U.S.-Israel Trade Jumps to Record Levels in 2004

(March 23, 2005)

Total trade between Israel and the United States totaled more than $23.7 billion in 2004, beating the previous record high by more than $3 billion. The 2004 figure represented a 21% increase from the previous year. Imports from Israel reached a new high of $14.5 billion, up 14%, while exports to Israel soared 33% to nearly $9.2 billion. Gem diamonds accounted for nearly half the import total and about one-third of the exports. While the United States continues to have about a $5.3 billion trade deficit with Israel, that figure represents a decline of 9% from 2003. Israel is now America's 19th leading trade partner.

Sources: International Trade Administration (Imports from IsraelExports to Israel)