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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.40 1.2 0.9 1.1 1 1.2 percent
Unemployment Rate 4.00 3.9 3.6 3.7 3.6 3.4 percent
Inflation Rate 1.20 1.4 1.3 1.5 1.7 2.1 percent
Interest Rate 0.10 0.1 0.25 0.25 0.25 0.25 percent
Balance of Trade -1806.90 -1227 -1484 -2455 -2351 -1590 USD Million
Government Debt to GDP 60.90 64.2 64 64 64 65 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 3.66
3.66 3.68 3.7 3.72 3.79
Stock Market 1460.68
points
1472 1460 1448 1436 1389
Government Bond 10Y 2.37
percent
2.03 2.07 2.11 2.14 2.3
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.40
percent
1.2 0.9 1.1 1 1.2
GDP Annual Growth Rate 4.00
percent
3.5 3.3 3.2 3.5 3.4
GDP Growth Annualized 1.80
percent
3.4 3.3 3.93 3.83 3.6
GDP 350.85
USD Billion
363 386 386 386 392
GDP Constant Prices 324584.20
ILS Million
330430 333673 334971 335945 354307
Gross National Product 324111.80
ILS Million
331792 326589 334483 335456 355767
Gross Fixed Capital Formation 65578.40
ILS Million
67195 67676 66466 66659 72051
GDP per capita 34134.81
USD
34737 35023 35023 35023 35304
GDP per capita PPP 33132.32
USD
33300 33900 33900 33900 34000
GDP From Agriculture 3842.90
ILS Million
3954 3970 3966 3977 4239
GDP From Construction 14814.80
ILS Million
16836 15304 15289 15333 18053
GDP From Manufacturing 38385.70
ILS Million
38393 39652 39614 39729 41167
GDP From Public Administration 46683.80
ILS Million
46899 48590 48178 48318 50288
GDP From Services 33050.40
ILS Million
33867 34141 34108 34207 36314
GDP From Transport 9216.40
ILS Million
9956 9521 9511 9539 10675
GDP From Utilities 6159.20
ILS Million
4610 6362 6356 6375 4943
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 4.00
percent
3.9 3.6 3.7 3.6 3.4
Employed Persons 3902.34
Thousand
3952 3976 4000 4024 4239
Unemployed Persons 155.97
Thousand
162 150 156 158 157
Job Vacancies 105986.00
106687 106735 106731 106730 106730
Wages 10542.90
ILS/Month
105000 108000 10722 10782 113000
Wages in Manufacturing 118.50
Index Points
119 128 116 116 128
Minimum Wages 5300.00
ILS/Month
5300 5500 5500 5500 5700
Population 8.81
Million
9 9.02 9.06 9.1 9.2
Retirement Age Women 63.33
63.33 63.33 63.33 63.33 64
Retirement Age Men 68.33
68.33 68.33 68.33 68.33 69
Labor Force Participation Rate 64.00
percent
63.97 63.97 63.97 63.97 63.97
Employment Rate 61.60
percent
61.2 61.57 61.57 61.57 61.4
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.20
percent
1.4 1.3 1.5 1.7 2.1
Consumer Price Index CPI 101.50
Index Points
102 102 103 103 106
Core Consumer Prices 101.00
Index Points
101 101 102 102 103
Core Inflation Rate 0.90
percent
0.89 0.9 0.9 0.9 0.9
GDP Deflator 101.73
Index Points
101 101 102 102 102
Producer Prices 95.00
Index Points
91.52 91.54 91.54 91.54 91.52
Export Prices 111.90
Index Points
108 111 111 112 109
Import Prices 103.00
Index Points
103 103 103 103 103
Inflation Expectations 1.30
percent
1.5 1.5 1.6 1.4 1.7
Inflation Rate Mom 0.10
percent
0.3 0.1 0.4 0.05 0.4
Food Inflation 1.70
percent
1.5 1.7 1.4 1.2 2.6
CPI Housing Utilities 104.90
Index Points
105 104 105 107 108
CPI Transportation 101.80
Index Points
101 102 103 104 104
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 0.10
percent
0.1 0.25 0.25 0.25 0.25
Interbank Rate 0.12
percent
0.12 0.27 0.27 0.27 0.27
Money Supply M1 400564.00
ILS Million
415388 425797 435545 444701 505996
Money Supply M2 832035.70
ILS Million
851878 863810 875635 887357 988506
Money Supply M3 1087438.87
ILS Million
1085984 1082355 1085030 1081773 1084426
Foreign Exchange Reserves 115459.00
USD Million
109056 109002 108945 119137 108218
Banks Balance Sheet 1546071.00
NIS Million
1561932 1568332 1573961 1578913 1603670
Deposit Interest Rate 0.52
percent
0.52 0.67 0.67 0.67 0.67
Private Debt to GDP 123.66
percent
127 128 128 129 133
Central Bank Balance Sheet 424834.00
NIS Million
426942 426833 426796 426785 426782
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -1806.90
USD Million
-1227 -1484 -2455 -2351 -1590
Exports 3277.70
USD Million
4634 4429 3649 3920 4362
Imports 5084.60
USD Million
5861 5913 6104 6271 5951
Current Account 795.00
USD Million
1746 1728 1701 2169 1650
Current Account to GDP 4.10
percent
2.2 2.5 2.5 2.5 3
External Debt 93283.70
USD Million
94255 94517 94506 94759 94754
Terms of Trade 108.64
Index Points
105 108 108 108 106
Capital Flows -1194.40
USD Million
672 -366 -296 451 86.44
Foreign Direct Investment 36924.80
USD Million
20400 33168 33098 32614 22100
Remittances 1236.80
USD Million
1272 1299 1282 1275 1278
Tourist Arrivals 281.70
Thousand
358 384 350 300 380
Weapons Sales 1263.00
USD Million
1069 995 920 846 679
Terrorism Index 5.06
5.06 5.06 5.06 5.06 5.06
Crude Oil Production 0.39
BBL/D/1K
0.39 0.39 0.39 0.39 0.39
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 60.90
percent
64.2 64 64 64 65
Government Budget -2.15
percent of GDP
-2.9 -2.5 -2.5 -2.5 -2.6
Government Budget Value -8412.00
ILS Million
-4253 -4168 -4038 -4008 -3989
Government Spending 72803.90
ILS Million
74259 76271 75192 75410 79625
Government Revenues 24321.00
ILS Million
27251 27274 27296 27290 27290
Fiscal Expenditure 32645.00
ILS Million
31761 31442 31334 31298 31279
Military Expenditure 15500.80
USD Million
13810 13941 14073 14204 13864
Government Spending To Gdp 39.55
percent
39.55 39.55 39.55 39.55 39.55
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 23.40
Index Points
23.1 22.8 21.5 23.61 22.3
Industrial Production 7.80
percent
2.3 4.6 2.7 4.28 4.5
Industrial Production Mom 2.70
percent
1.9 0.3 1.4 0.31 1.6
Changes in Inventories 2658.40
ILS Million
1350 1138 1211 1074 1089
Leading Economic Index 0.36
percent
0.3 0.3 0.4 0.35 0.3
Internet Speed 13669.17
KBps
14696 14865 15039 15076 15776
IP Addresses 2363587.00
IP
2350805 2351139 2350844 2350909 2350912
Mining Production 6.40
percent
13.56 11.95 12.72 12.27 12.44
Manufacturing Pmi 50.00
54.2 53.5 53.1 50.65 51
Manufacturing Production 7.10
percent
3.58 3.42 3.33 3.28 3.24
Ease of Doing Business 54.00
50 49 48 47 39
Competitiveness Index 76.63
Points
5.31 5.31 5.31 5.31 5.31
Competitiveness Rank 20.00
16 16 16 16 16
Corruption Index 62.00
Points
62 62 62 62 62
Corruption Rank 32.00
32 32 32 32 32
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence -8.30
Index Points
-8.2 -8.1 -7.8 -8.8 -7.6
Consumer Spending 180716.50
ILS Million
184277 188165 188231 188778 197592
Private Sector Credit 938465.00
ILS Million
947375 956022 964476 972883 1048431
Bank Lending Rate 3.49
percent
3.49 3.64 3.64 3.64 3.64
Retail Sales Mom -1.40
percent
-0.04 0.19 0.21 0.18 0.18
Retail Sales Yoy 2.10
percent
1.81 2.07 2.06 2.06 2.06
Economic Optimism Index 131.00
Index Points
124 136 138 139 131
Consumer Credit 531.47
ILS Billion
547 554 561 569 632
Households Debt To Gdp 41.80
percent of GDP
41.83 41.83 41.83 41.84 41.84
Gasoline Prices 1.82
USD/Liter
1.66 1.57 1.48 1.38 1.17
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Housing Index 410.90
Index points
415 415 416 416 416
Building Permits 2928.00
3830 3878 3872 3871 3871
Housing Starts 11228.00
units
11890 12089 12075 12016 11749
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 24.00
percent
24 24 24 24 24
Personal Income Tax Rate 50.00
percent
50 50 50 50 50
Sales Tax Rate 17.00
percent
17 17 17 17 17
Social Security Rate 19.50
percent
19.5 19.5 19.5 19.5 19.5
Social Security Rate For Companies 7.50
percent
7.5 7.5 7.5 7.5 7.5
Social Security Rate For Employees 12.00
percent
12 12 12 12 12
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Precipitation 39.70
mm
32.84 50.64 20.46 20.44 22.8
Temperature 12.19
celsius
17.52 12.72 26.12 23.88 20.11