Tuesday January 4, 2021
I've Been Thinking:

It is the end of the year 2021, an appropriate and natural time to take a look at end of year business numbers.

Despite COVID, Israel’s exports hit a record of $140 billion worth of exports in 2021. That is an increase of 18% over last year 2020.

To understand the enormity of the number - in the year 2019, Israeli exports were a comparatively mere $117.5 billion.

Also this year - for the first time – services exceeded goods in exports… meaning 51% of Israel’s exports were services, including startups, while goods and products produced in Israel composed 49% of their exports.

Another business highlight for Israel in 2021 was the entry of the Israeli unit of Teva Pharmaceutical into the medical cannabis market. Teva Israel signed an agreement with Tikun Olam Cannbit, an Israeli cannabis company.

Under the agreement Tikun Olam will produce cannabis oil and Teva will market it.

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