Ahead of U.S. President Donald Trump's visit to Israel next week, the Israel Export Institute released data illustrating the deep economic relationship between Israel and the United States. Wednesday's report showed that Israeli exports to the U.S. increased by 5% in the first quarter of 2017, amounting to $3.1 billion. The IEI noted that the scope of Israeli exports to the U.S. in 2016 broke a six-year record, totaling $11.6 billion. Bilateral trade came to $19 billion, marking a 3% growth compared to 2015. The IEI noted that the U.S. is Israel's largest and most important commercial business partner in the world, and it is the leading target export market, as well as the most significant importer of goods to Israel. The increase in exports to the U.S. in 2016 was primarily the result of more high-tech products being exported. The data showed medical equipment exports also saw a sharp rise of 23% compared to 2015, amounting to $690 million. Export increases were also marked in other high-tech fields: Electronic components exports grew by 5% and came to $920 million; telecommunication equipment by 11% to $500 million; and electro-optics equipment by 1%, amounting to $800 million. Economy and Industry Minister Eli Cohen said Wednesday that his ministry was "working to expand exports to the U.S., with aim of reaching the primary goal of increasing exports to over $100 billion annually."
Israeli exports to US amount to $3.1 billion in Q1 2017
Israel Export Institute figures show 5% increase in Israeli exports to U.S. in the first quarter of 2017 • Exports to U.S. totaled $11.6 billion in 2016 • Economy and industry minister: Goal is to increase exports to U.S. by over $100 billion annually.
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