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Florida-Israel Trade Relations

"Some Americans have come to the Middle East looking for oil...[I] came to the Middle East looking for brains, and...stopped at Israel."

- Warren Buffet, 2006

The Israeli economy is a success story. Even though it has hardly any natural resources, and in spite of the wars and the waves of immigration that have placed an enormous load on it, Israel is placed among the most prosperous countries in the world. Two of the reasons for Israel’s economical success are external aid, totalling some 100 billion dollars to date, and an educated work force.

Since its establishment, Israel’s exports have grown from some 30 million dollars a year to over 30 billion dollars a year. Over this period, many changes have occurred in the Israeli economy. In the beginning, the State’s main exports were citrus fruit, as well as processed diamonds and some industrial products. Today, on the other hand, most of its exports consist of the products of high-tech industries in diverse areas such as electronics, software, hardware, optics, communications and medical instrumentation.

In the course of time, Israel’s economical ideology has also changed. In the beginning, the economy was prominently centralist, characterized by much State involvement in economic activity. Following political change in 1977, Israel’s economical ideology changed and, since the 1980s, the governments of Israel have adopted a liberal economical policy.

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Fast Facts:

  • GDP of the Israeli economy: $154 billion dollars (51st place in the world)
  • GDP per person: $22,944 dollars (44th place in the world).
  • Exports: $42 billion dollars a year
  • Imports: $45 billion dollars a year.
  • Annual Growth Rate: 5%
  • Inflation: 2%
  • Unemployment: 8.9%
  • Prominent sectors include high-tech, phamaceuticals, chemicals, tourism, the military industry, the metal industry and polished diamonds.
  • U.S Firms in Israel include IBM, Intel, Motorola, Apple and Microsoft
  • More scientists per capita than any other industrial country
  • More Israeli firms traded on Wall Street other than the US and Canada
  • 3rd largest destination for venture capital, behind California and Massachusetts
  • 2nd behind the United States in the development of Internet application software
  • Free Trade agreeemnts with United States, Canada, Europe, and European Union.
  • Israel serves as tariff-free and quota-free gateway to Europe for US firms.

Israel-Florida Trade Information

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