Israel's hi-tech services exports up 19 pct in 2020

Economy Materials 24 February 2021 23:57 (UTC +04:00)
Israel's hi-tech services exports up 19 pct in 2020

Israel's exports of hi-tech industries services, excluding start-up companies, rose by 19 percent from 30 billion U.S. dollars in 2019 to 35.7 billion dollars in 2020, according to a report by the Central Bureau of Statistics released on Wednesday, Trend reports citing Xinhua.

In contrast to export of merchandise, export in services refers to the sale and delivery of intangible products such as transportation, tourism, telecommunications, construction, advertising, computing, accounting and R&D.

The leading type of services exported from Israel in 2020 was computer programming, including consultancy and related activities, data processing, hosting-related activities and web portals.

Israel's exports of services from start-up companies totalled 752 million dollars, a fall of 75.2 percent from 3.03 billion dollars in 2019, the report said.

The data show the exports of Israel's scientific R&D services decreased by 6.2 percent in 2020 compared with 2019, thus totalling about 7.6 billion dollars in 2020 compared with about 8.1 billion dollars in 2019.

The report also shows that Israeli travel services exports dropped 67.1 percent, from 7.6 billion dollars in 2019 to 2.5 billion dollars in 2020, while transportation services exports decreased by 6.7 percent, from 4.5 billion dollars to 4.2 billion dollars.

In total, Israeli services exports amounted to 53.9 billion dollars in 2020, down 2.9 percent from 55.5 billion dollars in 2019.