IEICI -​ Developments and trends in Israeli exports - Full Year 2017 & Forecast for 2018

"Consistent with the upturn trend in global trade and in line with the IEI's Economic Unit's forecast, 2017 ended with a noteworthy 6% growth in exports of goods and services, which amounted to a record US$102 billion. Exports of goods rose by 3% in dollar terms, owing to the growth in the industrial sector, totaling $58 billion. Exports of services continued its accelerated growth in 2017, rising 11% to a record $44 billion, primarily due to the continued accelerated growth in exports of high tech services and in exports of tourism".
"An analysis of export trends in 2017 points to an increase in exports to most of the trading regions. Following two consecutive years of a downward trend, exports to the European Union rose by an impressive 20% in 2017 to $15.9 billion – representing an all-time-high in Israeli exports to EU countries; following three consecutive years of growth, exports to the US fell slightly by 2% from their level in 2016. This decline is accounted for by the sharp decrease in pharmaceutical exports; however, excluding this industry exports to the US rose in line with the general trend in most export industries; exports to Asia fell by 15%, affected by the fluctuations in the electronic components industry; exports to Latin America rose by 7% y-o-y, owing to the recovery of exports to Brazil and exports to Sub-Sahara Africa rose 5% following several years of continued decline