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.
Basic Information
Government Type: Parliamentary democracy
Capital City: Jerusalem; note – the US recognized Jerusalem as Israel’s capital in December 2017 without taking a position on the specific boundaries of Israeli sovereignty
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank | Jerusalem; note – the US recognized Jerusalem as Israel’s capital in December 2017 without taking a position on the specific boundaries of Israeli sovereignty |
|---|---|
| Currency |
New Israeli shekels (ILS) |
| 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) |
GDP Data
| Real GDP growth |
2007 6% 2008 3.2% 2009 1.3% 2010 5.5% 2011 5.2% 2012 2.2% 2013 4.3% 2014 3.9% 2015 2.6% 2016 4% 2017* 3.5% 2018* 3.3% |
|---|---|
| GDP per capita – current prices |
USD 41,644.1 (2018, estimate) |
| GDP per capita – PPP |
Intl$ 37,972.0 (2018, estimate) |
| GDP (PPP) – share of world total |
1980 0.21% 1990 0.22% 2000 0.26% 2010 0.25% 2019* 0.25% *Estimate |
| GDP – composition by sector |
agriculture: 1.2% industry: 19.3% services: 69.4% |
| Gross domestic expenditure on R&D; (% of GDP) |
4.5% (2017) OECD, data retrieved October 2019 |
| Inflation |
2015 -0.6% 2016 -0.5% 2017 0.2% 2018* 0.8% 2019* 1% *Estimate |
Israel
Economics, Policy & Regulation
A Strong Performance: Q&A with Amir Yaron, Central Bank Governor…
Non-Economic Data
Most Technologically Advanced Countries In The World 2023Inflation & Debt
| Inflation |
2015 -0.6% 2016 -0.5% 2017 0.2% 2018* 0.8% 2019* 1% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: AA- Moody’s: A1 Standard & Poor’s / Moody’s |
| Unemployment rate |
2015 5.3% 2016 4.8% 2017* 4.2% 2018* 4% 2019* 4% |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) |
2017 71.9% 2018 69.5% 2019 67.8% 2020* 77.6% 2021* 81.5% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2015 63.9% 2016 62.1% 2017* 60.4% 2018* 60.8% 2019* 61.9% *Estimate |
| Market value of publicly traded shares |
2016 USD 214 billion 2017 USD 231.0 billion 2018 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 |
Import/Export
| Exports as percent of GDP (Exports of goods and services) |
29.2% (2017) |
|---|---|
| Shares in world total merchandising export |
0.004% (2018) |
| Shares in world total commercial services export |
0.008% (2018) |
| Total exports |
USD 1.6 billion (2018 estimate) |
| Export commodities |
Opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems, and medical herbs |
| Total imports |
USD 8.3 billion (2018 estimate) |
| Import commodities |
Machinery and other capital goods, food, textiles, petroleum products |
| Exports – major partners |
India 56.5%, Pakistan 29.6% (2017) |
| Imports – major partners |
China 21%, Iran 20.5%, Pakistan 11.8%, Kazakhstan 11%, Uzbekistan 6.8%, Malaysia 5.3%(2017) |
Competitiveness & Trade
| Current account balance |
USD 10.1 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP |
2.7% (2018 estimate) |
| FDI inflows |
2016 USD 11,988 million 2017 USD 18,169 million 2018 USD 21,803 million |
| FDI Outflows |
2016 USD 14,579 million 2017 USD 6,153 million 2018 USD 6,008 million |
| Value of cross-border M&A, by country of purchaser |
2015 USD 3,685 million 2016 USD 41,737 million 2017 USD -1,774 million 2018 USD 892 million United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
| 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 |
| 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) |
Population & Geographic Data
| Total Area |
20,770 sq km |
|---|---|
| Total Population |
1990 4.66 million 2000 6.29 million 2010 7.62 million 2015* 8.38 million 2020* 9.23 million *Estimate |
| Urban population as % of total population |
1960 76.8% 1980 88.6% 2000 91.2% 2015 92.4% |
| Population median age |
30.1 years CIA World Factbook / Population median age |
| Population growth rate |
1.49% (2018 estimate) |
| Life expectancy |
82.7 years (2018 estimate) CIA World Factbook / Life expectancy |
| % of population living on less than $3.10 a day |
0.7% (last available estimate, 2016) |
| Inequality of wealth distribution (Gini index) |
distribution (Gini index) 38.9 (last available estimate, 2016) (0=perfect equality, 100=absolute inequality) |
| Freedom House rating |
Free Political Rights: 2 Civil Liberties: 3 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 38.2% Mobile: 127.7% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population |
81.58 % (2017) |
Language & Religon
| Languages | Hebrew (official), Arabic (used officially for Arab minority), English (most commonly used foreign language) |
|---|---|
| Literacy |
Total population: 38.2% Male: 52% Female: 24.2% Definition: age 15 and over can read and write (2015 est.) (age 15 and over can read and write) |
| Religions |
Total population: 97.8% Male: 98.7% Female: 96.8% Definition: age 15 and over can read and write (2011 est.) |
World Rankings
| Population | 2.8 M |
|---|---|
| Mercer Cost of living index | N/A |
| C02 Emissions per capita |
1.9 metric tons per capita (2018) |
Global Finance Rankings & Awards: Israel
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000