Intel Israel’s exports solely rose barely in 2021

Intel Israel right now revealed knowledge summarizing its operations in 2021, as a part of the corporate’s company duty report. Intel Israel’s exports rose to $8.1 billion final yr, barely above $8 billion in 2020. The Kiryat Gat plant was liable for 70% of Intel’s exports whereas the event facilities had been liable for the opposite 30%.

Whereas $8.1 billion is a brand new document, it solely represented an increase of simply over 1%, whereas Intel’s exports from Israel rose 21% in 2020 and 70% in 2019. Intel attributes the small rise in exports to the truth that the brand new plant in Kiryat Gat (Fab 28) is now working at full capability and there aren’t any choices for rising manufacturing. Intel is constructing a brand new plant within the metropolis (Fab 38) at a price of $10 billion.

Intel’s exports represented 11% of Israel’s total exports in 2021 in contrast with 14% of the nation’s total exports in 2020. This fall displays the document yr that Israel’s tech exports loved, in order that Israel’s dependence on Intel because the nation’s largest employer was barely lowered.

Intel’s workforce didn’t considerably rise final yr. The corporate has 14,000 staff in Israel together with 2,000 at Mobileye. Nonetheless, when the completion of the acquisition of Tower Semiconductor is accomplished, Intel Israel can have one other 1,000 staff. Intel additionally purchased two Israeli startups final yr – Granulate for $650 million and Screenovate for $100 million.

In response to Intel, the corporate bought items for $2.2 billion in Israel in 2021 as a part of its reciprocal procurement commitments, up 25% from its procurements in 2020. The rationale for the rise was building work on the brand new Kiryat Gat fab.

Printed by Globes, Israel enterprise information – en.globes.co.il – on July 6, 2022.

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