The economy of Israel advanced an annualized 39.7% on quarter in the third quarter of 2020, compared with a second estimate of a 38.9% expansion and a record slump of 29.9% between April and June, final estimates showed. Private consumption advanced 42.3% (vs -44% in Q2) and fixed investment increased 17.2% (vs -34.1% in Q2). In addition, net external demand contributed positively to the GDP as exports jumped 59.7% (vs -28.6% in Q2) while imports fell 1.8% (vs -40.5% in Q2). Meanwhile, public spending growth eased to 8.4% from 16.8%. The central bank of Israel projects the GDP will plunge by as much as 3.7% this year but will grow by 6.3% in 2021, assuming the rapid inoculation continues. At the same time, Israel's Ministry of Finance sees the economy shrinking by 3.3%, before expanding by 4.6% in 2021. source: Central Bureau of Statistics, Israel
GDP Growth Annualized in Israel averaged 3.74 percent from 1995 until 2020, reaching an all time high of 39.70 percent in the third quarter of 2020 and a record low of -29.20 percent in the second quarter of 2020. This page provides the latest reported value for - Israel GDP Growth Annualized - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Israel GDP Growth Annualized - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
GDP Growth Annualized in Israel is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Annualized in Israel to stand at 3.20 in 12 months time. In the long-term, the Israel GDP Growth Annualized is projected to trend around 3.20 percent in 2022, according to our econometric models.