Israel’s Top 10 Imports

Dazzling diamond bracelet courtesy of Pixabay.com

Dazzling diamond bracelet

Israel imported US$69.1 billion worth of goods from around the globe in 2017, down by -4% since 2013 but up by 5% from 2016 to 2017

Israeli imports represent just 0.4% of total globally imported products which totaled $16.054 trillion one year earlier in 2016.

From a continental perspective, about 42% of Israel’s total imports by value in 2017 were purchased from European countries. Asian trade partners supplied 34% of import purchases by Israel while 12.5% worth of goods originated from North America. At 0.6%, a much smaller percentages came from Africa despite Israel’s relatively close proximity to the Dark Continent.

Given Israel’s population of 8.3 million people, its total $69.1 billion worth of 2017 imports translates to roughly $8,300 in yearly product demand from every person in the country.

Israel’s Top 10 Imports

Top 10

The following product groups represent the highest dollar value in Israel’s import purchases during 2017. Also shown is the percentage share each product category represents in terms of overall imports into Israel.

At the more detailed four-digit Harmonized Tariff System code level, Israel’s most valuable imported products are unmounted and unset diamonds followed by crude oil, cars, machinery for making semi-conductors, mobile phones then refined petroleum oils.

  1. Machinery including computers: US$9.4 billion (13.7% of total imports)
  2. Mineral fuels including oil: $7.6 billion (11%)
  3. Electrical machinery, equipment: $7.3 billion (10.6%)
  4. Gems, precious metals: $7.1 billion (10.3%)
  5. Vehicles : $5.8 billion (8.4%)
  6. Plastics, plastic articles: $2.6 billion (3.8%)
  7. Optical, technical, medical apparatus: $2.5 billion (3.6%)
  8. Pharmaceuticals: $2.2 billion (3.1%)
  9. Organic chemicals: $1.5 billion (2.2%)
  10. Iron, steel: $1.3 billion (1.9%)

Israel’s top 10 imports accounted for over two-thirds (68.5%) of the overall value of its product purchases from other countries.

Imported mineral fuels including oil had the fastest-growing increase in value among Israel’s top 10 import categories, up 30.5% from 2016 to 2017.

In second place for improving import purchases was the iron or steel category, up 17%. Israeli imports of organic chemicals delivered the third-fastest gain up 14.1%.

Three import product categories showed year-over-year declines: vehicles (down -16.4%), electrical machinery and equipment (down -10%) and gems or precious metals (down -5.3%). The latter was mostly due to a modest slowdown in Israeli purchases of diamonds on international markets.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.

Machinery

In 2017, Israeli importers spent the most on the following 10 subcategories of machinery including computers:

  1. Machinery for making semi-conductors: US$2.2 billion (up 22.7% from 2016)
  2. Computers, optical readers: $1.4 billion (up 11.5%)
  3. Turbo-jets: $652.1 million (up 29.3%)
  4. Printing machinery: $428.6 million (down -1.2%)
  5. Refrigerators, freezers: $323.2 million (up 8.7%)
  6. Centrifuges, filters and purifiers: $311.6 million (up 7.7%)
  7. Taps, valves, similar appliances: $310.8 million (down -2.3%)
  8. Air conditioners: $288.5 million (down -3.2%)
  9. Air or vacuum pumps: $269.5 million (up 10.4%)
  10. Heavy machinery (bulldozers, excavators, road rollers): $249.9 million (down -3.2%)

Among these import subcategories, Israeli purchases of turbo-jets (up 29.3%), machinery for making semi-conductors (up 22.7%) and computers or optical readers (up 11.5%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery including computers among Israel’s businesses and consumers.

Fuel

In 2017, Israeli importers spent the most on the following 10 subcategories of mineral fuels-related products:

  1. Crude oil: US$4.5 billion (up 37% from 2016)
  2. Processed petroleum oils: $1.9 billion (up 12.1%)
  3. Coal, solid fuels made from coal: $750.9 million (up 44.3%)
  4. Petroleum gases: $338.9 million (up 30.7%)
  5. Petroleum oil residues: $34.5 million (up 153.1%)
  6. Coal tar oils (high temperature distillation): $12.9 million (up 277.7%)
  7. Petroleum jelly, mineral waxes: $11.4 million (up 215.2%)
  8. Peat: $8.9 million (up 12.3%)
  9. Asphalt/petroleum bitumen mixes: $4.1 million (up 11.5%)
  10. Tar pitch, coke: $508,000 (up 74%)

Among these import subcategories, Israeli purchases of high-temperature distilled coal tar oils (up 277.7%), petroleum jelly or mineral waxes (up 215.2%) and petroleum oil residues (up 153.1%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuels-related products among Israel’s businesses and consumers.

Electronics

In 2017, Israeli importers spent the most on the following 10 subcategories of electrical products including consumer electronics:

  1. Phone system devices including smartphones: US$2 billion (up 22.8% from 2016)
  2. Integrated circuits/microassemblies: $1 billion (down -61.7%)
  3. TV receivers/monitors/projectors: $378 million (up 5.5%)
  4. Insulated wire/cable: $374.3 million (up 13.6%)
  5. Lower-voltage switches, fuses: $345.8 million (up 10.5%)
  6. Electrical converters/power units: $305.6 million (up 10.7%)
  7. Electric generating sets, converters: $289.7 million (up 0.4%)
  8. Unrecorded sound media: $213.9 million (up 32.6%)
  9. Electric water heaters, hair dryers: $207.8 million (up 8.1%)
  10. Solar power diodes/semi-conductors: $196.3 million (up 34.7%)

Among these import subcategories, Israeli purchases of solar power diodes or semi-conductors (up 34.7%), unrecorded sound media (up 32.6%) and phone system devices including computers (up 22.8%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electrical products among Israel’s businesses and consumers.

Gems

In 2017, Israeli importers spent the most on the following 10 subcategories of gems and precious metals:

  1. Diamonds (unmounted/unset): US$6.7 billion (down -6.1% from 2016)
  2. Jewelry: $207.6 million (up 4.2%)
  3. Silver (unwrought): $43.9 million (up 13.9%)
  4. Precious/semi-precious stones (unstrung): $34 million (down -37.4%)
  5. Coins: $33.1 million (up 5391.9%)
  6. Imitation jewelry: $29.9 million (up 10.3%)
  7. Gold (unwrought): $9.5 million (up 85.8%)
  8. Goldsmith/silversmith wares: $9.2 million (up 48.6%)
  9. Synthetic precious stones: $6.2 million (up 40.3%)
  10. Platinum (unwrought): $5.7 million (up 76.9%)

Among these import subcategories, Israeli purchases of coins (up 5,392%), gold (up 85.8%) and platinum (up 76.9%) grew at the fastest pace from 2016 to 2017.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported precious metals and gems among Israel’s businesses and consumers.



 
See also Israel’s Top Trading Partners and Israel’s Top 10 Exports

Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 12, 2018

The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on March 12, 2018

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on March 12, 2018