Israel GDP Growth Rate2022 Data - 2023 Forecast - 1980-2021 Historical - Calendar

Name: Israel GDP Growth Rate
Creator: TRADING ECONOMICS
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Keywords: Israel,GDP Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2021,2022,2023

The economy of Israel contracted by 0.4 percent over the prior quarter on a seasonally adjusted basis in Q1 2022, following a downwardly revised 3.7 percent gain in the prior period, first estimates showed. source: Central Bureau of Statistics, Israel

GDP Growth Rate in Israel averaged 0.94 percent from 1980 until 2022, reaching an all time high of 8.70 percent in the third quarter of 2020 and a record low of -9.10 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 May of 2022.

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. In the long-term, the Israel GDP Growth Rate is projected to trend around 0.50 percent in 2023, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	-0.40	3.70	percent	Mar 2022
GDP Growth Annualized	-1.60	15.60	percent	Mar 2022
GDP Annual Growth Rate	9.02	9.62	percent	Mar 2022
GDP Constant Prices	376863.90	378426.70	ILS Million	Mar 2022
Gross National Product	401695.40	417304.00	ILS Million	Mar 2022
Gross Fixed Capital Formation	80309.60	79775.80	ILS Million	Mar 2022
Full Year GDP Growth	8.20	-2.20	percent	Dec 2021
GDP From Public Administration	51267.80	50695.40	ILS Million	Mar 2022
GDP From Utilities	4424.10	4910.20	ILS Million	Mar 2021
GDP From Transport	8834.10	8953.60	ILS Million	Mar 2021
GDP From Services	36064.80	34218.90	ILS Million	Mar 2021
GDP From Manufacturing	42173.20	44206.70	ILS Million	Mar 2021
GDP From Construction	18471.90	19403.20	ILS Million	Mar 2021
GDP From Agriculture	3393.00	3722.60	ILS Million	Mar 2021

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.