Which Countries Trade The Most With Israel And What Do They Buy And Sell?

Israel’s global trade in 2024 consisted of $91.5bn in imports and $61.7bn in exports.

On Tuesday, the United Kingdom government suspended free trade negotiations with Israel in response to its military conduct in the war on Gaza and the expansion of illegal settlements in the occupied West Bank.

Addressing the parliament, Foreign Secretary David Lammy said the UK government couldn’t continue talks on upgrading its existing trade agreement with an Israeli government pursuing what he called “egregious policies” in Gaza and the occupied West Bank.

This came a day after the UK, France and Canada threatened to take “concrete actions” against Israel if it does not stop its renewed offensive and lift aid restrictions in Gaza.

Meanwhile, the European Union has also taken a step towards reassessing its relationship with Israel with EU foreign policy chief Kaja Kallas confirming on Tuesday that the bloc had voted to review its trade cooperation agreement.

The United Kingdom and Israel embarked on negotiations for a modernised Free Trade Agreement (FTA) in July 2022, aiming to enhance their economic partnership by addressing areas not covered in their existing trade agreement, particularly services and digital trade.

According to United Nations Comtrade, a global database of official international trade statistics, in 2024, the UK ranked as Israel’s 11th largest import partner, with imports totalling some $1.96bn. The main products imported from the UK included machinery such as jet engines, electrical equipment, pharmaceuticals and vehicles.

Conversely, the UK was Israel’s eighth largest export destination, receiving Israeli exports valued at about $1.57bn, primarily of diamonds, chemical products, machinery and electronics.

Israel’s global trade in 2024 consisted of $91.5bn in imports and $61.7bn in exports.

Some of Israel’s top exports include:

Israel’s electronics sector is a key engine of its export economy, led by significant players like Intel, which runs large-scale chip fabrication facilities, as well as companies such as Elbit Systems and Orbotech, known for their expertise in military electronics and advanced manufacturing.

Israel is a major exporter of pharmaceuticals, driven by companies such as Teva Pharmaceuticals, one of the world’s largest generic drug manufacturers.

Israel is also a global leader in the diamond trade, importing billions of dollars worth of rough diamonds which are then cut, polished and processed domestically before being exported.

Israel sold $61.7bn worth of goods in 2024. The biggest importers of Israeli products were the United States with $17.3bn, Ireland with $3.2bn and China with $2.8bn. Hong Kong, a semiautonomous region of China that trade databases treat as a separate entity, imported an additional $2bn in products from Israel. Add that to China’s tally, and the country becomes the second-largest importer of Israeli products.