Israel Economic Forecast

Israel Economic Outlook

October 3, 2017

Revised data confirmed that the Israeli economy grew at a much higher rate in Q2 compared to the previous quarter, despite a slight downward revision to the initial estimate. The expansion was driven by solid growth in private consumption and fixed investment; exports, however, contracted sharply. Indicators for the third quarter show that the economy is continuing its solid performance: Unemployment fell in July, which bodes well for private consumption, while in August business confidence remained high and the State of the Economy index rose again. In early September, Benjamin Netanyahu’s cabinet approved a five-year USD 32.4 billion infrastructure plan. The plan is aimed at increasing productivity and the growth potential of the economy.

Israel Economy Data

20122013201420152016
Population (million)7.98.18.28.48.5
GDP per capita (USD)32,15636,11439,23536,82737,204
GDP (USD bn)254291322308318
Economic Growth (GDP, annual variation in %)2.44.43.22.64.0
Consumption (annual variation in %)3.13.74.14.05.4
Investment (annual variation in %)3.54.50.00.111.3
Industrial Production (annual variation in %)4.00.51.22.21.7
Unemployment Rate6.86.35.95.34.8
Fiscal Balance (% of GDP)-3.9-3.1-2.7-2.1-2.1
Public Debt (% of GDP)67.165.865.262.660.5
Inflation Rate (CPI, annual variation in %, eop)1.61.8-0.2-1.0-0.2
Inflation Rate (CPI, annual variation in %)1.71.50.5-0.6-0.5
Policy Interest Rate (%)1.751.000.250.110.11
Exchange Rate (vs USD)3.733.473.893.903.85
Exchange Rate (vs USD, aop)3.863.613.583.893.84
Current Account (% of GDP)0.63.43.74.93.9
Current Account Balance (USD bn)1.69.811.915.212.4
Trade Balance (USD billion)-9.0-7.1-6.7-3.3-7.4
Exports (USD billion)61.363.063.856.756.2
Imports (USD billion)70.370.170.560.063.5
Exports (annual variation in %)-5.72.81.2-11.8-0.9
Imports (annual variation in %)-3.0-0.30.5-15.25.9
International Reserves (USD)75.981.886.190.698.4
External Debt (% of GDP)11.134.829.827.927.6

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Israel Facts

ValueChangeDate
Bond Yield1.890.0 %Oct 11
Exchange Rate3.50-0.14 %Oct 13
Stock Market1,3200.57 %Oct 13

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Israel Economic Growth

October 3, 2017

Solid private consumption, supported by a tight labor market and accommodative monetary policy, and fixed investment are expected to drive growth this year and the next. A potential flare-up in the Israel-Palestine conflict and a tight housing market present risks to the downside. Met the why particular panelists expect growth of 3.3% in 2017. For 2018, the panel projects GDP growth will be 3.4%, down 0.1 percentage points from last month.

Israel Economic News

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