ISRAEL - Exports Soar by 68% Over the Past Decade

Arno Froese

Israel’s exports of services and goods are forecast to break another annual record in 2019 as full-year revenues climb toward $114 billion, the Foreign Trade Administration said.

The hefty increase during the past 10 years has been fueled by soaring exports of services, notably hi-tech exports. Service exports have soared by a staggering 160%, from $21.5b. in 2009 to almost $56b. in 2019. This year alone, service exports have increased by approximately 11.7%. Service exports represented approximately 49% of all exports in 2019, versus only 32% a decade ago.

Recent years have seen significant changes in the destination of exports. Total exports (excluding diamonds) to Asian countries grew from 18% in 2009 to 22% in 2019, driven by a huge 402% leap in exports to China over the past decade. Exports to Japan and Taiwan also increased by 73% and 38% respectively.

Significant growth was also recorded in Latin America, where exports grew by more than 40% or approximately $584m. over the past decade. The Latin American region currently constitutes the destination for approximately 5% of all non-diamond exports.

After China, the greatest decade-long increases in exports were registered in the United Kingdom (286%), Poland (162%), Japan (73%), Turkey (66%) and Brazil (61%).

The Foreign Trade Administration is currently in negotiations to secure agreements with a list of major trading partners, including China, Russia, Vietnam and Kazakhstan.

-www.jpost.com, 30 December 2019

Arno's commentary

The key to Israel’s success is simply free trade. It is quite an achievement to read that exports to communist China increased by 402% over the last decade. Israel’s foreign trade association is busy negotiating with as many countries as possible, establishing open and free trade with individual countries. Jews in particular have a spirit of knowledge in dealing with strangers. Ecclesiastes 1:9-10 reads: “The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun. Is there any thing whereof it may be said, See, this is new? it hath been already of old time, which was before us.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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