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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.60 0.7 0.8 0.9 1.1 1.2 percent [+]
Unemployment Rate 4.10 4.8 4.7 4.5 4.6 5.5 percent [+]
Inflation Rate -0.10 0.9 1.3 1.5 1.2 2.2 percent [+]
Interest Rate 0.10 0.1 0.1 0.1 0.25 1.25 percent [+]
Balance of Trade -1844.20 -1297 -1649 -1385 -1703 -1702 USD Million [+]
Government Debt to GDP 61.90 64.5 64.5 64.2 64.2 65 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 3.53 3.53 3.5 3.46 3.43 3.03 [+]
Stock Market 1291.26 1280 1270 1260 1240 1100 points [+]
Government Bond 10Y 1.73 2.14 2.16 2.18 2.2 2.44 percent [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.60 0.7 0.8 0.9 1.1 1.2 percent [+]
GDP Annual Growth Rate 2.90 3.1 2.9 3.5 3.8 4.1 percent [+]
GDP Growth Annualized 2.40 2.8 3 3.95 3.92 3.6 percent [+]
GDP 318.74 324 325 324 323 337 USD Billion [+]
GDP Constant Prices 309413.90 280771 284412 286400 287500 324500 ILS Million [+]
Gross National Product 310905.90 317517 321791 323751 326621 357696 ILS Million [+]
Gross Fixed Capital Formation 63236.20 61801 61869 61919 61884 61920 ILS Million [+]
GDP per capita 33783.00 34044 34283 34337 34392 35049 USD [+]
GDP per capita PPP 32612.70 32859 33082 33135 33189 33810 USD [+]
GDP From Agriculture 3463.20 3158 3430 3290 3182 3470 ILS Million [+]
GDP From Construction 14547.90 15257 15591 15082 15465 16891 ILS Million [+]
GDP From Manufacturing 31377.00 31404 31309 31298 31305 31308 ILS Million [+]
GDP From Public Administration 44670.30 38330 40566 46202 42165 47623 ILS Million [+]
GDP From Services 25326.20 28589 28101 29472 29185 30390 ILS Million [+]
GDP From Transport 9726.40 9746 9735 9176 9473 9631 ILS Million [+]
GDP From Utilities 2633.30 3814 2781 3214 3055 3023 ILS Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 4.10 4.8 4.7 4.5 4.6 5.5 percent [+]
Employed Persons 3811.21 3838 3864 3889 3914 4162 Thousand [+]
Unemployed Persons 167.36 188 174 174 172 173 Thousand [+]
Job Vacancies 105915.00 50548 64074 64940 62227 58892 [+]
Wages 10144.60 10151 10149 10146 10143 10113 ILS/Month [+]
Wages in Manufacturing 111.70 111 111 111 111 110 Index Points [+]
Minimum Wages 5000.00 4899 4899 5092 5156 5300 ILS/Month [+]
Population 8.63 8.8 8.8 9 9 9.2 Million [+]
Retirement Age Women 63.00 63 63 63 63 64 [+]
Retirement Age Men 68.00 68 68 68.33 68.33 69 [+]
Labor Force Participation Rate 63.80 64.11 64.09 64.1 64.09 64.09 percent [+]
Employment Rate 61.30 61.6 61.1 61.55 61.51 61.4 percent [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate -0.10 0.9 1.3 1.5 1.2 2.2 percent [+]
Consumer Price Index CPI 100.20 99.87 99.85 99.85 99.84 99.77 Index Points [+]
Core Consumer Prices 100.10 99.26 99.18 99.06 99.14 99.13 Index Points [+]
Core Inflation Rate -0.40 -0.24 -0.46 -0.49 -0.49 -0.5 percent [+]
GDP Deflator 102.02 102 102 102 102 103 Index Points [+]
Producer Prices 90.80 89.85 89.83 89.83 89.83 89.83 Index Points [+]
Export Prices 106.20 105 107 105 105 109 Index Points [+]
Import Prices 92.20 93.9 93.53 93.3 93.27 93.24 Index Points [+]
Food Inflation 0.20 -1.64 -2.08 -2.17 -2.19 -2.18 percent [+]
CPI Housing Utilities 102.60 101 101 101 101 101 Index Points [+]
CPI Transportation 99.10 97.9 97.9 97.92 97.93 97.92 Index Points [+]
Inflation Expectations 0.10 0.12 0.43 0.56 0.72 1.84 percent [+]
Inflation Rate Mom 0.30 0.2 0.2 0.3 0.3 0.4 percent [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 0.10 0.1 0.1 0.1 0.25 1.25 percent [+]
Interbank Rate 0.10 0.11 0.18 0.31 0.46 1.82 percent [+]
Money Supply M1 354501.00 359481 370356 380223 389342 451283 ILS Million [+]
Money Supply M2 789848.00 806924 823454 839708 855801 1012402 ILS Million [+]
Money Supply M3 1056797.00 1069204 1082274 1085770 1092403 1098229 ILS Million [+]
Foreign Exchange Reserves 111020.00 111749 113292 114026 114319 112616 USD Million [+]
Banks Balance Sheet 1492296.00 1502527 1509356 1515353 1520605 1547759 NIS Million [+]
Deposit Interest Rate 0.53 0.44 -0.2 -0.1 -0.01 1.12 percent [+]
Private Debt to GDP 124.23 125 125 126 127 135 percent [+]
Central Bank Balance Sheet 389540.00 389917 390080 390112 390119 390120 NIS Million [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade -1844.20 -1297 -1649 -1385 -1703 -1702 USD Million [+]
Exports 4261.70 4280 3836 4216 3828 3833 USD Million [+]
Imports 6105.90 5594 5839 5645 5742 5712 USD Million [+]
Current Account 2349.40 2551 2760 2638 2657 2661 USD Million [+]
Current Account to GDP 3.60 4 4 3.8 3.8 3.3 percent [+]
External Debt 92656.60 89726 89576 89522 89491 89514 USD Million [+]
Terms of Trade 115.18 114 114 114 114 114 Index Points [+]
Capital Flows -42974.00 4552 4360 3779 3800 3692 USD Million [+]
Foreign Direct Investment 12614.40 10079 19400 10629 11336 22100 USD Million [+]
Remittances 1167.80 1303 1277 1293 1280 1284 USD Million [+]
Tourist Arrivals 253.77 300 300 300 200 200 Thousand [+]
Terrorism Index 5.25 5.66 5.68 5.8 5.92 6.18 [+]
Weapons Sales 1260.00 988 1084 1049 1013 584 USD Million [+]
Crude Oil Production 0.40 0.4 0.4 0.4 0.4 0.4 BBL/D/1K [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 61.90 64.5 64.5 64.2 64.2 65 percent [+]
Government Budget -2.15 -2.14 -2.7 -2.22 -2.24 -2.6 percent of GDP [+]
Government Budget Value 1089.00 -3181 -1782 -1876 -1876 -1924 ILS Million [+]
Government Spending 70023.00 70495 70956 71419 71892 76510 ILS Million [+]
Government Revenues 29083.00 26778 27575 27705 27481 26491 ILS Million [+]
Fiscal Expenditure 27854.00 28552 28320 28217 28122 26878 ILS Million [+]
Military Expenditure 17799.50 17298 17530 17516 17502 17724 USD Million [+]
Government Spending To Gdp 39.66 39.88 39.58 39.59 39.61 39.16 percent [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Business Confidence 23.30 16.5 15.9 21.7 18.8 20.4 [+]
Industrial Production 6.70 2.18 2.81 3.1 3.25 3.47 percent [+]
Industrial Production Mom -1.20 0.11 -0.1 0.31 0.31 0.7 percent [+]
Changes in Inventories 3430.70 840 1223 1002 1090 992 ILS Million [+]
Leading Economic Index 0.31 0.2 0.3 0.24 0.24 0.2 percent [+]
Manufacturing Pmi 58.40 53.97 53.67 53.69 53.69 53.69 [+]
Manufacturing Production 4.10 0.57 1.39 1.68 1.8 1.89 percent [+]
Mining Production 30.20 21.04 23.6 21.7 22.72 22.35 percent [+]
Ease of Doing Business 52.00 53 54 54 54 58 [+]
Competitiveness Index 5.18 5.08 5.08 5.26 5.32 4.97 Points [+]
Competitiveness Rank 24.00 26 26 23 22 22 [+]
Corruption Index 64.00 64 65 64 64 63 Points [+]
Corruption Rank 28.00 29 28 28 28 30 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Consumer Confidence -11.00 -8 -7.4 -14.2 -15.13 -15 [+]
Consumer Spending 172470.50 173959 175239 176496 177787 190682 ILS Million [+]
Private Sector Credit 885728.00 883207 888051 892676 897085 931107 ILS Million [+]
Bank Lending Rate 3.49 3.5 3.5 3.5 3.5 3.5 percent [+]
Retail Sales Mom 0.00 0.79 0.15 0.12 0.15 0.19 percent [+]
Retail Sales Yoy 0.90 1.38 0.72 0.6 0.59 0.61 percent [+]
Economic Optimism Index 124.10 125 121 129 130 131 Index Points [+]
Consumer Credit 504.33 509 516 524 531 602 ILS Billion [+]
Gasoline Prices 1.66 1.64 1.63 1.63 1.62 1.57 USD/Liter [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Housing Index 410.60 408 408 408 408 408 Index points [+]
Building Permits 4128.00 4279 4309 4302 4303 4303 [+]
Housing Starts 10029.00 11933 11896 11920 11959 12047 [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 25.00 23.83 23.14 22.35 21.57 16.13 percent [+]
Personal Income Tax Rate 50.00 48.73 48.42 47.92 47.41 45.71 percent [+]
Sales Tax Rate 17.00 16.55 16.29 16.13 15.96 15.56 percent [+]
Social Security Rate 19.50 19.37 19.51 19.6 19.69 21.12 percent [+]
Social Security Rate For Companies 7.50 7.3 7.46 7.46 7.46 6.79 percent [+]
Social Security Rate For Employees 12.00 12 12 12 12 12 percent [+]