Business Guide | Israel-India 2022

2 גרף 1,317 1,094 993 1,335 1,150 947 1,172 1,249 1,154 1,739 883 902 1,127 1,015 920 1,037 998 1,132 1,133 1,453 434 192 -133 320 230 -89 174 117 21 286 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Export of goods Import of Goods Trade balance Trade of Goods between India and Israel | 2012-2021 (In USD Billions) *Excluding diamonds 1 גרף 4.3 12.0 1.9 1.7 1.3 2.1 2.2 1.0 1.1 1.7 1.2 16.6 8.9 5.6 5.7 3.5 2.0 1.4 2.3 2.1 1.5 2.0 Export Import Top Countries in Trade of Goods with Israel | 2021 (In USD Billions) *Excluding diamonds Israel- India Economic Review Prepared by the Business Information Department, Israel Export Institute | 2022 I srael – India | Trade Relations Israel’s trade relations with India are among its most substantial and important international trade relations. As of theendof 2021 , India is rankedas the 10 th largest trading countryout of all of thecountries Israel tradeswith. For Israel, Indiaisthe 7 thlargestworldexportandthe 2 ndlargestinAsia, aswell asbeing its 13 th largest trade import sourceand the 4 th largest inAsiaafterChina, JapanandSouthKorea. In 2021 thescopeof tradebetween Israel and India increasedby 40 %. The scope of trade between the two countries excludes to increase over the coming years. India Trade Trends The scope of trade between Israel and India for 2021 amounted to 3 . 2 billion dollars, an increase of around 900 milliondollars on 2020 ( 2 . 3 billiondollars). After amoderate decrease in 2020 , the export of goods to India jumped by 51 % to a scope of 1 . 74 billion dollars. The import of goods also increased last year at a substantial rateof around 28 % to a scope of 1 . 45 billion dollars. The scope of trade with India in the last decade has fluctuated throughout the years. However, during the last decade the averageweight of trade export is higher than theweight of import, at 53 %compared to 47 %respectively. Between 2018 and 2020 , the net export in the trade balance gradually decreased to a low of 21 million dollars in 2020 as a result of a combination of some degree of reduction in exports alongwith an increase of imports. However, 2021 shows a significant increase in the net export, reaching approximately 286 million dollars due to the leap in exports. The overall goods trade volume with India grew to an all- time record, reaching 3 , 192 million dollars in 2021 . Sources: 1 ) IHS Markit | 2 ) CBS - Israel Central Bureau of Statistics General remark: Unless stated otherwise the data for import and export of goods is excluding diamonds and defined by country of origin The overall goods and services trade volume between Israel and India reached to an all-time record Top Countries in Trade of Goods with Israel | 2021 (In USD Billions) Trade of Goods between India and Israel | 2012 - 2021 (In USD Billions) Israel-India > Business Guide > 2022 18 > General Information > Trade Figures