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Israel exports to reach record of more than $160 billion in 2022

JERUSALEM: Israel s exports are expected to have risen more than 10% to a record level of at least $160 billion in 2022, led by exports of services, the Economy Ministry said on Sunday.

Exports, some 30% of Israel s economic activity, were $144 billion in 2021, when services overtook goods as the country s main export for the first time.

Again in 2022, led by high-tech exports such as programming and research and development, services will likely account for 51% of total exports, the ministry said.

Read more: China central banker calls for strengthening property sector policies

The ministry said that total exports could top $165 billion in 2022 if the pace over the first three quarters of the year was maintained.

At a 38% share, Europe is Israel s largest trading partner, followed by the Americas at 35% and Asia at 24%.

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