Israel: Exporter Guide
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Israel is an advanced, market-oriented economy. However, its limited land and water resources preclude agricultural self-sufficiency, affecting local production costs and consumer prices. The country is a net food importer; in 2020, food and agricultural product imports were valued at $7.1 billion while exports totaled $2.2 billion. Demand for organic, healthy or natural foods is increasing. Niche products that target a specific health issue like diabetes or celiac disease (gluten-free food) are experiencing growth in demand, as well as vegetarian and vegan products. This report provides an overview of Israeli market dynamics and trends, as well practical tips for doing business in Israel. The COVID-19 pandemic has shaken the Israeli economy and Israel’s GDP decreased by 2.61 percent in 2020. According to Israel’s Central Bank forecast, GDP is expected to grow by 7 percent in 2021 and by 5.5 percent in 2022.
