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Study: Israel's Exports to Gulf States Worth $1 Billion
(i24News) Jacob Atkins - Israel's exports to Gulf Arab states were worth nearly $1 billion in 2016, a new analysis of trade data suggests, despite their refusal to recognize Israel or have diplomatic relations with it. The Tony Blair Institute for Global Change said Tuesday its analysis of goods flows between third countries suggest the true amount of Israel's direct trade in recent years with Saudi Arabia and the UAE is "close to" $1 billion. The study said the current figure is only a tiny fraction of the trade's potential. The institute said the true value of current trade is hidden in export statistics of trade with third countries. These goods are then resold to the Gulf. The institute estimates that the level of trade is greater than Israel has with Egypt and Jordan combined, despite having peace treaties with both.