As of 2024, Israel boasts an extensive and robust trade network, engaging with many countries in different sectors. Their trade activities cover an expansive array of goods and services that reflect their dynamic economy and strategic partnerships.
Israeli Export Partners
Israel’s major export destinations include The Observatory of Economic Complexity.
United States: Representing approximately 25.66% of Israel’s exports, the U.S. remains its leading market. World Integrated Trade Solution
China: Accounting for 12.20% of global exports, China is an indispensable trade partner, particularly when it comes to technology and electronics. World Integrated Trade Solution
Germany: Germany is currently receiving around 6.57 per cent of Israeli exports, predominantly machinery and chemicals. World Integrated Trade Solution
Switzerland: With an export tax rate of 5.65%, Switzerland is one of Israel’s key trading destinations for diamonds and pharmaceutical products. World Integrated Trade Solution
India: With an export share of 4.62 % to Israel, India engages with Israel in defense and agriculture sectors.
Israel’s primary import sources include:
World’s Top Exports Trading Economicstariitarii China supplies electronics and machinery at 13.9%. For 11.2%, U.S. supplies military equipment and technology.
Germany contributes 6.28% of exports of vehicles and industrial machinery to Israel.
Turkey: Representing 5.75% of imports into Israel, its trade includes textiles and food products. TrendEconomy
India: At 2.666%, its exports to Israel include chemicals and agricultural goods.
Trade with the European Union
Israel’s top trading partner is the European Union (EU), accounting for 32% of its total trade in goods. 34.2% of its imports came from there while 28.8% of exports went there in 2024. Trade and Economic Security
Free Trade Agreements
Israel has entered into several free trade agreements to bolster its economic ties.
Wikipedia United Arab Emirates (UAE): In 2022, they concluded a comprehensive accord to increase trade across various sectors. In Israel’s case this involved free trade agreements signed between countries like Russia and United Arab Emirates as well as agreements signed in China between 2023-2024 to reduce tariffs between various sectors…
South Korea and Vietnam both signed agreements aimed at electronics, cosmetics and automobiles that became effective from 2023. Vietnam signed one too which is expected to increase bilateral trade by 50%. Both deals can be found here on Wikipedia
United Kingdom: With Brexit complete, a free trade agreement covering various goods and services was made effective in 2021.
Wikipedia mes Emerging Trade Relations
Israel is aggressively exploring new trade opportunities:
Japan: Talks have begun for a free trade agreement that puts an emphasis on technology and innovation.
Singapore: Trade between both nations reached $3.8 billion in 2023, signaling their growing economic cooperation.
Wikipedia
Conclusion
Israel’s extensive trade network reflects its strategic economic policies and global partnerships. By expanding trade relationships and entering new markets, Israel continues to strengthen its position within the global economy.