Israel

• Official languages: Hebrew.
• Geographical location: it is a country in the Middle East, located on the southeastern shore of the Mediterranean Sea and the northern shore of the Red Sea. It has land borders with Lebanon to the north, Syria to the northeast, Jordan on the east, the Palestinian territories of the West Bank and Gaza Strip to the east and west, respectively, and Egypt to the southwest. 
• Administrative divisions: the State of Israel is divided into six main administrative districts, known as mehozot — Center, Haifa, Jerusalem, North, South, and Tel Aviv districts, as well as the Judea and Samaria Area in the West Bank. All of the Judea and Samaria Area and parts of the Jerusalem and Northern districts are not recognized internationally as part of Israel. Districts are further divided into fifteen sub-districts known as nafot, which are themselves partitioned into fifty natural regions.
• Capital: Jerusalem.
• Governance: Israel is a parliamentary democracy with universal suffrage. A member of parliament supported by a parliamentary majority becomes the prime minister — usually this is the chair of the largest party. The prime minister is the head of government and head of the cabinet. Israel is governed by a 120-member parliament, known as the Knesset. Israel has a three-tier court system. At the lowest level are magistrate courts, situated in most cities across the country. Above them are district courts, serving as both appellate courts and courts of first instance; they are situated in five of Israel's six districts. The third and highest tier is the Supreme Court, located in Jerusalem.
• Population: 8.985 million.
• Currency: New shekel.
• GDP: $350 billion.
• Time zone: GMT+2, GMT+3.
• Telephone code: +972.
• Barcode: 729.

Trade and economic cooperation between Belarus and Israel

Israel's economic performance in 2018: 

• GDP growth — 3.2%;
• FX reserves — $115.2 billion (increased by $2.2 billion as compared to 2017);
• Foreign debt — $92.9 billion (increased by $4.2 billion as compared to 2017);
• Yearly average inflation — 0.8%;
• Unemployment — 4.3% (as of January 2019);
• Average salary — 10 800 shekels (about $3000 as of December 2018);
• Trade turnover — $130 billion;
• Exports — $54.2 billion;
• Import — $75.6 billion;
• Credit ratings:
  • АА- («Standard & Poor's»)
  • А1 («Moody`s»);
  • А+ («Fitch»).

In 2018, trade turnover between Belarus and Israel was up 15.3% to $162.4 million as compared to 2017. Belarus' exports increased by 22.4% to $93.9 million, imports — by 7% to $68.5 million. Trade surplus was up $12.6 million to $21.1 million as compared to 2017.

Belarus' most valuable export products:

• Base metal mountings (BMZ, OJSC);
• Polyamides (Grodno Azot, OJSC);
• Nonwovens (Mogilvekhimvolokno, OJSC);
• Ice cream and fish (Santa Bremor, JV);
• Insulated wire, cable (Fiberlab, Ltd.);
• Liquid crystal devices (OEM Tech, Ltd. and Solar LS, CJSC);
• Moulding boxes for metal foundry (Complex Service, PC).

In 2018, Belarus mainly exported orthopaedic appliances, cut flowers, fruit juices, crop protection agents, agricultural machinery, plastics, some kinds of food products, adornment plants, cosmetics, medicaments and fruits to Israel.

Dynamics of trade in goods between Belarus and Israel in 2014 — 2019 (in million U.S. dollars)

The following factors reasonably constrain Belarusian exports to Israel:

• Israel mainly imports raw materials;
• domestic market is saturated with products of world brands, which have been there for a long period of time and have more attractive prices, because Israel has free-trade areas with a number of other countries;
• food market has its peculiarities, determined by kashrus requirements.

Belarus's most promising products to export to Israel (in thousand U.S. dollars)

In 2018, trade in services between the countries was up 11% to $55.1 million as compared to 2017. Belarus' exports of services increased by 17% to $38.7 million, imports decreased by 1.6% to $16.3 million. Trade surplus was up $5.6 million to $22.4 million as compared to 2017.

Dynamics of trade in commercial services between Belarus and Israel in 2014 — 2018 (in million U.S. dollars)

Belarus' exports of IT services to Israel in 2014 — 2018 (in million U.S. dollars)

Belarus' exports of educational services to Israel in 2014 — 2018 (in thousand U.S. dollars)

Belarus' exports of travel services to Israel in 2014 — 2018 (in million U.S. dollars)

Israel's investment in Belarus was up 118% to $14.3 million, FDI net inflows — by 95.3% to $3.87 million as compared to 2017.

FDI net inflows

This article has been prepared on the basis of information provided by the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs, and the Embassy of the Republic of Belarus in the State of Israel, and taken from public sources. The information presented herein is for informative purposes only. In this regard, it may be useful for the companies, which have been working in Israel for a long time, as well as for those, which are going to enter this market. Any questions, feedbacks and comments concerning this article are welcome. All of them will be fully considered and taken into account, if possible. If you have any information that may be interesting and useful for the visitors of this page, please write to us.

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