In 2024, Israel’s global trade exceeded $207 billion for the first time, highlighting the depth of Israel’s economic relations with countries around the world. The nation’s imports reached $91.5 billion, while our exports only topped $61.7 billion. This report highlights the key players in Israel’s trade relationships, the primary goods exchanged, and the economic implications of these transactions.
Israel’s economy depends on vibrant import and export markets. It sells or trades a wide array of commodities to foreign buyers, from missile defense systems to soybeans. Weaving together the country’s trade realities with its tech investments and resource needs, China continues to adjust course in today’s international trade landscape.
Major Trading Partners and Their Contributions
Notably, China became Israel’s biggest trading partner in 2024, with $19 billion in Chinese exports to Israel. This record number is further testament to the strengthening economic ties between the two countries. The vast majority of Chinese exports to Israel consist of machinery, electronics, and consumer goods. This demand has been met by Israel’s relentless thirst for technological innovation.
The United States is Israel’s other major source of military exports, with US sales totaling $9.4 billion. Explosive munitions, diamonds, electronics and chemical products rank among the U.S.’s top four imports supplied to Israel. This staggering breadth of wares speaks to the deep military and economic partnership offered by the two countries.
Germany’s influence on Israel’s trade picture can’t be overstated, as it’s the third largest exporter to the country with $5.6 billion in exports. Germany imports raw materials, foodstuffs, and fuels. Germany exports automotive parts, machinery, and high-tech equipment. This greatly enhances Israel’s global standing as a centre for technological innovation.
Composition of Imports and Exports
Additionally, Israel’s imports in 2024 included all sorts of critical, basic foods. Electrical machinery, electronics and mechanical appliances were the leading categories, amounting to over $19 billion. These imports are vital to sustaining Israel’s muscular technology sector.
Freight transportation Vehicles—including cars, trucks, buses, and planes—were yet a third significant piece of Israel’s imports, valued at around $10 billion. This category is a clear result of the nation’s continued investments in transportation infrastructure and mobility solutions.
Moreover, Israel received optical, technical and medical apparatus in the amount of $7 billion imported by Israel. This reflects the country’s strong focus on healthcare technology, as well as the government’s dedication to ensuring delivery of world-class quality medical care. Mineral products, including petroleum, coal and cement, made up over $7 billion in import value added. These materials are absolutely indispensable to our construction and energy sectors.
Export Dynamics and Key Products
Israel is a thought leader in the pharmaceutical industry, home to the global leader Teva Pharmaceuticals and other major players. The country exports a huge amount of drugs around the world, a testament to its impressive research and development of quality pharmaceuticals.
Israel plays a key role in the international diamond trade. It imports billions of dollars worth of rough diamonds to process and export. Trade and economic assistance are immensely important for stimulating Israel’s economy. It hardens the country’s reputation as an important destination for the jewelry trade.
Integrated circuits, or semiconductors, are, by far, Israel’s largest exported goods. Also in 2024, Ireland became the biggest purchaser of electronic integrated circuits and microassemblies. That year, the country imported more than $3 billion in these products from Israel. This collaboration is an example of the increasing importance of the tech sector to each country’s economy.
