The Israel Export and International Cooperation Institute (IEICI) reported last week that services exports in 2013 rose by 8%, to US$33.5 billion.
The IEICI's data indicate that the growth in services exports offset the drop in the exports of goods last year. The IEICI noted that 2013 was the second consecutive year in which exports of services offset a drop in the exports of goods, preventing a general drop in exports.
According to analysis made by the IEICI economists, exports of business services, excluding start-ups, rose in 2013 by 6.5%, compared to 2012, to US$21 billion. The start-ups item also contributed to overall export figures, after foreign companies acquired Israeli companies for US$6.5 billion in 2013.
The Israel Export & International Cooperation Institute is a trade association that facilitates trade, joint ventures, and strategic alliances between overseas businesses and Israeli companies. The association promotes industrial capabilities through exports; provides trade information, advice, and contacts; and offers services to business people and foreign trade delegations. Additionally, it organizes exhibitions, conferences, and trade shows for its clients.