In the past decade, Israel has become a leading supplier to the global telecommunications industry. The country is a key player also within the semiconductor sector, including microprocessors, data and voice communications, network communications, automotive and defence. A combination of this, and the fact that Israel has a proven ability to continually produce innovative technologies, has made the country attractive for investments and partnerships.
Swedish exports to Israel amounted to SEK 2.42 billion in 2014, which is a decrease of 18 percent from the year before. At the same time imports from Israel increased with 14 percent, reaching SEK 1.20 billion. Some of the most noteworthy exports are trucks, telecommunications and paper. Sweden mainly imports technology products and foodstuffs from Israel.
The Israeli market offers business opportunities in several areas. In particular, the pharmaceutical industry, medical technology, ICT, the chemical industry as well as space and defence technology provides prospects for Swedish companies. In 2000, an agreement was signed between Sweden and Israel regarding development and research collaboration in high technology. Within the framework of the agreement a specific project was created – SIBED – aimed at promoting and encouraging development in fields that experience high levels of innovation.
Business Sweden’s office in Vienna is the regional office supporting Swedish companies in Israel. Our team working with Israel supports Swedish companies with for example partner search, market expansion and market analysis as well as stakeholder management.