Israel Economic Statistics and Indicators
22, May 2015, EDT. Welcome to the Israel economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: Israel › Change country
National or Regional Currency: Shekel, ILS
Year of data: 2014 › Change year
Number of Indicators Listed: 41
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 7821850 ; note: approximately 341,400 Israeli settlers live in the West Bank (2012); approximately 18,900 Israeli settlers live in the Golan Heights (2012); approximately 196,400 Israeli settlers live in East Jerusalem (2011) (July 2014 est.)
Area: total: 20,770 sq km ; land: 20,330 sq km ; water: 440 sq km
Natural Resources: timber, potash, copper ore, natural gas, phosphate rock, magnesium bromide, clays, sand
Capital: name: Jerusalem: note - Israel proclaimed Jerusalem as its capital in 1950, but the US, like all other countries, maintains its embassy in Tel Aviv ; geographic coordinates: 31 46 N, 35 14 E ; time difference: UTC+2 (7 hours ahead of Washington, DC, during Standard Time) ; daylight saving time: +1hr, begins Friday before the last Sunday in March; ends the last Sunday in October
Israel has a technologically advanced market economy. Cut diamonds, high-technology equipment, and pharmaceuticals are among the leading exports. Its major imports include crude oil, grains, raw materials, and military equipment. Israel usually posts sizable trade deficits, which are covered by tourism and other service exports, as well as significant foreign investment inflows. Between 2004 and 2011, growth averaged nearly 5% per year, led by exports. The global financial crisis of 2008-09 spurred a brief recession in Israel, but the country entered the crisis with solid fundamentals, following years of prudent fiscal policy and a resilient banking sector. In 2010, Israel formally acceded to the OECD. Israel's economy also has weathered the Arab Spring because strong trade ties outside the Middle East have insulated the economy from spillover effects. The economy has recovered better than most advanced, comparably sized economies, but slowing demand domestically and internationally, and a strong shekel, have reduced forecasts for the next decade to the 3% level. Natural gas fields discovered off Israel's coast since 2009 have brightened Israel's energy security outlook. The Tamar and Leviathan fields were some of the world's largest offshore natural gas finds this past decade. The massive Leviathan field is not due to come online until 2018, but production from Tamar provided a one percentage point boost to Israel's GDP in 2013 and is expected to contribute 0.5% growth in 2014. In mid-2011, public protests arose around income inequality and rising housing and commodity prices. Israel's income inequality and poverty rates are among the highest of OECD countries and there is a broad perception among the public that a small number of "tycoons" have a cartel-like grip over the major parts of the economy. The government formed committees to address some of the grievances but has maintained that it will not engage in deficit spending to satisfy populist demands. In May 2013 the Israeli government, in a politically difficult process, passed an austerity budget to reign in the deficit and restore confidence in the government's fiscal position. Over the long term, Israel faces structural issues, including low labor participation rates for its fastest growing social segments - the ultra-orthodox and Arab-Israeli communities. Also, Israel's progressive, globally competitive, knowledge-based technology sector employs only 9% of the workforce, with the rest employed in manufacturing and services - sectors which face downward wage pressures from global competition.
More on the Israel Economy
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GDP (Constant Prices, National Currency) for Israel in year 2014 is ILS 988.678 Billion.
GDP (Current Prices, National Currency) for Israel in year 2014 is ILS 1,087.83 Billion.
GDP (Current Prices, US Dollars) for Israel in year 2014 is US$ 304.983 Billion.
GDP Deflator for Israel in year 2014 is 110.029 (Index, Base Year as per country's accounts = 100).
GDP Per Capita (Constant Prices, National Currency) for Israel in year 2014 is ILS 122,908.09 .
GDP Per Capita (Current Prices, National Currency) for Israel in year 2014 is ILS 135,234.60 .
GDP Per Capita (Current Prices, US Dollars) for Israel in year 2014 is US$ 37,914.14 .
GDP (PPP), US Dollars for Israel in year 2014 is US$ 268.283 Billion.
GDP Per Capita (PPP), US Dollars for Israel in year 2014 is US$ 33,351.77 .
Investment (% of GDP) for Israel in year 2014 is 19.519 %.
Inflation, Average Consumer Prices (Indexed to Year 2000) for Israel in year 2014 is 102.365 (Index, Base Year 2000 = 100).
Inflation, End of Year (Indexed to Year 2000) for Israel in year 2014 is 103.024 (Index, Base Year 2000 = 100).
Employment for Israel in year 2014 is 3.524 Million .
Population for Israel in year 2014 is 8.044 Million .
General government revenue (National Currency) for Israel in year 2014 is ILS 406.849 Billions.
General government total expenditure (National Currency) for Israel in year 2014 is ILS 438.397 Billions.
Total Government Net Lending/ Borrowing (National Currency) for Israel in year 2014 is ILS -31.547 Billions.
General Government Structural Balance (National Currency) for Israel in year 2014 is ILS -29.355 Billion.
Fiscal Year Gross Domestic Product, Current Prices for Israel in year 2014 is ILS 1,087.83 Billions.
Current Account Balance (US Dollars) for Israel in year 2014 is US$ 5.717 Billion.
|Number of Internet Users for Israel|
|Internet Penetration Rate for Israel|
|Number of Facebook Accounts for Israel|
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|Corruption Perceptions Index Rank and Score for Israel|
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International