Port2port News Service
Israeli economy is in the 38th place in terms of export volumes
The Israel Export and International Cooperation Institute (IEICI) reported last week that in its 65 years of existence, the State of Israel's volume of exports (goods and services) has grown 15,000 times, from some US$6 million in 1948 to some US$91 billion in 2012.
The report which was published in honor of Israel's 65th Independence Day noted that this is the sixth highest growth rate in the world during that period, putting the Israeli economy in the 38th place in terms of export volumes and 29th in terms of exports per capita, after South Korea and Britain and before France, Spain, Italy, Japan and the United States.
An analysis conducted by IEICI economists, examining the export growth rates from 1948 to 2012, ranks Israel in the sixth place in the world after the United Arab Emirates (whose volume of exports has grown 150,000 times during that period), South Korea (29,000 times), Oman (24,000 times), Qatar (24,000 times) and Taiwan (17,000 times). Israel is followed by China, whose volume of exports grew 3,900 times since 1948, and Japan (3,000 times).
The report noted that in 1948 total world export stood at US$58 billion out of which Israel's export accounted for 0.01%. In 2012 total global exports totaled US$18 trillion out of which Israel's export accounted for 0.35% and 0.4% out of total global export of goods and services which totaled US$22.2 trillion.