Israel

The U.S.-Israel economic and commercial relationship is strong, anchored by bilateral trade of close to $50 billion in goods and services annually. U.S.-Israel bilateral economic relations are codified in a number of treaties and agreements, including the 1985 U.S.-Israel Free Trade Agreement (FTA) and the Agreement on Trade in Agricultural Products. Since signing the FTA in 1985, U.S.-Israel bilateral goods and services trade has grown eight-fold, making the United States Israel’s largest trading partner. U.S. goods exports to Israel in 2019 were $14.7 billion, with $19.6 billion of imports in 2019. U.S. exports of services to Israel were an estimated $5.7 billion in 2019, with imports of $7.4 billion. The United States and Israel also coordinate scientific and cultural exchanges through the Binational Science Foundation (BSF), the Binational Agricultural Research and Development Foundation (BARD), Binational Industrial Research and Development Foundation (BIRD) and the U.S.-Israeli Education Foundation. To facilitate economic cooperation, the two countries convene a Joint Economic Development Group each year to discuss our economic partnership and possible initiatives for the coming year.

Israel and the United States belong to a number of the same international organizations, including the United Nations, Organization for Economic Cooperation and Development, International Monetary Fund, World Bank, and World Trade Organization. Israel also is a Partner for Cooperation with the Organization for Security and Cooperation in Europe and an observer to the Organization of American States.