Israel’s gross domestic product jumped 15.4 percent in the second quarter of 2021, above a 0.8 percent rise in the previous period. It was the strongest pace of expansion since at least 1996, mainly due to the low base effect of last year’s lockdown, underpinned by a rebound in private consumption (23.3 percent vs -1.6 percent in Q1) and a sharp rise in gross fixed capital formation (17.7 percent vs 2.7 percent). Additionally, Israel’s foreign trade also improved, with exports surging 23 percent (vs 7.3 percent), is spite of a faster increase of imports (27.6 percent vs 6.7 percent). Meanwhile, public spending eased (2.9 percent vs 5.5 percent). On a seasonally adjusted quarterly basis, the economy advanced 3.9 percent according to the second estimation, recovering from a 0.4 percent fall in the first quarter. source: Central Bureau of Statistics, Israel

GDP Annual Growth Rate in Israel averaged 3.56 percent from 1996 until 2021, reaching an all time high of 15.44 percent in the second quarter of 2021 and a record low of -8.50 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 2021.

GDP Annual Growth Rate in Israel is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Israel GDP Annual Growth Rate is projected to trend around 4.30 percent in 2022 and 3.20 percent in 2023, according to our econometric models.

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Israel GDP Annual Growth Rate


Israel Last Unit Reference Previous Highest Lowest
GDP Growth Rate 3.90 percent Jun/21 -0.40 8.80 -9.10
GDP Growth Annualized 16.60 percent Jun/21 -1.40 40.60 -32.10
GDP Annual Growth Rate 15.40 percent Jun/21 0.83 15.40 -8.38
GDP Constant Prices 359215.00 ILS Million Jun/21 332645.30 359215.00 138622.70
Gross National Product 381698.30 ILS Million Jun/21 343652.00 381698.30 69455.30
Gross Fixed Capital Formation 73570.60 ILS Million Jun/21 70656.70 73570.60 32668.00
GDP From Public Administration 49270.50 ILS Million Jun/21 45897.90 49270.50 27521.40
GDP From Utilities 4424.10 ILS Million Mar/21 4910.20 6950.50 2271.60
GDP From Transport 8834.10 ILS Million Mar/21 8953.60 11379.50 3557.10
GDP From Services 36064.80 ILS Million Mar/21 34218.90 37875.00 13345.00
GDP From Manufacturing 42173.20 ILS Million Mar/21 44206.70 44206.70 26232.80
GDP From Construction 18471.90 ILS Million Mar/21 19403.20 19746.00 8529.70
GDP From Agriculture 3393.00 ILS Million Mar/21 3722.60 4638.00 1779.40


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.