Services exports data for September and for January-September 2016
November 30, 2016
Bottom line: Israeli service exports continued to record a stellar performance in the third quarter of 2016, extending the strong growth that has characterized this year after two years of relative stagnation — and largely offsetting the weakness in exports of goods. The high-tech sectors are leading this trend, with revenues from the sale of start-ups tripling in January-September. Tourism revenues have stabilised, after suffering a series of blows in the second half of 2014 and in 2015.
- Total services exports for September were $3.57bn, an increase of some 21% over the $2.95bn recorded in September 2015 (non-seasonally adjusted data).
- This was the highest-ever level of exports for September — the latest in a series of monthly records encompassing most of 2016.
- Total services exports for January-September, at just over $29bn, were 12.2% up on the parallel period in 2015, when they totaled $25.9bn.
- Sales of start-up companies and “other exceptional transactions” generated $1.3bn in Jan-Sep, well over triple the $430mn in Jan-Sep 2015.
- Total exports for “other business services” — which includes sales of start-ups but covers a wide span of sectors, mainly high-tech — rose almost 19% in the first nine months of the year, to $22.35bn.
- ‘Scientific R&D’ was the most prominent sector within ‘other business services’: its exports rose 60% in January-September, from $3.09bn to $4.95bn.
- Exports of travel services — mainly incoming tourism — were stable at around $4bn in Jan-Sep, after two years of sharp declines.
- Transportation services — airlines and shipping — suffered a 13% decline through September, to $2.7bn.