by Cars ($4.31B), Diamonds ($2.65B), Packaged Medicaments ($1.9B), Broadcasting Equipment ($1.75B), and Computers ($1.34B). The most common import partners for Israel are China ($9.01B), United States ($8.03B), Germany ($5.11B), Turkey ($4.67B), and Switzerland ($3.36B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Israel Exports Services (2019): $55.3B
Israel Imports Services (2019): $32.1B
In 2019, Israel exported $55.3B worth of services. The top services exported by Israel in 2019 were Computer and information services ($27.3B), Other business services ($13.2B), Travel ($7.6B), Transportation ($4.3B), and Royalties and license fees ($1.58B).
The top services imported by Israel in 2019 were Other business services ($12.5B), Travel ($8.15B), Transportation ($7.92B), Royalties and license fees ($1.52B), and Computer and information services ($1.05B).
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 (51), Phosphatic Fertilizers (42.5), Halogens (38.8), Aluminium Gas Containers (36.1), and Tool Plates (29.7). 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 Machining centre, single/multistation transfer machine (2.55), Photo plate, film, exposed or developed, except cine (2.45), Cermets and articles thereof, waste or scrap (2.08), Microscopes except optical, diffraction apparatus (1.86), and Instruments to check or measure electricity, radiation (1.83). 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 Precious Metal Watches (0.23), Base Metal Watches (0.23), Laboratory Reagents (0.22), Hard Liquor (0.22), and Nucleic Acids (0.22). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Israel's economy has become relatively less complex, moving from the 16th 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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