The Gross Domestic Product (GDP) in Israel expanded 8.40 percent in the third quarter of 2020 over the previous quarter. It is s record growth rate, following a record 8.5 percent slump in the previous period due to the coronavirus crisis, preliminary estimates showed. source: Central Bureau of Statistics, Israel

GDP Growth Rate in Israel averaged 0.92 percent from 1980 until 2020, reaching an all time high of 8.40 percent in the third quarter of 2020 and a record low of -8.50 percent in the second quarter of 2020. This page provides - Israel GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Israel GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

GDP Growth Rate in Israel is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Israel to stand at 0.60 in 12 months time. In the long-term, the Israel GDP Growth Rate is projected to trend around 1.20 percent in 2021, according to our econometric models.

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Israel GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.40 -8.50 8.40 -8.50 1980 - 2020 percent Quarterly
SA, 2010 prices


Calendar GMT Actual Previous Consensus TEForecast
2020-08-16 10:00 AM QoQ 1st Est Q2 -8.1% -1.7% -10.2%
2020-09-16 10:00 AM QoQ 2st Est Q2 -8.2% -1.8% -8.4%
2020-10-18 10:00 AM QoQ 3st Est Q2 -8.1% -1.8% -8.2%
2020-11-16 11:00 AM QoQ 1st Est Q3 8.4% -8.5% 6.9%
2020-12-31 11:00 AM QoQ 2st Est Q3 -8.5% 8.4%
2021-01-16 11:00 AM QoQ 3rd Est Q3
2021-02-16 11:00 AM QoQ 1st Est Q4
2021-03-10 11:00 AM QoQ 2nd Est Q4

Israel GDP Last Previous Highest Lowest Unit
GDP Growth Rate 8.40 -8.50 8.40 -8.50 percent [+]
GDP Annual Growth Rate -1.50 -8.20 10.60 -8.20 percent [+]
GDP Growth Annualized 37.90 -29.80 37.90 -29.80 percent [+]
GDP 395.10 370.59 395.10 2.51 USD Billion [+]
GDP Constant Prices 331758.60 307067.10 340471.50 136916.40 ILS Million [+]
Gross National Product 340782.60 312603.80 365153.30 69455.30 ILS Million [+]
Gross Fixed Capital Formation 62773.40 62292.00 70422.20 32226.60 ILS Million [+]
GDP per capita 35293.40 34749.70 35293.40 8789.00 USD [+]
GDP per capita PPP 40161.90 39543.20 40161.90 24488.50 USD [+]
GDP From Agriculture 3831.30 3236.30 4572.90 1761.60 ILS Million [+]
GDP From Construction 16520.90 17762.90 19658.00 8445.70 ILS Million [+]
GDP From Manufacturing 38654.10 41173.50 41173.50 26307.30 ILS Million [+]
GDP From Public Administration 45343.30 42423.30 48111.90 27570.70 ILS Million [+]
GDP From Services 31897.60 35318.70 37837.20 12186.20 ILS Million [+]
GDP From Transport 8752.20 10378.70 11497.40 3308.40 ILS Million [+]
GDP From Utilities 3304.00 4176.80 6946.60 2367.80 ILS Million [+]


Israel GDP Growth Rate
The main driver of Israeli economy is science and technology sector. As such, despite limited natural resources, its manufacturing and agriculture sectors are highly developed. .The biggest sector of the economy is services, accounting for nearly 80 percent of GDP. Within services, the most important are finance and business (28 percent of GDP); government (17 percent of GDP); housing (12 percent of GDP); trade, accommodation and restaurants (10 percent of GDP); and transport, storage and communications (8 percent of GDP). Manufacturing sector has been losing importance in recent years and now accounts for 14 percent of GDP.