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Table of Contents 1 Main Indicators 2 Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More 9 Contact 2
Economic Figures Criteria 2014 2015 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 GDP (current prices in $B)* 306.1 295.1 78.0 73.6 71.1 73.7 75.1 Real GDP growth rate (% change) 2.6% 2.3% 1.1% 5.6% 2.3% 0.2% 2.0% GDP per capita (Current $) 37,272 35,231 9,479 8,889 8,552 8,823 8,941 GDP per capita growth rate (%, constant prices) 0.6% 0.3% -1.0% 3.3% 0.4% -1.6% -0.1% Exports (goods & services), $B 98.7 92.2 23.9 24.5 23.7 23.1 21.7 (As % of GDP) 32.3% 31.3% 30.6% 33.4% 33.3% 31.4% 29.0% Imports (goods & services), $B 93.7 83.2 24.5 22.7 21.0 20.6 20.9 (As % of GDP) 30.6% 28.2% 31.4% 30.9% 29.5% 28.0% 27.9% Unemployment rate 5.9% 5.2% 6.2% 5.6% 5.4% 5.1% 5.2% * Using a periodic average exchange rate. Source: CBS, IMF 3
Economic Figures Criteria 2008 2009 2010 2011 2012 2013 2014 2015 Public debt (As % of GDP) 72.9% 75.1% 70.9% 68.9% 67.9% 67.2% 66.7% 64.9% General government expenditure 41.4% 41.5% 40.4% 39.6% 40.1% 40.4% 40.1% 40.1% (As % of GDP) Current account surplus (As % of GDP) 1.4% 3.9% 3.5% 2.6% 1.6% 2.9% 3.7% * 4.2% Inflation rate (CPI, yearly change, %) 3.8% 3.9% 2.7% 2.2% 1.6% 1.8% -0.2% *-0.9% Budget deficit (Central) (As % of GDP) 2.1% 4.8% 3.4% 3.1% 3.9% 3.1% 2.7% 2.1% * Last available data Source: CBS, IMF 4
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
GDP and Business GDP Annual rate of change, constant prices, 2010
GDP Growth Israel compared to advanced economies, annual rate of change, constant prices Since 2004, Israel s GDP growth rate has exceeded the average growth rate of advanced economies. In 2009, while most economies experienced a decline in GDP as a result of the global economic crisis, Israel maintained a steady 1.9% growth.
GDP Components Real annual percentage change fects of the global economic crisis
GDP per Capita $ U.S, Current prices, Current PPP, 2014 (or latest available)
Output Gap As percentage of Potential GDP, 2014
Stock Exchange Indices rcentage Change, the change since the beginning of period until the end of period
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
Exports of Goods and Services As % of GDP Effects of the global economic crisis
Main Export of Goods Destinations As a share of total exports of goods
Main Trading Partners $ US Billions, 2014
Current Account Surplus As % of GDP
Foreign Investments $ US Billions
Exchange Rates
al effective exchange rate of the NIS January 1990 = 100
Terms of Trade 2005 average = 100
Israel s Free Trade Agreements USA 2013 Colombia* QIZ Agreements EFTA 2014 India** 1998 Jordan Turkey 2004 Egypt Canada Mexico European Union (Association Agreement)
Bilateral Investment Treaties Albania Argentina Armenia Azerbaijan Belarus Bulgaria China Cyprus Czech Republic El Salvador Estonia Ethiopia Georgia Germany Hungary* India Kazakhstan South Korea Latvia Lithuania Macedonia
Bilateral Investment Treaties Slovenia Uzbekistan Montenegro Myanmar* Poland Romania South Africa* Thailand Turkey Turkmenistan Serbia Slovakia Ukraine Uruguay
ic Alliance (observer) Economic Organizations Membership in main international economic organizations is a member of leading international economic organizations: d Nations Organizations d Nations Agencies d Bank Group national Monetary Fund nal Organizations -Governmental Organizations
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
Unemployment and Participation As % of total labor force
Unemployment Rate Aged 15 and over, S.A, latest available monthly data
Job Creation Change in the number of employees Effects of the global economic crisis
Employment Rate Aged 15 and over, S.A, 2015 Q3 or latest available quarterly data
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
General Government Expenditure As % of GDP
General Government Tax Burden As % of GDP
Central Budget Deficit As % of GDP
Public Debt As % of GDP Effects of the global economic crisis
Public Debt As % of GDP, international comparison
Croatia Greece Luxembourg Avoidance of Double Taxation Austria Denmark India Belarus Estonia Ireland Belgium Ethiopia Italy Brazil Finland Jamaica Bulgaria France Japan Canada Georgia Latvia China Germany Lithuania
Portugal Sweden Vietnam Avoidance of Double Taxation Mexico Russia Taiwan Moldova Singapore Thailand Netherlands Slovak Republic Turkey Norway Slovenia UK Panama South Africa Ukraine Philippines South Korea USA Poland Spain Uzbekistan
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
Inflation Rate Rate of change in Consumer Price Index
Interest Rate
Central Bank s Interest Rates International comparison, last available data
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
Industrial Production Average annual growth - 2015 average relative to 2005 average Total industrial production grew by 3.1%
Industrial Export rrent U.S. $ Billions, the share of high tech and mid high tech sectors in the Israeli goods exports 80.1% 79.5% 80.5% 81.0%.2% 72.5% 75.3% 75.4% 76.3% 76.6% 77.4% 80.9% 80.3%
Israel is a World Leader in Science, Technology and Innovation Global Innovation 2015 (R&D) IMD, Business expenditure on R&D, 2012 WEF, Capacity for innovation, 2013-2014
Israel in IMD Rankings IMD World Competitiveness Yearbook 2014 stitute for Management Development ranked Israel 24 th out of 60 ies for 2014. cyber security* r innovative capacity business expenditure on R&D (%) scientific research public expenditure on education r entrepreneurship of managers is widespread in business qualified engineers available in labor market r Nobel Prizes per capita in the fields of physics, istry, physiology, medicine and economics since 1950
Israel in WEF Rankings World Economic Forum Global Competitiveness Index 2013-2014 orld Economic Forum ranked Israel 27 th out of 148 countries for 2014- n terms of competitiveness. n Innovation n Quality of scientific research institutions n Firm-level technology absorption n Strength of investor protection n Company spending on R&D n Nature of competitive advantage n Venture Capital Availability Global Competitiveness Report 2014-2015 The country s main strengths remain its world-class capacity for innovation (3rd), which rests on innovative businesses that benefit from the presence of some of the world s best research institutions (3rd), support by the
Cooperation in Industrial R&D North America New York Massachusetts Maryland Virginia Wisconsin Colorado Illinois Oregon BIRD (Foundation) ario CIIRDF (Foundation) South America Argentina Uruguay Brazil Europe France Russia Italy (and Trento county) Germany Greece Czech Republic Bulgaria Lithuania Slovenia Denmark Hungary Turkey Portugal Finland Sweden Ireland Spain Cyprus Netherlands Asia China (Shanghai, Jiangsu, Shenzhen, Federal) India SIIRD-Singapore (Foundation) KORIL-RDF-Korea (Foundation) Australia (Victoria)
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
Learn More Visit the Israel Ministry of Finance English website for more information: About the Ministry Economic Overview of Israel Ministry of Finance publications and reports Other publications and reports on the Israeli economy Ministry press releases
Learn More o open: l Central Bureau of Statistics ank of Israel Ministry of Economy Ministry of Foreign Affairs Israel Government Portal
Table of Contents Main Indicators Real Economy 3 Foreign Trade and Balance of Payments 4 Labor Market 5 Fiscal Stance 6 Price Stability and Monetary Policy 7 Innovative Economy 8 Learn More
Contact Mr. Oded Keneresh, CPA Mr. Naor Porat Dr. Amichai Fishler Overseas Economic Information Chief Economist Department Ministry of Finance State of Israel Send us an email: odedk@mof.gov.il naorp@mof.gov.il amichai@mof.gov.il Follow us on Twitter Follow us on Linkedin Follow us on YouTube Visit our Website