China to surpass the US to become Israel’s largest source of goods imports in 2021

China-to-surpass-the-US-to-become-Israel's-largest-source-of-goods-imports-in-2021

Statistics released by Israel’s Central Bureau of Statistics last Thursday (20th) show that in 2021, China will surpass the United States to become Israel’s largest source of imports of goods.

According to the report, last year, Israel’s imports from China totaled US$10.7 billion, compared with US$7.7 billion in 2020, a year-on-year increase of nearly 40%; Israel’s total imports from the United States in 2021 totaled US$8.2 billion, compared with 2020’s total of US$8.2 billion. compared to only a slight increase. The U.S. remains Israel’s largest exporter of goods in 2021.

The Times of Israel noted that this data was released on the eve of the Israeli government’s statement that it would let the Biden administration pay close attention to its major trade deals with China to avoid further tensions between Israel and the United States. According to the report, as the relationship between the United States and Europe has tightened with China, both the Biden and the former Trump administration have expressed “concern” about the warming relationship between Israel and China.

However, the report mentioned that China and Israel held the fifth meeting of the China-Israel Innovation Cooperation Joint Committee by video on the 24th. According to reports, at the meeting, Israeli Prime Minister-designate and Foreign Minister Lapid said that deepening innovation cooperation is an important consensus of Chinese leaders. Over the past 30 years since the establishment of diplomatic relations, Israel-China relations have enjoyed a strong momentum of development and fruitful achievements in innovation cooperation. Israel is willing to cooperate closely with China, give full play to the role of the Joint Committee, and promote Israel-China innovation cooperation to better benefit the two peoples.