The bilateral trade between Israel and Taiwan has been growing substantially in recent years.  Bilateral trade in 2004 reached 1.12 billion US dollars.  Exports from Israel to Taiwan increased by 95%, reaching 559 million dollars. This growth in exports is due to an increase of 130% in the exports of medical equipment, which account for 31% of the exports and from an increase of 95% in the exports of machinery and mechanical equipment, which account for 50% of the exports.  Imports from Taiwan to Israel increased by 33% - to 561 million dollars, during the same period.  The main import components are machinery and mechanical equipment, which account for 68% of imports, chemicals and plastics products, 10%, and textile, 5%.

 

The growth trend continued in 2005, with exports reaching 578 million dollars, an increase of 1/6% over 2004.  The main increase was in exports of electronic equipment and machinery which account for 54% of exports (a 10% increase over 2004), exports of medical and optical products (25% of exports, a decrease of 17% over 2004), and the exports of chemical products (12% of exports, an increase of 24% over 2004). Imports grew by 3.3% compared to 2004, reaching 582 million dollars.  The main import components are electronic equipment and machinery which account for 68% of imports, plastics products (7%) and metals (6%).

 

Total Trade (including diamonds)	2001	2002	2003	2004	2005
Exports	331	332	298	559	578
Imports	430	369	386	561	582
Trade Balance	-99	-37	-88	-2	-4
Total Bilateral Trade	761	701	684	1120	1160

 

The main export segments are equipment and machinery, mainly production and testing equipment to the hi-tech sector (IC, semiconductors), medical equipment and chemicals.  In addition, there is substantial export of communication equipment, both as products and complete systems and solutions that are sold to telecommunications operators and as components that are integrated in other manufacturers’ equipment on an OEM basis.  Another major export segment is chemicals.