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2023
Economic Complexity
Trade 1.28Rank 19 of 132
2021
Economic Complexity
Technology 0.82Rank 28 of 96
2022
Economic Complexity
Research 1.88Rank 10 of 140
2023
Product
Exports | Imports $69.3B | $77.9B49 of 226 |  46 of 226
2023
Per Capita Product
Exports | Imports $7.1k | $7.99k51 of 220 |  80 of 220

About

Overview In 2023, Israel was the number 28 economy in the world in terms of GDP (current US$), the number 49 in total exports, the number 46 in total imports, the number 24 economy in terms of GDP per capita (current US$) and the number 19 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Israel are Integrated Circuits ($9.99B), Diamonds ($9.13B), Broadcasting Equipment ($3.34B), Medical Instruments ($2.56B), and Refined Petroleum ($2.47B), exporting mostly to United States ($20.3B), China ($7.09B), Ireland ($4.22B), Germany ($2.75B), and Hong Kong ($2.46B).

Imports The top imports of Israel are Cars ($6.19B), Diamonds ($3.67B), Crude Petroleum ($3.23B), Broadcasting Equipment ($2.49B), and Packaged Medicaments ($1.93B), importing mostly from China ($13.5B), United States ($9.21B), Germany ($5.27B), Turkey ($5.02B), and Italy ($3.3B).

Location Israel borders Egypt, Jordan, Lebanon, and Syria by land and Cyprus by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Integrated Circuits$9.99B
Top Destination (2023)United States$20.3B

In 2023, Israel exported a total of $69.3B, making it the number 49 exporter in the world. During the last five reported years the exports of Israel have changed by $6.49B from $62.8B in 2018 to $69.3B in 2023.

The most recent exports are led by Integrated Circuits ($9.99B), Diamonds ($9.13B), Broadcasting Equipment ($3.34B), Medical Instruments ($2.56B), and Refined Petroleum ($2.47B). The most common destination for the exports of Israel are United States ($20.3B), China ($7.09B), Ireland ($4.22B), Germany ($2.75B), and Hong Kong ($2.46B).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Hong Kong$798M (+ 48.1%)
Netherlands$285M (+ 17.4%)
Germany$258M (+ 10.3%)
Fastest Growing Import Markets (2022 - 2023)
Russia$1.67B (+ 440%)
China$1.26B (+ 10.3%)
Vietnam$736M (+ 232%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)1.28Rank 19 of 132
Economic Complexity (Technology)0.82Rank 28 of 96
Economic Complexity (Research)1.88Rank 10 of 140

Most Specialized Products by RCA Index

Israel has a high level of specialization in Phosphatic Fertilizers (46.9), Phenol Derivatives (37.5), Aluminium Gas Containers (31.8), Diamonds (30.3), and Nitrites and Nitrates (29.3). Specialization is measured using RCA, an index that takes the ratio between Israel observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Israel according to the relatedness index, were Typewriters (0.23), Machinery Having Individual Functions (0.19), Gas and Liquid Flow Measuring Instruments (0.19), Base Metal Watches (0.19), and Sheet Music (0.19). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Israel is not specialized in.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Israel. These are products that tend to be co-exported with the products that Israel exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Israel's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨19th to the 19th⁩ 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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ECI (Trade) Ranking by Country

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