Israel’s hi-tech exports rise 17.9 pct in Jan.-Aug.

JERUSALEM, Sept. 14– Israel’s hi-tech industry exports increased by 17.9 percent year on year in January-August, the country’s Central Bureau of Statistics reported Wednesday. In August, Israel’s hi-tech exports reached 1.95 billion U.S. dollars, up 24.2 percent from the 1.57 billion U.S. dollars in August last year. The Israeli exports of goods rose by 22.5…

JERUSALEM, Sept. 14 (Xinhua) — Israel’s hi-tech industry exports increased by 17.9 percent year on year in January-August, the country’s Central Bureau of Statistics reported Wednesday.

The figures show that Israeli hi-tech exports totaled about 14.8 billion U.S. dollars in the first eight months of 2022, compared with 12.55 billion U.S. dollars during the same period in 2021.

In August, Israel’s hi-tech exports reached 1.95 billion U.S. dollars, up 24.2 percent from the 1.57 billion U.S. dollars in August last year.

Assaf Kovo, chief economist at the Israel Innovation Authority, said the increase in export figures was part of the continuous growth in all segments of Israeli hi-tech, indicating its significant strength.

“Regarding continued growth in the short term, there is no substantial cause for concern, especially given the power the sector has demonstrated after the declines in global markets in the first half of 2022,” he added.

Meanwhile, Israel’s trade deficit rose 26.2 percent from 22.9 billion dollars in January-August last year to 28.9 billion in the same months this year.

The Israeli exports of goods rose by 22.5 percent to about 44.3 billion dollars during the first eight months of 2022, while Israel’s total imports in the same period rose 24 percent year on year to 73.2 billion dollars. Enditem

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