A Strong Performance: Q&A with Amir Yaron, Central Bank Governor Of Israel
Amir Yaron, governor of the Bank of Israel, speaks to Global Finance about the solidarity of Israel’s banking system and the challenges of his first term.
Israel GDP and Economic Data
Includes Israel real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Israel economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Israel best banks and safest banks are also available.
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International Reserves
USD 115.3 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 369.8 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 337.2 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 6% | 3.2% | 1.3% | 5.5% | 5.2% | 2.2% | 4.3% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 3.9% | 2.6% | 4% | 3.5% | 3.3% |
*Estimate
GDP per capita - current prices
USD 41,644.1 (2018, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.21% | 0.22% | 0.26% | 0.25% | 0.25% |
*Estimate
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GDP - composition by sector
- agriculture: 1.2%
- industry: 19.3%
- services: 69.4%
(2017 estimate)
Gross domestic expenditure on R&D; (% of GDP)
4.5% (2017)
OECD, data retrieved October 2019
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -0.6% | -0.5% | 0.2% | 0.8% | 1% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 5.3% | 4.8% | 4.2% | 4% | 4% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017* | 2018* | 2019* |
| 63.9% | 62.1% | 60.4% | 60.8% | 61.9% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017* | 2018* | 2019* |
| -1% | -1.4% | -1% | -3.3% | -3.7% |
*Estimate
Government bond ratings
Standard & Poor's: AA-
Moody's: A1
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 214 billion | USD 231.0 billion | USD 187.5 billion |
Largest companies
Teva Pharmaceutical, Bank Leumi, Bank Hapoalim, Check Point Software, Israel Discount Bank, Mizrahi Tefahot Bank, Migdal Insurance, FIBI Holdings, Delek Group
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Current account balance by percentage of GDP
2.7% (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
29.2% (2017)
Shares in world total merchandising export
0.29% (2018)
Shares in world total commercial services export
0.87% (2018)
Export commodities
Machinery and equipment, software, cut diamonds, agricultural products, chemicals, textiles and apparel
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Import commodities
Raw materials, military equipment, investment goods, rough diamonds, fuels, grain, consumer goods
Exports - major partners
US 28.8%, UK 8.2%, Hong Kong 7%, China 5.4%, Belgium 4.5% (2017)
Imports - major partners
US 11.7%, China 9.5%, Switzerland 8%, Germany 6.8%, UK 6.2%, Belgium 5.9%, Netherlands 4.2%, Turkey 4.2%, Italy 4% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 11,988 million | USD 18,169 million | USD 21,803 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 14,579 million | USD 6,153 million | USD 6,008 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 3,685 million | USD 41,737 million | USD -1,774 million | USD 892 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
Teva Pharmaceutical Industries Ltd, Auspex Pharmaceuticals Inc, United States, USD 3.4 billion
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
35 out of 190 countries
Subcategories:
Starting a Business: 28 out of 190 countries
Dealing with Construction Permits: 35 out of 190 countries
Getting Electricity: 83 out of 190 countries
Registering Property: 75 out of 190 countries
Getting Credit: 48 out of 190 countries
Protecting Minority Investors: 18 out of 190 countries
Paying Taxes: 13 out of 190 countries
Trading across Borders: 67 out of 190 countries
Enforcing Contracts: 85 out of 190 countries
Resolving Insolvency: 29 out of 190 countries
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Global competitiveness ranking
20 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 27 / Score: 72.8 (Mostly free)
(100=totally free 0=totally repressed)
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Capital
Jerusalem; note - the US recognized Jerusalem as Israel’s capital in December 2017 without taking a position on the specific boundaries of Israeli sovereignty
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Languages
Hebrew (official), Arabic (used officially for Arab minority), English (most commonly used foreign language)
Religions
Jewish 74.7%, Muslim 17.7%, Christian 2%, Druze 1.6%, other 4% (2016 est.)
Total population
| 1990 | 2000 | 2010 | 2015* | 2020* |
| 4.66 million | 6.29 million | 7.62 million | 8.38 million | 9.23 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 76.8% | 88.6% | 91.2% | 92.4% |
Literacy
Total population: 97.8%
Male: 98.7%
Female: 96.8%
Definition: age 15 and over can read and write (2011 est.)
% of population living on less than $3.10 a day
0.7% (last available estimate, 2016)
Inequality of wealth distribution (Gini index)
38.9 (last available estimate, 2016)
(0=perfect equality, 100=absolute inequality)
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Freedom House rating
Free
Political Rights: 2
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)
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Total telephone subscribers as % of population
Fixed: 38.2% Mobile: 127.7% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)