Israel’s exports to Chine soar by 50%

Israel’s exports of computer chips to China soared last year. Chinese companies bought more semiconductors from the American multinational corporation and technology company Intel, manufactured at their plant in the Israeli southern city of Kiryat Gat, than from any other one entity. An official at the Israel Export Institute revealed new data, in which “semiconductor exports to China jumped 80 percent last year, amounting to 2.6 billion dollars” – with Intel Israel accounting for at least 80 percent of those sales.

As a result of the anticipated growth, Intel announced the 2017 investment of 5 billion dollars in its Kiryat Gat plant. The plant’s export increased from 3.6 billion dollars’ worth-of-goods in 2017 to 3.9 billion dollars’ worth in 2018.

This data is viewed as a welcomed development by the Israeli government, which has been pushing for the deepening of national trade ties with the Chinese economy.

The two countries have started negotiating a bilateral trade agreement, with technological aspects expected to be a major part of the discussions. It is important to note that overall exports of Israeli goods to China, excluding diamonds, have risen 50 percent to 4.7 billion dollars.