With its estimated 8.5 million inhabitants and a GDP of approximately 370 billion USD, Israel is one of the most prosperous states in the Middle East and is one of the most important trading partners in this region for the western countries. Israel is the only democracy with a working rule of law and welfare system in this region.
Since its founding as a state in 1948, Israel has made huge improvements from being an agrarian economy with socialist policies to a market-oriented, diversified and industrialized high-tech country. Israel’s export-orientated economy is global. The most important trading partners are the USA, Europe and China, especially the exchange with Germany is steadily increasing. In the area of the conurbations Tel Aviv, Haifa and Jerusalem, modern service and high-tech centers with famous and global companies emerged. In contrast, the regions in the north and south of the country are characterized by high-performance agriculture and smaller industrial companies.