The economy of Israel advanced an annualized rate of 16.6 percent in the second quarter of 2021, better than initial estimates of a 15.4 percent rise and following a downwardly revised 1.4 percent contraction in the previous quarter, a second estimate showed. The rebound was due to the removal of most Covid-19 restrictions and a return to near-normal economic activity. Private consumption rose (39.2 percent vs almost 0.1 percent in Q1), while both public spending (3.6 percent vs -12.9 percent) and gross fixed capital formation (13.2 percent vs -9.5 percent) rebounded significantly. Meanwhile, net trade contributed positively to growth as exports picked up 19.8 percent (vs 19 percent in Q1) while imports grew at a slower 17.6 percent (vs 15.8 percent in Q1). source: Central Bureau of Statistics, Israel
GDP Growth Annualized in Israel averaged 3.87 percent from 1995 until 2021, reaching an all time high of 40.10 percent in the third quarter of 2020 and a record low of -31.80 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 September 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. 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.