Israeli exports increased to about $140 billion in 2021 and hit a record high, an increase of close to 20% compared to about $114.3 billion in 2020, according to estimates by the Foreign Trade Administration at the Ministry of Economy and Industry.
For the first time in Israel’s economic history, exports of services exceed exports of goods with a 51% to 49% ratio, while the exports of goods are also on the rise.
The leading sectors in the export of goods are automation and electronic equipment, products of the chemical and pharmaceutical industries, and optical and medical equipment.
Israel’s top exporting destinations are the U.S., China, Netherlands, Turkey, and Germany.
The two most significant trends that contributed to the change in the balance of power between goods and services are a significant increase in the high-tech industries in Israeli exports – exports of programming services and research and development services that are not start-ups, which grew by 25% and 15% respectively, and the significant increase in transportation services exports that jumped this year by 138% percent. Exports resulting from the sale of start-up companies also jumped by 257% and these trends led to the overall growth of about 30% in the export of services.
The majority of exports, 39%, are directed to European markets, 33% to American markets, and about 25% to Asian markets.
Ohad Cohen, Director of Foreign Trade Administration at the Ministry of Economy and Industry, stated Monday that “the year 2021 will break records in Israeli exports and its components. Whether we reach the $140 billion threshold or not, this is an all-time high in exports, which was slightly halted in 2020 due to the Corona pandemic.”
He noted that the exporting sector showed “an impressive recovery” in late 2020 and even more so in 2021, both in the export of goods and services.
This nation which God established for His purposes to be a blessing to the world is being a blessing to the world in the development of high-tech products and services but sadly it will not fulfill God’s purpose until its Messiah Jesus returns to establish His Millennial Kingdom. In fact, we are told in God’s Word only one-third will survive the coming reign of the Antichrist.
“In the whole land, declares the Lord ‘two-thirds will be struck down and perish; yet one-third will be left in it. This third I will put into the fire; I will refine them like silver and test them like gold. They will call on my name and I will answer them; I will say, ‘They are my people, and they will say, ‘The Lord is our God.’” Zechariah 13:8-9