The economy of Israel shrank 8.2 percent on quarter in the second quarter of 2020, slightly more than the first estimate of an 8.1 percent fall. It is the biggest contraction ever, due to the coronavirus crisis.

GDP Growth Rate in Israel averaged 0.88 percent from 1980 until 2020, reaching an all time high of 4.30 percent in the second quarter of 1984 and a record low of -8.20 percent in the second quarter of 2020. This page provides - Israel GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Israel GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

GDP Growth Rate in Israel is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Israel to stand at 0.60 in 12 months time. In the long-term, the Israel GDP Growth Rate is projected to trend around 1.20 percent in 2021, according to our econometric models.

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Israel GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-8.20 -1.80 4.30 -8.20 1980 - 2020 percent Quarterly
SA, 2010 prices


Calendar GMT Actual Previous Consensus TEForecast
2020-06-16 10:00 AM QoQ 2nd Est Q1 -1.7% 1.1% -1.8%
2020-07-16 10:00 AM QoQ 3rd Est Q1 -1.8% -1.7% -1.8%
2020-08-16 10:00 AM QoQ 1st Est Q2 -8.1% -1.7% -10.2%
2020-09-16 10:00 AM QoQ 2st Est Q2 -8.2% -1.8% -8.4%
2020-10-18 10:00 AM QoQ 3st Est Q2 -1.8% -8.2%
2020-11-16 11:00 AM QoQ 1st Est Q3 0.9%
2020-12-31 11:00 AM QoQ 2st Est Q3 0.9%

Israel GDP Last Previous Highest Lowest Unit
GDP Growth Rate -8.20 -1.80 4.30 -8.20 percent [+]
GDP Annual Growth Rate -7.90 0.50 10.60 -7.90 percent [+]
GDP Growth Annualized -29.00 -6.80 18.10 -29.00 percent [+]
GDP 395.10 370.59 395.10 2.51 USD Billion [+]
GDP Constant Prices 307406.00 334570.00 341092.60 136916.40 ILS Million [+]
Gross National Product 312603.80 349026.00 365153.30 69455.30 ILS Million [+]
Gross Fixed Capital Formation 62292.00 68492.00 70422.20 32226.60 ILS Million [+]
GDP per capita 35293.40 34749.70 35293.40 8789.00 USD [+]
GDP per capita PPP 40161.90 39543.20 40161.90 24488.50 USD [+]
GDP From Agriculture 3251.30 3581.60 4572.90 1761.60 ILS Million [+]
GDP From Construction 17762.90 19391.80 19658.00 8445.70 ILS Million [+]
GDP From Manufacturing 41173.50 39696.80 41173.50 26307.30 ILS Million [+]
GDP From Public Administration 42423.30 47589.00 48111.90 27570.70 ILS Million [+]
GDP From Services 35318.70 36675.20 37837.20 12186.20 ILS Million [+]
GDP From Transport 10378.70 11497.40 11497.40 3308.40 ILS Million [+]
GDP From Utilities 4176.80 4540.00 6946.60 2367.80 ILS Million [+]


Israel GDP Growth Rate
The main driver of Israeli economy is science and technology sector. As such, despite limited natural resources, its manufacturing and agriculture sectors are highly developed. .The biggest sector of the economy is services, accounting for nearly 80 percent of GDP. Within services, the most important are finance and business (28 percent of GDP); government (17 percent of GDP); housing (12 percent of GDP); trade, accommodation and restaurants (10 percent of GDP); and transport, storage and communications (8 percent of GDP). Manufacturing sector has been losing importance in recent years and now accounts for 14 percent of GDP.