Israel's economy advanced by 6.3% in 2022, slowing from a downwardly revised 8.6% expansion in 2021, but slightly above the Bank of Israel and the Finance Ministry estimates of 6.3%. Policymakers expect economic growth in Israel to slow sharply to close to 3% in 2023, with central bank rate hikes curbing spending. source: Central Bureau of Statistics, Israel

Full Year GDP Growth in Israel averaged 3.96 percent from 1996 until 2022, reaching an all time high of 8.76 percent in 2000 and a record low of -1.86 percent in 2020. This page includes a chart with historical data for Israel Full Year GDP Growth. Israel Full Year GDP Growth - values, historical data and charts - was last updated on June of 2023.

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Israel Full Year GDP Growth

Related Last Previous Unit Reference
GDP Growth Rate 0.60 1.30 percent Mar 2023
GDP Growth Annualized 2.50 5.30 percent Mar 2023
GDP Annual Growth Rate 3.98 2.53 percent Mar 2023
GDP 488.53 413.27 USD Billion Dec 2021

Israel Full Year GDP Growth
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.
Actual Previous Highest Lowest Dates Unit Frequency
6.35 8.60 8.76 -1.86 1996 - 2022 percent Yearly
Constant 2010 Prices, NSA