Israel Exports $3.1 Billion to US in First Quarter of 2017, a 5-Percent Increase
JNS.org – Ahead of President Donald Trump’s visit to Israel next week, the Israel Export Institute (IEI) released data showing the deep economic relationship between Israel and the US.
Wednesday’s report showed Israeli exports to the US increased five percent in the first quarter of 2017, amounting to $3.1 billion.
The IEI noted that the scope of Israeli exports to the US in 2016 broke a six-year record, totaling $11.6 billion. Bilateral trade came to $19 billion, marking three-percent growth compared to 2015.
The IEI noted that the US is Israel’s largest and most important commercial business partner in the world, as well as its leading target export market and most significant source of imported goods.
The data showed Israeli medical equipment exports to the US saw a sharp rise of 23 percent from 2015, amounting to $690 million. Export increases came in other high-tech fields such as electronic components (five-percent growth to $920 million) and telecommunication equipment (11-percent growth to $500 million).
Israel’s Economy and Industry Minister Eli Cohen said Wednesday his office was “working to expand exports to the US, with aim of reaching the primary goal of increasing exports to over $100 billion annually.”