(JNS) Israeli exports are on track to reach an all time record of $165 billion in 2022—a 15 percent increase from 2021.
In 2021, Israeli exports hit $143 billion, which itself was a record, according to figures released by Israel’s Foreign Trade Administration and presented by Economy and Industry Minister Orna Barbivai, Israeli business daily Globes reported on Wednesday.
“The report showed that for the first time in 2021 exports of Israeli services outstripped those of goods, by 52% to 48%, and this trend is expected to continue, with the gap widening in favor of services,” according to Globes.
Exports of goods increased by 17% in 2021 compared to the previous year, while service exports grew by 34%.
“The 2021 figures surprised us as being exceptional, especially compared with previous years, including the years before COVID and global economic crises,” said Foreign Trade Administration head Ohad Cohen according to the report.
“The data for growth in the services sector are the result of unprecedented growth in the export of services in recent years, especially over the past year by the high-tech sector and the transport services sector, which also saw a significant rise in prices,” he added.
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Preceding provided by JNS.org