Israel’s Ministry of Economy reports a record export from emerging markets in Asia

This is four billion higher than preliminary forecasts and three billion higher than the 2022 peak.

The main drivers of growth were the software and research and development sectors, which offset stagnation in traditional industries.

A joint analysis of data from the Foreign Trade Authority and the Central Bureau of Statistics shows that while exports to Europe suffered a decline due to logistical and political reasons, there was a rapid economic recovery in emerging markets.

The greatest contribution to this growth was made by Asian countries, where Israel’s economic representative offices operate: a significant increase in exports was recorded in the markets of Vietnam, the Philippines, Thailand, Japan, India, and Azerbaijan. Also, a sharp increase of 33% was noted in exports to Serbia.