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.

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Israel GDP Growth Annualized

Actual Previous Highest Lowest Dates Unit Frequency
39.70 -29.90 39.70 -29.90 1995 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-10-18 10:00 AM GDP Growth Annualized 3rd Est Q2 -28.8% -6.7% -29%
2020-11-16 11:00 AM GDP Growth Annualized 1st Est Q3 37.9% -29.8% 24% 30%
2020-12-16 11:00 AM GDP Growth Annualized 2nd Est Q3 38.9% -29.2% 37.9%
2021-01-17 11:00 AM GDP Growth Annualized 3rd Est Q3 39.7% -29.9% 38.9%
2021-02-16 11:00 AM GDP Growth Annualized 1st Est Q4 39.7%
2021-03-10 11:00 AM GDP Growth Annualized 2nd Est Q4 39.7%
2021-04-19 10:00 AM GDP Growth Annualized 3rd Est Q4
2021-05-25 10:00 AM GDP Growth Annualized 1st Est Q1
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News Stream
Israel Q3 GDP Recovers More than Initially Thought
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.
2021-01-17
Israel Q3 GDP Growth Revised Higher
The economy of Israel grew an annualized 38.9 percent in the third quarter of 2020, compared with a preliminary reading of 37.9 percent and a record slump of 29.2 percent seen in the April-June period, a second estimate showed. Private consumption advanced 42.3 percent (vs -43.7 percent in Q2) and fixed investment increased 15.1 percent (vs -34.2 percent in Q2). In addition, net external demand contributed positively to the GDP as exports jumped 57.5 percent (vs -28.5 percent in Q2) and imports fell 1.8 percent (vs -40.4 percent in Q2). Meanwhile, public spending growth eased to 5.6 percent from 22.6 percent.
2020-12-16
Israel GDP Growth Beats Forecasts in Q3
The GDP in Israel expanded an annualized record rate of 37.9 percent in the three months to September of 2020, following a record 29.8 percent contraction in the previous period, as the economy tries to recover from the coronavirus crisis. Figures came well above a 24 percent surge markets were expecting. Consumer spending (42 percent vs -43.7 percent), exports (63.9 percent vs -28.5 percent) and investment (7.3 percent vs -34.9 percent) rose sharply, according to preliminary estimates. The central bank expects the economy to shrink 6.5 percent in 2020.
2020-11-16
Israel GDP Contracts at Record Pace in Q2
The economy of Israel shrank an annualized 28.8% on quarter in the Q2 of 2020, slightly less than a second estimate of a 29% decline and following a downwardly revised 6.7% fall in Q1. It is the biggest contraction ever, due to the Covid-19 pandemic and related containment measures. Private spending decreased slightly less than anticipated (-44% vs -44.3% in the second estimate) while fixed investment plunged as previously reported (-30.3%). On the other hand, government spending rebounded as earlier anticipated (26%). Regarding net external demand, exports fell slightly more than previously estimated (-27.9% vs -27.8% in the second estimate) while imports slipped as earlier reported (-39.5%). The central bank of Israel projects the GDP will plunge by as much as 7% this year, due to the impact of a double lockdown. The government reimposed a full-scale nationwide lockdown on 18 September due to a new spike in coronavirus cases.
2020-10-18

Israel GDP Growth Annualized
GDP Annualized Growth Rate shows the gdp growth that would be registered if the quarter-on-quarter rate of change were maintained for a full year.