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.