Year over year, the value of Israeli exports gained 1.9% % starting from $59.9 billion in 2023.
Applying a continental lens, over a third 37.3% of Israel’s exports by value was delivered to European countries while 33.1% was sold to importers in North America. Israel shipped another 23.8% worth of products to customers in Asia.
Smaller percentages went to buyers in Latin America (3.4%) excluding Mexico but including the Caribbean, Africa (1.4%) then Oceania (1%) led by Australia and New Zealand.
Israel’s Top Trading Partners
Below is a list showcasing 25 of Israel’s top trading partners, countries that imported the most Israeli shipments by dollar value during 2024. Also shown is each importing country’s percentage consumption of total Israeli exports.
- United States: US$17.3 billion (28.3% of total Israeli exports)
- Ireland: $3.3 billion (5.3%)
- mainland China: $2.8 billion (4.6%)
- Netherlands: $2.7 billion (4.5%)
- Germany: $2.4 billion (3.9%)
- India: $2.3 billion (3.8%)
- Hong Kong: $2 billion (3.3%)
- United Kingdom: $1.6 billion (2.6%)
- Belgium: $1.51 billion (2.5%)
- France: $1.42 billion (2.3%)
- Italy: $1.2 billion (2%)
- Brazil: $1.17 billion (1.9%)
- Spain: $962.8 million (1.6%)
- Taiwan: $959.8 million (1.6%)
- South Korea: $905.5 million (1.5%)
- Japan: $890.6 million (1.5%)
- Cyprus: $774.7 million (1.3%)
- Singapore: $750.6 million (1.2%)
- Romania: $689.1 million (1.1%)
- Türkiye: $598.9 million (1%)
- Switzerland: $578.8 million (0.9%)
- Canada: $570.2 million (0.9%)
- United Arab Emirates: $503 million (0.8%)
- Russia: $476.1 million (0.8%)
- Australia: $444.9 million (0.7%)
About four-fifths (79.8%) of Israeli exports in 2024 was delivered to the above 25 trading partners.
Israel increased its export revenues by the greatest percentages selling to Romania, propelled by a 48.6% gain from 2023 to 2024.
In second place were buyers in Hong Kong (up 16.7% from 2023) ahead of Israel’s customers in Germany (up 16.3%), Taiwan (up 13%) and the Netherlands (up 9.3%).
The severest decliners among the listed importers of Israeli products were buyers in Türkiye (down -59.7% from 2023), United Kingdom (down -19.5%), United Arab Emirates (down -16.2%), South Korea (down -14.2%) then Canada (down -14%).
Countries Causing Israel’s Largest Trade Deficits
Israel recorded a -US$30.5 billion product trade deficit for 2024, expanding by 31.3% from the -$23.2 billion in red ink one year earlier during 2023.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Israel incurred the highest trade deficits with the following countries.
- mainland China: -US$16.3 billion (country-specific trade deficit in 2024)
- Germany: -$3.3 billion
- Italy: -$2.4 billion
- Türkiye: -$2.3 billion
- Russia: -$1.9 billion
- Vietnam: -$1.3 billion
- South Korea: -$1.2 billion
- Spain: -$1.11 billion
- Japan: -$1.05 billion
- Czech Republic: -$1 billion
Among Israel’s trading partners that cause the greatest negative trade balances, Israeli deficits with Japan (up 61.9%), Vietnam (up 45.9%) and mainland China (up 41.6%) grew at the fastest pace from 2023 to 2024.
These cashflow deficiencies clearly indicate Israel’s competitive disadvantages with the above countries, but also represent key opportunities for Israel to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Israel’s Best Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Israel incurred the highest trade surpluses at the expense of the following countries.
- United States: US$7.8 billion (country-specific trade surplus in 2024)
- Ireland: $2.4 billion
- Netherlands: $1.2 billion
- Hong Kong: $878.7 million
- Cyprus: $627.3 million
- Brazil: $432 million
- Australia: $285.5 million
- Singapore: $277.3 million
- Slovenia: $276.3 million
- Malta: $230.4 million
Among Israel’s trading partners that generate the greatest positive trade balances, Israeli surpluses with Hong Kong (up 43.3%), Malta (up 34.8%) and Australia (up 26.2%) grew at the fastest pace from 2023 to 2024.
These positive cashflow streams clearly indicate Israel’s competitive advantages with the above countries, but also represent key opportunities for Israel to develop country-specific strategies to optimize its overall position in international trade.
Israeli Export Companies
Ten Israeli corporations rank among Forbes Global 2000. Below is a sample of the world-class Israeli companies that Forbes included.
- Bank Hapoalim (financial institution)
- Bank Leumi (financial institution)
- Check Point Software (information systems)
- Delek Group (investment services)
- FIBI Holdings (regional bank)
- IDB Holding (investment services)
- Israel Corp (investment services)
- Israel Discount Bank (regional bank)
- Mizrahi Tefahot Bank (regional bank)
- Teva Pharmaceutical (health care)
Shown within parentheses is the industry in which each country operates.
See also Israel’s Top 10 Imports, Israel’s Top 10 Exports, Palestine’s Top 10 Exports, Lebanon’s Top 10 Exports and Diamond Exports by Country
Research Sources:
Central Intelligence Agency, The World Factbook Middle East: Israel. Accessed on March 21, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 21, 2025
International Trade Centre, Trade Map. Accessed on March 21, 2025
Investopedia, Net Exports Definition. Accessed on March 21, 2025
Wikipedia, Israel. Accessed on March 21, 2025
Wikipedia, List of Companies of Israel. Accessed on March 21, 2025