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.