The Federation of Israeli Chambers of Commerce reported that service exports climbed 6.4% (US$512 million) in the first quarter of 2014 from a year earlier to US$8.5 billion.
Although service exports account for just over a third of Israel’s total exports, their share is growing and their value-added is a very high 70%, the Chamber noted.
Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.
