GDP in Israel

Israel GDP | Economic News & Forecasts

Israel - GDP

Economic momentum ebbs in 2019 but stays solid

According to preliminary data published on 31 December, the economy expanded 3.3% in 2019, broadly in line with FocusEconomics’ panelists forecast of 3.2% growth but down from the 3.4% expansion observed in 2018. 2019’s reading also marked the third consecutive annual deceleration in economic growth, with the economy knocked by weaker external momentum and domestic political uncertainty.

Private consumption picked up pace somewhat (2019: +3.9% year-on-year; 2018: +3.7% year-on-year), supported by low unemployment, weak price pressures and solid wage gains. Public consumption was also up (2019: +4.1% yoy; 2018: +4.0% yoy), as the government maintained a loose fiscal stance, although fixed investment growth petered out (2019: +0.3% yoy; 2018: +4.8% yoy), likely impacted somewhat by domestic political gridlock.

On the external front, export growth slowed to 3.3% (2018: +5.6% yoy) amid slower global economic momentum and trade tensions, while growth in imports decelerated to 3.4% (2018: +6.4% yoy).

In 2020, panelists see growth broadly stable, buttressed by loose monetary policy and greater energy exports as production from the Leviathan gas field ramps up. However, ongoing political paralysis will hamper domestic policymaking.

FocusEconomics panelists project growth of 3.2% in 2020, which is unchanged from the prior month’s estimate, and 3.4% in 2021.

Israel - GDP Data

2014   2015   2016   2017   2018  
Economic Growth (GDP, annual variation in %)3.9  2.5  4.0  3.4  3.3  

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Israel GDP Chart

Israel GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Bureau of Statistics

Israel Facts

Value Change Date
Bond Yield0.98-1.69 %Jan 01
Exchange Rate3.46-0.37 %Dec 31

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