The economy of Israel advanced an annualized 6.4 percent on quarter in the last three months of 2020, compared with a preliminary reading of 6.3 percent and following an upwardly revised 41.7 percent surge in the previous period. Private consumption eased to 17.5 percent (vs 41.9 percent Q3), while net trade weighed down on GDP, as exports fell 4.3 percent (vs 68.0 percent) and imports surged 86 percent (vs -1.1 percent). On the other hand, fixed investment surged 62.6 percent (vs 17.4 percent), and public spending growth jumped to 25.5 percent (vs 8.3 percent). Considering full 2020, the economy contracted 2.5 percent due to the coronavirus pandemic, following a 3.4 percent growth in 2019. For 2021, the Bank of Israel projects a 6.3 percent growth, assuming the rapid inoculation continues, while Israel's Ministry of Finance sees the economy expanding by 4.6 percent. source: Central Bureau of Statistics, Israel
GDP Growth Annualized in Israel averaged 3.78 percent from 1995 until 2020, reaching an all time high of 41.50 percent in the third quarter of 2020 and a record low of -29.90 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 April 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.