The economy of Israel contracted an annualized 5.8% on quarter in the first three months of 2021, slightly less than 6.2 percent in the second estimate. Still, it is the first contraction in 3 quarters, due to declines in both private (-2.4 percent) and public spending (-23 percent) and gross fixed capital formation (-13.8 percent). In contrast, exports rose 15 percent and imports 11.9 percent. The Bank of Israel lowered its growth forecast for 2021 to 5.5 percent in June. source: Central Bureau of Statistics, Israel

GDP Growth Annualized in Israel averaged 3.68 percent from 1995 until 2021, reaching an all time high of 42.40 percent in the third quarter of 2020 and a record low of -30.70 percent in the second quarter of 2020. This page provides the latest reported value for - Israel GDP Growth Annualized - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Israel GDP Growth Annualized - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

GDP Growth Annualized in Israel is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Annualized in Israel to stand at 4.20 in 12 months time. In the long-term, the Israel GDP Growth Annualized is projected to trend around 4.50 percent in 2022 and 4.00 percent in 2023, according to our econometric models.

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Israel GDP Growth Annualized

Actual Previous Highest Lowest Dates Unit Frequency
-5.80 6.30 42.40 -30.70 1995 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-18 10:00 AM GDP Growth Annualized 3rd Est Q4 6.5% 42.3% 6.4%
2021-05-18 10:00 AM GDP Growth Annualized 1st Est Q1 -6.5% 6.3% 3.6% 5.5%
2021-06-16 10:00 AM GDP Growth Annualized 2nd Est Q1 -6.2% 6.3% -6.5%
2021-07-18 10:00 AM GDP Growth Annualized 3rd Est Q1 -5.8% 6.3% -6.2%
2021-08-16 10:00 AM GDP Growth Annualized 1st Est Q2 -6.2%
2021-09-14 10:00 AM GDP Growth Annualized 2nd Est Q2
2021-10-17 10:00 AM GDP Growth Annualized 3rd Est Q2
2021-11-16 11:00 AM GDP Growth Annualized 1st Est Q3


News Stream
Israel GDP Contracts Slightly Less than Initially Expected
The economy of Israel contracted an annualized 5.8% on quarter in the first three months of 2021, slightly less than 6.2 percent in the second estimate. Still, it is the first contraction in 3 quarters, due to declines in both private (-2.4 percent) and public spending (-23 percent) and gross fixed capital formation (-13.8 percent). In contrast, exports rose 15 percent and imports 11.9 percent. The Bank of Israel lowered its growth forecast for 2021 to 5.5 percent in June.
2021-07-19
Israel GDP Contracts 6.5% in Q1
The economy of Israel contracted an annualized 6.5% on quarter in the first three months of 2021, after a downwardly revised 6.3% growth in the previous period, flash estimates showed. Private consumption fell 3.2% (vs 17.7% in Q4), government spending dropped 24 percent (vs 26.5 percent) and gross fixed capital formation decreased 14.2 percent (vs 66.7 percent). Meantime, net trade contributed positively to the GDP, as exports rebounded 13% (vs -3.3% in Q4), and imports increased at a softer 9.6% (vs 87.4%). Israel's economy is projected to rebound by at least 5% in 2021, as almost 60% of Israel's population is fully vaccinated and most businesses reopened.
2021-05-18
Israel Q4 GDP Growth Revised Up to 6.5%
The economy of Israel advanced an annualized 6.5% on quarter in the fourth quarter of 2020, compared with a second estimate of 6.4% and an upwardly revised 42.3% growth between July and September, final estimates showed. Private consumption eased to 17.7% (vs 43.3% Q3), while net trade contributed negatively to the GDP, as exports fell 5.5% (vs 68% in Q3) and imports jumped 86% (vs -1.1%). On the other hand, both fixed investment (65.6% vs 17.4%) and public spending (25.5% vs 8.3%) picked up. Considering the full year of 2020, the Israeli economy contracted 2.6% due to the coronavirus pandemic, compared with an earlier estimate of a 2.5% decline and following a 3.4% growth in 2019. The Bank of Israel forecasts growth of up to 6.3% in 2021 if the pace of vaccinations is kept up.
2021-04-18
Israel Q4 GDP Growth Revised Higher
The economy of Israel advanced an annualized 6.4 percent on quarter in the last three months of 2020, compared with a preliminary reading of 6.3 percent and following an upwardly revised 41.7 percent surge in the previous period. Private consumption eased to 17.5 percent (vs 41.9 percent Q3), while net trade weighed down on GDP, as exports fell 4.3 percent (vs 68.0 percent) and imports surged 86 percent (vs -1.1 percent). On the other hand, fixed investment surged 62.6 percent (vs 17.4 percent), and public spending growth jumped to 25.5 percent (vs 8.3 percent). Considering full 2020, the economy contracted 2.5 percent due to the coronavirus pandemic, following a 3.4 percent growth in 2019. For 2021, the Bank of Israel projects a 6.3 percent growth, assuming the rapid inoculation continues, while Israel's Ministry of Finance sees the economy expanding by 4.6 percent.
2021-03-10

Israel GDP Growth Annualized
GDP Annualized Growth Rate shows the gdp growth that would be registered if the quarter-on-quarter rate of change were maintained for a full year.