Israel’s exports are expected to have grown more than 10% to a record level of at least $160 billion in 2022, led by services exports, the Economy Ministry said on Sunday.
Exports, about 30% of Israel’s economic activity, were $144 billion in 2021, when services surpassed goods as the country’s top export for the first time.
Again in 2022, led by high-tech exports such as programming and research and development, services are likely to account for 51% of total exports, the ministry said.
The ministry said total exports could reach $165 billion in 2022, if the pace in the first three quarters of the year was maintained.
With a share of 38%, Europe is Israel’s largest trading partner, followed by America with 35% and Asia with 24%.
