Israeli Exports of Services on Rise, Particularly in High-Tech Sector

Israel’s Central Bureau of Statistics reported on Tuesday that the country’s export of high-tech services rose by 13.5% year-on-year in the third quarter of 2022. The total value of high-tech services that Israel exported abroad in July-September 2022 was $11.95 billion. The figure for the same period in 2021 was $10.53 billion. Exports of high-tech services rose by 13.8% year-on-year in the first nine months of 2022, reaching $35.12 billion. The same period, January to September, in the previous year saw high-tech service exports of $30.86 billion. The main reason for the rise was the increased activities of Israeli growth companies, particularly in computer programming, said Assaf Kothevo, chief economist at the Israel Innovation Authority.

The export of all services by Israeli companies rose by 16.4% year-on-year in the third quarter of 2022, reaching $21.53 billion, and 25.2% year-on-year in January-September 2022, reaching $64.08 billion. China’s Xinhua news agency quoted the Israel Export Institute as saying, “The increase is mainly due to the expansion of transportation services exports, affected by the surge in global freight prices, and the recovery in exports of tourism services.”