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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.20 1 0.9 0.9 0.9 1.2 percent
Unemployment Rate 3.90 3.7 3.6 3.6 3.4 3.4 percent
Inflation Rate 1.40 1.2 1.4 1.1 1.5 2.1 percent
Interest Rate 0.10 0.1 0.1 0.25 0.25 0.25 percent
Balance of Trade -3246.60 -1316 -1227 -1484 -2381 -1590 USD Million
Government Debt to GDP 60.90 64.2 64.2 64 64 65 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 3.68
3.71 3.76 3.81 3.87 4.09
Stock Market 1403.99
points
1336 1303 1271 1239 1121
Government Bond 10Y 2.00
percent
2.19 2.32 2.45 2.59 3.24
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.20
percent
1 0.9 0.9 0.9 1.2
GDP Annual Growth Rate 4.00
percent
3.4 3.5 3.2 4.1 3.6
GDP Growth Annualized 4.70
percent
3.4 3.4 3.3 3.79 3.6
GDP 350.85
USD Billion
363 363 386 386 392
GDP Constant Prices 320070.00
ILS Million
324031 327867 330312 333193 350540
Gross National Product 316155.70
ILS Million
324808 331792 326273 329118 354736
Gross Fixed Capital Formation 66953.00
ILS Million
66157 66168 69095 69698 70743
GDP per capita 34134.81
USD
34737 34737 35023 35023 35304
GDP per capita PPP 33132.32
USD
33300 33300 33900 33900 34000
GDP From Agriculture 3848.80
ILS Million
3642 3984 3972 4007 4259
GDP From Construction 16189.90
ILS Million
17135 16757 16708 16854 17915
GDP From Manufacturing 35801.40
ILS Million
36834 37054 36947 37269 39617
GDP From Public Administration 46894.30
ILS Million
45527 46617 48395 48817 49840
GDP From Services 32968.20
ILS Million
34629 34122 34023 34320 36482
GDP From Transport 9619.20
ILS Million
9896 9956 9927 10014 10644
GDP From Utilities 4454.40
ILS Million
6183 4610 4597 4637 4929
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 3.90
percent
3.7 3.6 3.6 3.4 3.4
Employed Persons 3902.34
Thousand
3930 3954 3979 4003 4244
Unemployed Persons 155.97
Thousand
156 158 148 151 153
Job Vacancies 105005.00
104836 104752 104749 104750 104750
Wages 10368.70
ILS/Month
105000 105000 108000 10724 113000
Wages in Manufacturing 112.70
Index Points
113 119 128 119 128
Minimum Wages 5300.00
ILS/Month
5300 5300 5500 5445 5700
Population 8.81
Million
8.93 9 9.02 9.06 9.2
Retirement Age Women 63.33
63 63.33 63.75 64 64
Retirement Age Men 68.33
68 68.33 68.75 69 69
Labor Force Participation Rate 64.00
percent
63.9 63.91 63.91 63.91 63.91
Employment Rate 61.60
percent
61.44 61.2 61.45 61.45 61.4
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.40
percent
1.2 1.4 1.1 1.5 2.1
Consumer Price Index CPI 101.30
Index Points
102 102 101 103 106
Core Consumer Prices 100.90
Index Points
101 101 101 102 103
Core Inflation Rate 1.00
percent
0.89 0.91 0.91 0.91 0.91
GDP Deflator 100.05
Index Points
100 99.93 99.78 99.88 99.52
Producer Prices 95.20
Index Points
91.34 91.52 91.54 91.54 91.52
Export Prices 110.00
Index Points
109 108 109 110 109
Import Prices 101.40
Index Points
99.95 99.59 99.58 99.56 99.22
Inflation Expectations 1.50
percent
0.85 1.44 1.43 1.43 1.43
Inflation Rate Mom 0.00
percent
0.4 0.3 0.1 0.4 0.4
Food Inflation 2.80
percent
1.4 1.5 1.7 1.4 2.6
CPI Housing Utilities 103.90
Index Points
104 105 104 105 108
CPI Transportation 102.50
Index Points
99.88 101 101 103 104
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 0.10
percent
0.1 0.1 0.25 0.25 0.25
Interbank Rate 0.10
percent
0.1 0.1 0.25 0.25 0.25
Money Supply M1 397549.00
ILS Million
403859 414737 424927 434509 504182
Money Supply M2 822596.80
ILS Million
838282 850057 861689 873206 982773
Money Supply M3 1097171.77
ILS Million
1116733 1127090 1127599 1133249 1136100
Foreign Exchange Reserves 115782.00
USD Million
109782 109056 109002 108945 108218
Banks Balance Sheet 1544289.00
NIS Million
1547237 1553028 1558089 1562524 1585595
Deposit Interest Rate 0.52
percent
0.52 0.52 0.67 0.67 0.67
Private Debt to GDP 123.66
percent
126 127 128 128 133
Central Bank Balance Sheet 421014.00
NIS Million
423344 423571 423617 423627 423629
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -3246.60
USD Million
-1316 -1227 -1484 -2381 -1590
Exports 4164.20
USD Million
4622 4634 4429 4244 4362
Imports 7410.80
USD Million
5938 5861 5913 6626 5951
Current Account 1881.00
USD Million
1775 1746 1728 1701 1650
Current Account to GDP 4.10
percent
3.8 3.8 3.6 3.6 3.3
External Debt 91240.80
USD Million
90097 90880 90487 90563 90620
Terms of Trade 108.48
Index Points
109 109 110 110 110
Capital Flows -2197.70
USD Million
592 1221 1999 1183 1155
Foreign Direct Investment 32237.50
USD Million
30701 20400 33168 33098 22100
Remittances 1252.00
USD Million
1212 1253 1215 1240 1233
Tourist Arrivals 293.40
Thousand
328 358 384 350 380
Weapons Sales 1263.00
USD Million
1131 1069 995 920 679
Terrorism Index 5.06
5.25 5.18 5.18 5.17 5.16
Crude Oil Production 0.39
BBL/D/1K
0.39 0.39 0.39 0.39 0.39
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 60.90
percent
64.2 64.2 64 64 65
Government Budget -2.15
percent of GDP
-2.39 -2.9 -2.56 -2.63 -2.6
Government Budget Value -3407.00
ILS Million
-2727 -2529 -2504 -2483 -2469
Government Spending 71624.00
ILS Million
72006 73461 73916 74561 78541
Government Revenues 30508.00
ILS Million
28219 28182 28198 28193 28194
Fiscal Expenditure 33820.00
ILS Million
30946 30768 30701 30676 30662
Military Expenditure 15500.80
USD Million
14431 13810 13941 14073 13864
Government Spending To Gdp 39.55
percent
39.62 39.58 39.52 39.46 39
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 22.50
Index Points
21.2 23.1 22.8 21.5 22.3
Industrial Production 8.10
percent
20.1 2.3 4.6 2.7 4.5
Industrial Production Mom -2.20
percent
2.1 1.9 0.3 1.4 1.6
Changes in Inventories 397.20
ILS Million
1093 1315 982 1067 1039
Leading Economic Index 0.35
percent
0.4 0.3 0.3 0.4 0.3
Internet Speed 13669.17
KBps
14737 14696 14865 15039 15776
IP Addresses 2363587.00
IP
2351185 2350805 2351139 2350844 2350912
Mining Production 13.60
percent
13.53 13.81 13.62 13.73 13.69
Manufacturing Pmi 52.60
53.2 54.2 53.5 53.1 51
Manufacturing Production 6.70
percent
4.49 4.01 3.72 3.58 3.44
Ease of Doing Business 54.00
51 50 49 48 39
Competitiveness Index 5.31
Points
5.26 5.26 5.19 5.16 4.82
Competitiveness Rank 16.00
20 20 14 12 20
Corruption Index 62.00
Points
62 61 61 60 62
Corruption Rank 32.00
31 32 32 32 33
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence -8.00
Index Points
-9.2 -8.2 -8.1 -7.8 -7.6
Consumer Spending 181420.00
ILS Million
182021 183343 187225 188858 196022
Private Sector Credit 918270.00
ILS Million
930059 938346 946694 955054 1038691
Bank Lending Rate 3.45
percent
3.45 3.45 3.6 3.6 3.6
Retail Sales Mom 2.50
percent
-0.19 0.16 0.28 0.25 0.24
Retail Sales Yoy 6.90
percent
3.71 4.12 4.23 4.23 4.22
Economic Optimism Index 129.20
Index Points
131 124 134 135 131
Consumer Credit 524.58
ILS Billion
536 543 550 557 624
Households Debt To Gdp 42.00
Percent
42.13 42.14 42.16 42.16 42.16
Gasoline Prices 1.77
USD/Liter
1.78 1.68 1.59 1.5 0.8
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Housing Index 407.10
Index points
407 408 408 408 408
Building Permits 4285.00
4347 4315 4331 4325 4326
Housing Starts 9290.00
units
10373 10863 11248 11467 11385
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 24.00
percent
24 24 23.75 24 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
19.5 19.5 20 20 20
Social Security Rate For Companies 7.50
percent
7.53 7.53 7.22 7.11 6.47
Social Security Rate For Employees 12.00
percent
12 12 12 12 12
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 39.70
mm
0.34 32.84 50.64 20.46 22.8
Temperature 12.19
celsius
26.56 17.52 12.72 26.12 20.11