Israel - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Israel including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Israel economy.


Overview Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.40 1 1.2 0.9 1.1 1.2 percent
Unemployment Rate 4.20 4.1 3.9 3.6 3.4 3.4 percent
Inflation Rate 1.20 1.2 1.4 1.3 1.5 2.1 percent
Interest Rate 0.10 0.1 0.1 0.25 0.25 0.25 percent
Balance of Trade -2733.50 -1316 -1227 -1484 -2381 -1590 USD Million
Government Debt to GDP 60.90 64.2 64.2 64 64 65 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 3.57
3.66 3.67 3.69 3.71 3.78
Stock Market 1504.78
points
1472 1460 1448 1436 1389
Government Bond 10Y 1.96
percent
1.95 1.98 2.02 2.06 2.21
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.40
percent
1 1.2 0.9 1.1 1.2
GDP Annual Growth Rate 4.00
percent
3.3 3.5 3.3 3.2 3.6
GDP Growth Annualized 1.80
percent
3.4 3.4 3.3 3.79 3.6
GDP 350.85
USD Billion
363 363 386 386 392
GDP Constant Prices 324584.20
ILS Million
326031 330430 333673 334971 353280
Gross National Product 324111.80
ILS Million
324493 331792 326589 334483 354736
Gross Fixed Capital Formation 64405.30
ILS Million
67043 67195 67676 66466 71842
GDP per capita 34134.81
USD
34737 34737 35023 35023 35304
GDP per capita PPP 33132.32
USD
33300 33300 33900 33900 34000
GDP From Agriculture 3842.90
ILS Million
3645 3954 3970 3966 4227
GDP From Construction 14814.80
ILS Million
17073 16836 15304 15289 18000
GDP From Manufacturing 38385.70
ILS Million
36356 38393 39652 39614 41048
GDP From Public Administration 46683.80
ILS Million
44987 46899 48590 48178 50142
GDP From Services 33050.40
ILS Million
34659 33867 34141 34108 36208
GDP From Transport 9216.40
ILS Million
9887 9956 9521 9511 10644
GDP From Utilities 6159.20
ILS Million
6177 4610 6362 6356 4929
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 4.20
percent
4.1 3.9 3.6 3.4 3.4
Employed Persons 3902.34
Thousand
3930 3954 3979 4003 4244
Unemployed Persons 155.97
Thousand
156 158 148 151 153
Job Vacancies 110856.00
106101 106655 106705 106701 106701
Wages 10465.60
ILS/Month
105000 105000 108000 10692 113000
Wages in Manufacturing 112.60
Index Points
113 119 128 119 128
Minimum Wages 5300.00
ILS/Month
5300 5300 5500 5500 5700
Population 8.81
Million
8.93 9 9.02 9.06 9.2
Retirement Age Women 63.33
63 63.33 63.75 64 64
Retirement Age Men 68.33
68 68.33 68.75 69 69
Labor Force Participation Rate 63.90
percent
63.93 63.92 63.92 63.92 63.92
Employment Rate 61.60
percent
61.44 61.2 61.45 61.45 61.4
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.20
percent
1.2 1.4 1.3 1.5 2.1
Consumer Price Index CPI 101.40
Index Points
102 102 102 103 106
Core Consumer Prices 101.00
Index Points
101 101 101 102 103
Core Inflation Rate 0.90
percent
0.83 0.85 0.85 0.85 0.85
GDP Deflator 101.73
Index Points
100 99.93 99.78 99.88 99.52
Producer Prices 95.00
Index Points
91.34 91.52 91.54 91.54 91.52
Export Prices 110.00
Index Points
109 108 109 110 109
Import Prices 101.40
Index Points
99.95 99.59 99.58 99.56 99.22
Inflation Expectations 1.30
percent
1.6 1.5 1.5 1.6 1.7
Inflation Rate Mom 0.10
percent
0.4 0.3 0.1 0.4 0.4
Food Inflation 1.70
percent
1.4 1.5 1.7 1.4 2.6
CPI Housing Utilities 104.30
Index Points
104 105 104 105 108
CPI Transportation 102.70
Index Points
99.88 101 102 103 104
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 0.10
percent
0.1 0.1 0.25 0.25 0.25
Interbank Rate 0.11
percent
0.11 0.11 0.26 0.26 0.26
Money Supply M1 400564.00
ILS Million
403859 414737 424927 434509 504182
Money Supply M2 832035.70
ILS Million
840082 852209 864204 876085 989545
Money Supply M3 1087438.87
ILS Million
1089839 1095950 1094073 1098198 1099084
Foreign Exchange Reserves 116005.00
USD Million
109782 109056 109002 108945 108218
Banks Balance Sheet 1544289.00
NIS Million
1547237 1553028 1558089 1562524 1585595
Deposit Interest Rate 0.52
percent
0.52 0.52 0.67 0.67 0.67
Private Debt to GDP 123.66
percent
126 127 128 128 133
Central Bank Balance Sheet 416736.00
NIS Million
415359 415308 415287 415280 415277
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -2733.50
USD Million
-1316 -1227 -1484 -2381 -1590
Exports 4284.00
USD Million
4622 4634 4429 4244 4362
Imports 7017.50
USD Million
5938 5861 5913 6626 5951
Current Account 795.00
USD Million
1775 1746 1728 1701 1650
Current Account to GDP 4.10
percent
3.8 3.8 3.6 3.6 3.3
External Debt 91240.80
USD Million
90097 90880 90487 90563 90620
Terms of Trade 108.48
Index Points
109 109 110 110 110
Capital Flows -1194.40
USD Million
592 1221 1999 1183 1155
Foreign Direct Investment 36924.80
USD Million
30701 20400 33168 33098 22100
Remittances 1236.80
USD Million
1212 1253 1215 1240 1233
Tourist Arrivals 278.80
Thousand
328 358 384 350 380
Weapons Sales 1263.00
USD Million
1131 1069 995 920 679
Terrorism Index 5.06
5.25 5.18 5.18 5.17 5.16
Crude Oil Production 0.39
BBL/D/1K
0.39 0.39 0.39 0.39 0.39
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 60.90
percent
64.2 64.2 64 64 65
Government Budget -2.15
percent of GDP
-2.39 -2.9 -2.56 -2.63 -2.6
Government Budget Value -4300.00
ILS Million
-1905 -3038 -2957 -3000 -3002
Government Spending 72860.20
ILS Million
72135 74259 76271 75192 79394
Government Revenues 25576.00
ILS Million
28770 27879 28066 28041 28045
Fiscal Expenditure 29796.00
ILS Million
30675 30952 31023 31042 31047
Military Expenditure 15500.80
USD Million
14431 13810 13941 14073 13864
Government Spending To Gdp 39.55
percent
39.62 39.58 39.52 39.46 39
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 23.30
Index Points
21.2 23.1 22.8 21.5 22.3
Industrial Production 4.00
percent
20.1 2.3 4.6 2.7 4.5
Industrial Production Mom -0.60
percent
2.1 1.9 0.3 1.4 1.6
Changes in Inventories 3483.00
ILS Million
1093 1315 982 1067 1039
Leading Economic Index 0.36
percent
0.4 0.3 0.3 0.4 0.3
Internet Speed 13669.17
KBps
14737 14696 14865 15039 15776
IP Addresses 2363587.00
IP
2351185 2350805 2351139 2350844 2350912
Mining Production 6.40
percent
8.07 8.68 8.2 8.43 8.35
Manufacturing Pmi 50.40
53.2 54.2 53.5 53.1 51
Manufacturing Production 3.00
percent
3.69 3.54 3.4 3.32 3.26
Ease of Doing Business 54.00
51 50 49 48 39
Competitiveness Index 5.31
Points
5.26 5.26 5.19 5.16 4.82
Competitiveness Rank 16.00
20 20 14 12 20
Corruption Index 62.00
Points
62 61 61 60 62
Corruption Rank 32.00
31 32 32 32 33
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence -13.00
Index Points
-9.2 -8.2 -8.1 -7.8 -7.6
Consumer Spending 182394.10
ILS Million
182676 184277 188165 188231 197020
Private Sector Credit 938465.00
ILS Million
931638 939788 948114 956477 1040211
Bank Lending Rate 3.45
percent
3.45 3.45 3.6 3.6 3.6
Retail Sales Mom -1.40
percent
-0.49 -0.04 0.19 0.21 0.18
Retail Sales Yoy 0.20
percent
2.31 2.31 2.66 2.67 2.66
Economic Optimism Index 130.40
Index Points
132 124 136 138 131
Consumer Credit 528.69
ILS Billion
538 545 553 560 629
Households Debt To Gdp 42.00
Percent
42.13 42.14 42.16 42.16 42.16
Gasoline Prices 1.81
USD/Liter
1.84 1.74 1.64 1.55 1.23
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Housing Index 410.90
Index points
413 415 415 416 416
Building Permits 4285.00
4347 4315 4331 4325 4326
Housing Starts 9290.00
units
10373 10863 11248 11467 11385
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 24.00
percent
24 24 24 24 25
Personal Income Tax Rate 50.00
percent
50 50 50 50 49
Sales Tax Rate 17.00
percent
17 17 17 17 17
Social Security Rate 19.50
percent
19.5 19.5 20 20 20
Social Security Rate For Companies 7.50
percent
7.53 7.53 7.22 7.11 6.47
Social Security Rate For Employees 12.00
percent
12 12 12 12 12
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 39.70
mm
0.34 32.84 50.64 20.46 22.8
Temperature 12.19
celsius
26.56 17.52 12.72 26.12 20.11