Israel - Market OverviewIsrael - Market Overview
The United States is Israel's single largest trading partner. Since signing the Free Trade Agreement (FTA) in 1985, U.S.-Israel trade has grown eight-fold. Nearly all non-agricultural trade tariffs between the United States and Israel have been eliminated since 1995.
In 2018, U.S. exports of goods to Israel were $13.7 billion, a 9% increase over that figure in 2017. Principal categories of U.S. merchandise exports to Israel in 2018 were miscellaneous manufactured commodities, transportation equipment, computer & electronic products, machinery and chemicals. In 2017, exports of U.S. goods and services combined to Israel were $18.65 billion, compared to $18.7 billion and $18.6 billion in 2016 and 2015 respectively. U.S. imports of goods and services from Israel in 2017 were $29.5 billion compared to 2016 and 2015 respectively (please fill in numbers).
Israel’s 2018 Gross Domestic Product (GDP) real growth increased by 3.3% over 2017. Israel’s GDP Purchasing Power Parity (PPP) in 2018 was $362.3 billion. Per Capita GDP increased from $38,427 in 2017 to $40,799, and Israel’s 2018 inflation rate increased to 1.1% from 0.4% in 2017. The inflation rate forecast for 2019 is 1.5%. Israel’s 2018 unemployment rate (working age population 15+) was 3.85%, compared to 3.86% in 2017.
According to SelectUSA, the total 2017 stock of foreign direct investment (FDI) from Israel to the United States was $39.3 Billion.