Israel Full Year GDP Growth2022 Data - 2023 Forecast - 1996-2021 Historical - Chart

Name: Israel Full Year GDP Growth
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/

Israel's economy advanced by 6.4% in 2022, slowing from an 8.7% expansion in 2021, but slightly above the Bank of Israel and the Finance Ministry estimates of 6.3%. Policymakers expect economic growth in Israel to slow sharply to close to 3% in 2023, with central bank rate hikes curbing spending. source: Central Bureau of Statistics, Israel

Full Year GDP Growth in Israel averaged 3.96 percent from 1996 until 2022, reaching an all time high of 8.76 percent in 2000 and a record low of -1.86 percent in 2020. This page includes a chart with historical data for Israel Full Year GDP Growth. Israel Full Year GDP Growth - values, historical data and charts - was last updated on March of 2023.

Full Year GDP Growth in Israel is expected to reach 2.90 percent by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the Israel Full Year GDP Growth is projected to trend around 2.80 percent in 2024 and 3.00 percent in 2025, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Growth Rate	1.37	0.43	percent	Dec 2022
GDP Growth Annualized	5.60	1.90	percent	Dec 2022
GDP Annual Growth Rate	2.57	5.73	percent	Dec 2022
GDP	488.53	413.27	USD Billion	Dec 2021

Israel Full Year GDP Growth

Israel is the most technologically advanced and developed market economy in the Middle East. The biggest sector of the economy is services, accounting for nearly 80 percent of GDP. Within services, the most important are finance and business (28 percent of GDP); government (17 percent of GDP); housing (12 percent of GDP); trade, accommodation and restaurants (10 percent of GDP); and transport, storage and communications (8 percent of GDP). Manufacturing sector has been losing importance in recent years and now accounts for 14 percent of GDP.