Israel | Economic Forecasts | 2017-2020 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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.30 0.9 0.7 0.8 0.99 1.2 percent [+]
Unemployment Rate 4.40 4.8 4.8 5.1 4.52 5.5 percent [+]
Inflation Rate 0.70 0.6 0.7 0.9 0.33 2.2 percent [+]
Interest Rate 0.10 0.1 0.1 0.1 0.1 1.25 percent [+]
Balance of Trade -1569.60 -1168 -797 -1184 -822 -1186 USD Million [+]
Government Debt to GDP 61.90 64.5 64.5 64.5 61.18 65 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 3.58 3.67 3.7 3.81 3.78 4.36 [+]
Stock Market 1301.73 1240 1230 1190 1200 1000 points [+]
Government Bond 10Y 2.09 2.19 2.21 2.24 2.26 2.6 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.30 0.9 0.7 0.8 0.99 1.2 percent [+]
GDP Annual Growth Rate 4.80 3.4 3.1 2.9 3.66 4.1 percent [+]
GDP Growth Annualized 1.40 3.5 2.8 3 4 3.6 percent [+]
GDP 299.40 316 319 323 324 344 USD Billion [+]
GDP Constant Prices 308979.30 276300 280771 284412 286400 324500 ILS Million [+]
Gross National Product 310158.40 314035 319109 323534 326566 365052 ILS Million [+]
Gross Fixed Capital Formation 58599.70 60036 60536 60907 61211 62147 ILS Million [+]
GDP per capita 33117.90 33247 33269 33292 33370 33976 USD [+]
GDP per capita PPP 31969.54 32087 32114 32142 32211 32764 USD [+]
GDP From Agriculture 3463.20 3380 3158 3430 3290 3470 ILS Million [+]
GDP From Construction 14547.90 14504 15257 15591 15082 16891 ILS Million [+]
GDP From Manufacturing 31377.00 31277 31404 31309 31298 31308 ILS Million [+]
GDP From Public Administration 37168.80 38822 38032 38338 39568 41273 ILS Million [+]
GDP From Services 25326.20 27682 28589 28101 29472 30390 ILS Million [+]
GDP From Transport 9726.40 9447 9746 9735 9176 9631 ILS Million [+]
GDP From Utilities 2633.30 3100 3814 2781 3214 3023 ILS Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 4.40 4.8 4.8 5.1 4.52 5.5 percent [+]
Employed Persons 3789.36 3818 3844 3870 3895 4172 Thousand [+]
Unemployed Persons 165.91 160 181 170 170 167 Thousand [+]
Job Vacancies 97140.00 96056 95347 94964 94765 94556 [+]
Wages 10125.20 10119 10163 10219 10275 10891 ILS/Month [+]
Wages in Manufacturing 109.90 111 111 111 111 111 Index Points [+]
Minimum Wages 5000.00 4899 4899 4899 5156 5300 ILS/Month [+]
Population 8.63 8.52 8.56 8.6 8.6 9.17 Million [+]
Retirement Age Women 63.00 63 63 63 63 64 [+]
Retirement Age Men 68.00 68 68 68 68.33 69 [+]
Labor Force Participation Rate 64.00 63.96 63.95 63.95 63.95 63.95 percent [+]
Employment Rate 61.20 60.8 61.2 61.1 61.2 61.4 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.70 0.6 0.7 0.9 0.33 2.2 percent [+]
Consumer Price Index CPI 100.30 100 100 101 101 101 Index Points [+]
Core Consumer Prices 100.20 100 100 100 100 100 Index Points [+]
Core Inflation Rate 0.30 0.31 0.34 0.4 0.4 0.4 percent [+]
GDP Deflator 101.08 97.25 96.65 96.77 91.78 81.34 Index Points [+]
Producer Prices 91.20 90.99 91 90.99 91 91 Index Points [+]
Export Prices 101.70 107 102 107 101 109 Index Points [+]
Import Prices 90.20 89.59 89.58 89.74 89.7 89.7 Index Points [+]
Inflation Expectations 0.50 0.48 0.42 0.41 0.42 0.42 percent [+]
Inflation Rate Mom 0.20 0.08 0.14 0.1 0.11 0.11 percent [+]
Food Inflation 1.90 2.81 3.1 3.16 3.17 3.17 percent [+]
Cpi Transportation 98.60 97.85 97.63 97.66 97.68 97.68 Index Points [+]
Cpi Housing Utilities 101.20 101 101 101 101 101 Index Points [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.10 0.1 0.1 0.1 0.1 1.25 percent [+]
Interbank Rate 0.10 0.09 0.09 0.09 0.09 0.09 percent [+]
Money Supply M1 343190.00 349204 360216 370027 379059 443237 ILS Million [+]
Money Supply M2 769312.00 786117 801605 816775 831842 992991 ILS Million [+]
Money Supply M3 862057.00 963372 978671 993925 1009136 1173591 ILS Million [+]
Foreign Exchange Reserves 105139.00 106485 108660 110406 111984 127600 USD Million [+]
Banks Balance Sheet 1490639.00 1511074 1523675 1536260 1548844 1687262 NIS Million [+]
Deposit Interest Rate 0.50 1.2 1.82 2.45 2.75 2.09 percent [+]
Private Debt to GDP 124.23 124 125 125 126 135 percent [+]
Central Bank Balance Sheet 397817.00 401099 401164 401236 401219 401230 NIS Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -1569.60 -1168 -797 -1184 -822 -1186 USD Million [+]
Exports 3465.40 4069 4424 3989 4410 3993 USD Million [+]
Imports 5035.00 5372 5196 5336 5269 5288 USD Million [+]
Current Account 3257.00 2955 2684 3050 2988 2937 USD Million [+]
Current Account to GDP 4.30 4 4 4 3.8 3.3 percent [+]
External Debt 91079.80 90990 91007 91005 91012 91014 USD Million [+]
Terms of Trade 112.75 114 114 114 114 114 Index Points [+]
Capital Flows 3347.80 3888 3490 3549 3338 3277 USD Million [+]
Foreign Direct Investment 10647.10 18400 10562 19400 11154 22100 USD Million [+]
Remittances 1324.10 1292 1329 1301 1314 1310 USD Million [+]
Tourist Arrivals 349.20 281 292 286 288 288 Thousand [+]
Terrorism Index 5.25 5.65 5.66 5.68 5.8 6.18 [+]
Weapons Sales 1260.00 891 988 1084 1049 584 USD Million [+]
Crude Oil Production 0.39 0.39 0.39 0.39 0.39 0.39 BBL/D/1K [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 61.90 64.5 64.5 64.5 61.18 65 percent [+]
Government Budget -2.15 -2.7 -2.14 -2.7 -2.22 -2.6 percent of GDP [+]
Government Budget Value -457.00 -6257 152 -4405 1020 -3811 ILS Million [+]
Government Spending 60986.12 61752 62163 62575 62981 67384 ILS Million [+]
Government Revenues 27806.00 27413 27810 27727 27770 27761 ILS Million [+]
Fiscal Expenditure 28121.00 31703 30711 30387 30289 30252 ILS Million [+]
Military Expenditure 17511.90 17704 17771 17838 17805 17091 USD Million [+]
Government Spending To Gdp 39.66 40.18 39.88 39.58 39.59 39.16 percent [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 23.10 17 16.5 15.9 27.09 20.4 [+]
Industrial Production 1.20 2.52 3.01 3.22 3.32 3.47 percent [+]
Industrial Production Mom 1.60 3.9 0.28 -0.1 0.3 0.7 percent [+]
Changes in Inventories 1692.30 676 690 737 699 710 ILS Million [+]
Leading Economic Index 0.36 0.1 0.2 0.3 0.33 0.2 percent [+]
Manufacturing Pmi 52.00 53.64 53.52 53.55 53.54 53.54 [+]
Manufacturing Production -2.70 1.72 2.07 2.2 2.26 2.3 percent [+]
Mining Production 39.50 34.11 30.61 32.55 31.41 31.82 percent [+]
Ease of Doing Business 52.00 52 53 54 54 58 [+]
Corruption Index 64.00 63 64 65 64 63 Points [+]
Corruption Rank 28.00 30 29 28 28 30 [+]
Competitiveness Index 5.18 5.08 5.08 5.08 5.32 4.97 Points [+]
Competitiveness Rank 24.00 26 26 26 22 22 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence -12.30 -9.4 -8 -7.4 -13.02 -15 [+]
Consumer Spending 161249.49 163879 165185 166488 167791 182038 ILS Million [+]
Private Sector Credit 872464.00 875735 879864 883953 887849 919089 ILS Million [+]
Bank Lending Rate 3.53 3.53 3.53 3.53 3.53 3.53 percent [+]
Retail Sales Mom -0.70 0.1 0.36 0.25 0.2 0.21 percent [+]
Retail Sales Yoy -0.70 1.72 1.84 1.9 1.85 1.83 percent [+]
Economic Optimism Index 121.80 123 124 121 126 131 Index Points [+]
Consumer Credit 492.85 503 511 519 527 609 ILS Billion [+]
Gasoline Prices 1.65 1.64 1.64 1.64 1.64 1.64 USD/Liter [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Housing Index 402.20 405 409 412 415 447 Index points [+]
Building Permits 595.00 824 824 824 824 824 [+]
Housing Starts 12791.00 12336 12188 12100 12067 12145 [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 25.00 24.53 23.83 23.14 22.35 16.13 percent [+]
Personal Income Tax Rate 50.00 49.03 48.73 48.42 47.92 45.71 percent [+]
Sales Tax Rate 17.00 16.81 16.55 16.29 16.13 15.56 percent [+]
Social Security Rate 19.50 19.23 19.37 19.51 19.6 21.12 percent [+]
Social Security Rate For Companies 7.50 7.15 7.3 7.46 7.46 6.79 percent [+]
Social Security Rate For Employees 12.00 12 12 12 12 12 percent [+]