Israeli semiconductor exports to China climbed by 80% year on year in 2018 to 2.6 billion yuan. The country’s interest in developing its market in China has seen a radical increase in recent times. In comparison to this, its exports to the United States of America dropped 20% to US$860 million, according to the Israel Export Institute shows.
ISRAELI EXPORTS WITNESS RISE
In an interview with National Business Daily, the Deputy Director of North East Asia Department in the Israel Ministry of Foreign Affairs and the former Consul General of Israeli Consulate Generate in Chengdu, Amir Lati, said: “The country’s semiconductor exports now contribute about 56% of total exports to China.”
Furthermore, semiconductors are not the only thing to prove critical in the betterment of Israeli export industry. Various technology products such as Smart manufacturing and medical devices also proved pivotal in the process.
Since the Israeli semiconductor industry has advanced and application-oriented R&D capacity, it is gaining its importance in China. In addition, a private equity investor with advanced knowledge of the modern industry also supported Israeli companies’ competence.
Israel has more than 160 semiconductor companies, and all international semiconductors giants have branches in the country. Amir Lati disclosed that a majority of Israel’s semiconductor export to China are products of Intel.