Israel - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Israel including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Israel economy.


Overview Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90 0.9 1.1 1 0.9 1.2 percent
Unemployment Rate 4.00 4.5 4.6 4 5 5.5 percent
Inflation Rate 0.10 0.6 0.8 1 1.5 2.2 percent
Interest Rate 0.10 0.1 0.1 0.1 0.25 1.25 percent
Balance of Trade -1131.20 -1183 -1214 -1095 -1041 -705 USD Million
Government Debt to GDP 61.90 64.2 64.2 64.2 64.2 65 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 3.49
3.45 3.49 3.54 3.59 3.78
Stock Market 1362.09
points
1371 1343 1316 1289 1092
Government Bond 10Y 1.87
percent
1.85 1.94 2.04 2.15 2.63
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90
percent
0.9 1.1 1 0.9 1.2
GDP Annual Growth Rate 2.90
percent
3.5 3.8 3.5 3.9 4.1
GDP Growth Annualized 3.60
percent
4.15 3.94 3.9 3.2 3.6
GDP 318.74
USD Billion
321 323 325 327 327
GDP Constant Prices 316332.30
ILS Million
286400 287500 322197 297000 324500
Gross National Product 314127.20
ILS Million
315849 316378 316667 316974 314228
Gross Fixed Capital Formation 62928.10
ILS Million
63090 62887 62592 62441 59886
GDP per capita 33783.00
USD
33511 33703 33895 34087 34382
GDP per capita PPP 32612.70
USD
32315 32504 32692 32881 32912
GDP From Agriculture 3730.30
ILS Million
3327 3530 3338 3440 3470
GDP From Construction 15787.50
ILS Million
15572 15538 15495 15456 15011
GDP From Manufacturing 34886.50
ILS Million
34265 34185 34092 33990 33003
GDP From Public Administration 44030.30
ILS Million
43400 43835 43693 43352 43167
GDP From Services 31756.00
ILS Million
31710 31469 31467 31326 30259
GDP From Transport 9120.80
ILS Million
9076 9076 9316 9407 9136
GDP From Utilities 6914.70
ILS Million
6362 5926 6317 5653 5046
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 4.00
percent
4.5 4.6 4 5 5.5
Employed Persons 3846.56
Thousand
3856 3863 3868 3870 3851
Unemployed Persons 170.03
Thousand
171 173 174 175 185
Job Vacancies 103337.00
99990 98496 97034 95517 83085
Wages 10176.70
ILS/Month
10169 10167 10164 10161 10128
Wages in Manufacturing 107.90
Index Points
109 110 110 110 110
Minimum Wages 5300.00
ILS/Month
5300 5300 5300 5300 5700
Population 8.63
Million
9 9 8.88 9 9.2
Retirement Age Women 63.00
63 63 63 63.33 64
Retirement Age Men 68.00
68.33 68.33 68 68.33 69
Labor Force Participation Rate 64.10
percent
63.96 63.94 63.91 63.89 63.78
Employment Rate 61.50
percent
61.21 61.27 61.22 61.2 61.4
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 0.10
percent
0.6 0.8 1 1.5 2.2
Consumer Price Index CPI 99.90
Index Points
99.43 99.03 98.82 98.7 98.24
Core Consumer Prices 99.70
Index Points
99.49 99.38 99.31 99.25 98.54
Core Inflation Rate 0.10
percent
0.3 0.4 0.49 0.57 1.2
GDP Deflator 100.24
Index Points
100 99.9 99.7 99.56 98.13
Producer Prices 92.10
Index Points
92.07 91.99 91.93 91.86 91.06
Export Prices 106.00
Index Points
105 105 105 108 109
Import Prices 94.40
Index Points
93.98 93.79 93.6 93.41 91.5
Food Inflation -0.50
percent
1.5 1.9 2.4 2.5 3.6
CPI Housing Utilities 102.50
Index Points
102 102 102 101 101
CPI Transportation 99.50
Index Points
99.69 99.72 99.68 99.62 98.88
Inflation Expectations 0.70
percent
0.79 0.89 1.03 1.16 2.25
Inflation Rate Mom -0.50
percent
0.3 0.3 0.3 0.3 0.4
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 0.10
percent
0.1 0.1 0.1 0.25 1.25
Interbank Rate 0.10
percent
0.11 0.22 0.35 0.5 2.01
Money Supply M1 368680.00
ILS Million
375790 382699 387899 391677 395169
Money Supply M2 808194.30
ILS Million
810148 812030 813350 814116 809635
Money Supply M3 1060855.00
ILS Million
1057742 1056234 1055122 1054212 1045823
Foreign Exchange Reserves 117615.00
USD Million
119581 122891 124550 125340 123743
Banks Balance Sheet 1508856.00
NIS Million
1506063 1503215 1500216 1497197 1463464
Deposit Interest Rate 0.53
percent
18.36 18.48 18.6 18.72 -13.28
Private Debt to GDP 124.23
percent
124 124 125 125 135
Central Bank Balance Sheet 401087.00
NIS Million
397504 396274 395115 393988 381161
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -1131.20
USD Million
-1183 -1214 -1095 -1041 -705
Exports 4853.80
USD Million
4748 4665 4669 4647 4462
Imports 5985.00
USD Million
6135 6065 6040 6022 5804
Current Account 2160.00
USD Million
2268 2223 2115 2099 1544
Current Account to GDP 3.60
percent
3.8 3.8 3.8 3.8 3.3
External Debt 94508.60
USD Million
96160 96508 96687 96751 95500
Terms of Trade 112.29
Index Points
111 111 110 110 106
Capital Flows 594.70
USD Million
-921 -6073 -753 -2468 199
Foreign Direct Investment 14820.50
USD Million
12582 11717 11845 20400 22100
Remittances 1287.40
USD Million
1245 1245 1245 1242 1215
Tourist Arrivals 256.60
Thousand
300 300 300 300 200
Terrorism Index 5.06
5.5 5.64 5.78 5.93 5.4
Weapons Sales 1260.00
USD Million
747 855 962 1069 773
Crude Oil Production 0.40
BBL/D/1K
0.37 0.36 0.36 0.35 0.3
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 61.90
percent
64.2 64.2 64.2 64.2 65
Government Budget -2.15
percent of GDP
-2.88 -2.93 -2.99 -2.9 -2.6
Government Budget Value -21500.00
ILS Million
-2517 -2829 -1785 -2017 -1982
Government Spending 70977.10
ILS Million
70956 71099 71252 71240 70764
Government Revenues 23276.00
ILS Million
26564 27360 27577 27347 26363
Fiscal Expenditure 44759.00
ILS Million
37657 35780 34449 33772 32296
Military Expenditure 17799.50
USD Million
16408 16611 16814 17018 16024
Government Spending To Gdp 39.66
percent
40.9 40.49 40.08 39.67 41.56
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Business Confidence 21.10
Index Points
19.42 16.92 15.05 17.7 20.4
Industrial Production 1.40
percent
4.02 4.07 3.87 3.73 3.52
Industrial Production Mom -1.10
percent
0.36 0.32 0.31 0.5 0.7
Changes in Inventories 5116.80
ILS Million
672 1189 1052 1270 1038
Leading Economic Index 0.28
percent
0.29 0.3 0.3 0.1 0.2
Internet Speed 13669.17
KBps
12684 12838 12657 12179 10015
IP Addresses 2363587.00
IP
2303210 2295583 2286344 2277474 2203083
Mining Production 17.00
percent
14.83 16.69 17.22 17.39 17.51
Manufacturing Pmi 53.50
52.62 51.88 51.42 51.14 50.71
Manufacturing Production 0.90
percent
3.97 3.68 3.48 3.39 3.31
Ease of Doing Business 54.00
53 52 51 50 39
Competitiveness Index 5.31
Points
5.26 5.26 5.26 5.26 4.82
Competitiveness Rank 16.00
20 20 20 20 20
Corruption Index 64.00
Points
62 63 64 65 64
Corruption Rank 28.00
29 28 27 26 23
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence -10.00
Index Points
-11.36 -12.17 -13.18 -13 -15
Consumer Spending 176756.20
ILS Million
177980 178986 179534 180077 180280
Private Sector Credit 901770.00
ILS Million
902299 901927 901525 901145 896811
Bank Lending Rate 3.50
percent
16.02 23.54 29.8 35.23 61.74
Retail Sales Mom -0.40
percent
0.6 0.46 0.38 0.38 0.38
Retail Sales Yoy 2.20
percent
4.22 4.32 4.37 4.41 4.51
Economic Optimism Index 126.20
Index Points
128 129 131 124 131
Consumer Credit 515.45
ILS Billion
522 526 528 529 524
Gasoline Prices 1.81
USD/Liter
1.83 1.82 1.82 1.81 1.74
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Housing Index 411.00
Index points
407 405 403 402 396
Building Permits 4190.00
4893 4658 4554 4449 3761
Housing Starts 10796.00
10709 10759 10832 10880 11012
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 24.00
percent
23 23 23 23 25
Personal Income Tax Rate 50.00
percent
50 50 50 50 49
Sales Tax Rate 17.00
percent
17 17 17 17 17
Social Security Rate 19.50
percent
19 19 19 19 18
Social Security Rate For Companies 7.50
percent
7.53 7.53 7.53 7.53 6.47
Social Security Rate For Employees 12.00
percent
11.88 11.88 11.88 11.88 11.68
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Precipitation 39.70
mm
50.54 5.51 0.34 32.84 22.8
Temperature 12.19
celsius
12.69 21.94 26.56 17.52 20.11