The economy of Israel shrank an annualized 6.9 percent on quarter in the first three months of 2020, revised from an earlier estimate of a 6.8 percent decline and after growing 4.6 percent in the previous period, final estimates showed. It was the first contraction since 2012 and the sharpest since at least 1995, amid the coronavirus crisis. Private consumption slumped further (-20.8 percent vs a preliminary estimate of -20.2 percent) while both fixed investment (-20.7 percent) and government spending (-10.8 percent) declined as much as previously thought. Regarding net external demand, exports dropped less than initially thought (-1.6 percent vs -2.7 percent in the second estimate) and imports (-23.4 percent) decreased at the same pace as the earlier estimate.

GDP Growth Annualized in Israel averaged 3.71 percent from 1995 until 2020, reaching an all time high of 18.10 percent in the second quarter of 1999 and a record low of -6.90 percent in the first 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 August of 2020.

GDP Growth Annualized in Israel is expected to be 3.20 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 3.10 in 12 months time. In the long-term, the Israel GDP Growth Annualized is projected to trend around 3.20 percent in 2021, according to our econometric models.

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Israel GDP Growth Annualized

Actual Previous Highest Lowest Dates Unit Frequency
-6.90 4.60 18.10 -6.90 1995 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-19 10:00 AM GDP Growth Annualized 3rd Est Q4 4.6% 4.1% 4.2%
2020-05-25 10:00 AM GDP Growth Annualized 1st Est Q1 -7.1% 4.6% 3.1%
2020-06-16 10:00 AM GDP Growth Annualized 2nd Est Q1 -6.8% 4.6% -7.1% -7.1%
2020-07-16 10:00 AM GDP Growth Annualized 3rd Est Q1 -6.9% 4.6% -6.8%
2020-08-16 10:00 AM GDP Growth Annualized 1st Est Q2 -6.9% -3.8%
2020-09-16 10:00 AM GDP Growth Annualized 2nd Est Q2 -3.8%
2020-10-18 10:00 AM GDP Growth Annualized 3rd Est Q2 -3.8%
2020-11-16 11:00 AM GDP Growth Annualized 1st Est Q3 3.2%
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News Stream
Israel Economy Shrinks More than Initially Thought
The economy of Israel shrank an annualized 6.9 percent on quarter in the first three months of 2020, revised from an earlier estimate of a 6.8 percent decline and after growing 4.6 percent in the previous period, final estimates showed. It was the first contraction since 2012 and the sharpest since at least 1995, amid the coronavirus crisis. Private consumption slumped further (-20.8 percent vs a preliminary estimate of -20.2 percent) while both fixed investment (-20.7 percent) and government spending (-10.8 percent) declined as much as previously thought. Regarding net external demand, exports dropped less than initially thought (-1.6 percent vs -2.7 percent in the second estimate) and imports (-23.4 percent) decreased at the same pace as the earlier estimate.
2020-07-16
Israel GDP Contracts Slightly Less than Initially Thought
The economy of Israel shrank an annualized 6.8 percent on quarter in the first three months of 2020, slightly less than an earlier estimate of a 7.1 percent drop. Still, it is the first contraction since 2012 and the worst since at least 1995, due to the coronavirus pandemic, second estimates showed. Private consumption plunged slightly less (-20.2 percent vs flash estimate of -20.3 percent) while both fixed investment (-20.7 percent vs -17.3 percent) and government spending (-10.8 percent vs -10.3 percent) posted larger declines. Regarding net external demand, both exports (-2.7 percent from -5.9 percent in flash estimate) and imports (-23.4 percent from -27.5 percent in flash estimate) decreased less than previously thought.
2020-06-16
Israel GDP Contracts at Record 7.1% in Q1
The economy of Israel shrank an annualized 7.1 percent on quarter in the first three months of 2020, due to the coronavirus pandemic. It is the first contraction since 2012 and the worst since at least 1995, flash estimates showed. Private spending slumped 20.3 percent, investment in fixed assets dropped 17.3 percent, government spending went down 10.3 percent, exports slumped 5.9 percent and imports plunged 27.5 percent.
2020-05-25
Israel GDP Growth Revised Up to 4.6% in Q4
The economy of Israel expanded an annualized 4.6 percent on quarter in the last three months of 2019, higher than 4.2 percent in the second estimate. Both private consumption (10.4 percent vs 9.5 percent in the second estimate) and fixed investment (7.3 percent vs 5.3 percent) rose faster than anticipated. At the same time, public spending slowed as previously reported (0.1 percent) and both exports (6.8 percent) and imports (11.3 percent) were unrevised. Considering full 2019, the economy expanded 3.5 percent, slightly higher than 3.4 percent in 2018.
2020-04-19

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.