The Gross Domestic Product (GDP) in Israel contracted 7.90 percent in the second quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Israel averaged 3.58 percent from 1996 until 2020, reaching an all time high of 10.60 percent in the third quarter of 2000 and a record low of -7.90 percent in the second quarter of 2020. This page provides the latest reported value for - Israel GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Israel GDP Annual Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Annual Growth Rate in Israel is expected to be -1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Israel to stand at 4.30 in 12 months time. In the long-term, the Israel GDP Annual Growth Rate is projected to trend around 4.30 percent in 2021 and 3.20 percent in 2022, according to our econometric models.

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Israel GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-7.90 0.50 10.60 -7.90 1996 - 2020 percent Quarterly

Israel GDP Last Previous Highest Lowest Unit
GDP Growth Rate -8.10 -1.80 4.30 -8.10 percent [+]
GDP Annual Growth Rate -7.90 0.50 10.60 -7.90 percent [+]
GDP Growth Annualized -28.80 -6.70 18.10 -28.80 percent [+]
GDP 395.10 370.59 395.10 2.51 USD Billion [+]
GDP Constant Prices 307067.10 334498.20 340471.50 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 3831.30 3236.30 4572.90 1761.60 ILS Million [+]
GDP From Construction 16520.90 17762.90 19658.00 8445.70 ILS Million [+]
GDP From Manufacturing 38654.10 41173.50 41173.50 26307.30 ILS Million [+]
GDP From Public Administration 42423.30 47589.00 48111.90 27570.70 ILS Million [+]
GDP From Services 31897.60 35318.70 37837.20 12186.20 ILS Million [+]
GDP From Transport 8752.20 10378.70 11497.40 3308.40 ILS Million [+]
GDP From Utilities 3304.00 4176.80 6946.60 2367.80 ILS Million [+]


Israel GDP Annual Growth Rate
Israel is the most technologically advanced and developed market economy in the Middle East. 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.