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.

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Israel GDP Growth Annualized

Actual Previous Highest Lowest Dates Unit Frequency
16.60 -1.40 40.10 -31.80 1995 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
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 15.4% -1.4% 10.8% 13%
2021-09-14 10:00 AM GDP Growth Annualized 2nd Est Q2 16.6% -1.4% 15.4% 15.4%
2021-10-17 10:00 AM GDP Growth Annualized 3rd Est Q2 -1.4%
2021-11-16 11:00 AM GDP Growth Annualized 1st Est Q3
2021-12-30 11:00 AM GDP Growth Annualized 2nd Est Q3


News Stream
Israel GDP Expands More than Initially Expected
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).
2021-09-14
Israel Q2 GDP Growth Above Forecasts at 15.4%
The economy of Israel expanded an annualized rate of 15.4 percent in the second quarter of 2021, following a downwardly revised 1.4 percent contraction in the previous quarter, a preliminary estimate showed. Figures came above market expectations of 10.8 percent, attributed to the removal of most of Covid-19 restrictions and a return to near-normal economic activity. Private consumption picked up (36.3 percent vs flat reading in Q1), while both public spending (4.0 percent vs -11.1 percent ) and gross fixed capital formation (9.7 percent -10.3 percent) rebounded significantly. Meantime, net trade contributed positively to growth both, as exports climbed 18.1 percent (vs 18.0 percent in Q1) while imports advanced at a slower 15.8 percent (vs 15.3 percent in Q1).
2021-08-16
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 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.