Israel has achieved a high standard of living for most of its residents, substantial industrial exports, and world-class excellence in advanced technologies and science-based industry. The country’s economic policy aims at continued growth and further integration into world markets. The industrial growth has been especially rapid since 1990 in high-technology, science-based industries such as electronics, advanced computer and communications systems, software, and weapons, which command the largest share of overall manufacturing output. Other principal products include chemicals, plastics, metals, food, and medical and industrial equipment. Israel’s diamond-cutting and polishing industry, centred in Tel Aviv, is the largest in the world and is a significant source of foreign exchange. The great majority of industries are privately owned, with one exception being the government-run Israel Aircraft Industries, Ltd., a defense and civil aerospace manufacturer.

Through innovation, technological advancements, and a strong emphasis on research and development, Israel’s manufacturing sector is poised for further growth and success in a constantly changing world.