In 2013, exports to Asia nearly equaled those to the US for the first time, coming within 0.6 percentage points as a share of total exports.
This year, Asia will overtake the US as Israel’s second biggest export destination behind the EU, the Economy Ministry said.
The ministry expects exports to Asia to grow from 21 percent of total exports in 2013, to 24.5% in 2018, while combined exports to the EU and US will shrink from a 63% share to 59.9%.
Singapore-Israel trade grew some 24.6% year-on-year to hit almost S$2 billion in 2013.
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