The economy of Israel advanced an annualized 6.5% on quarter in the fourth quarter of 2020, compared with a second estimate of 6.4% and an upwardly revised 42.3% growth between July and September, final estimates showed. Private consumption eased to 17.7% (vs 43.3% Q3), while net trade contributed negatively to the GDP, as exports fell 5.5% (vs 68% in Q3) and imports jumped 86% (vs -1.1%). On the other hand, both fixed investment (65.6% vs 17.4%) and public spending (25.5% vs 8.3%) picked up. Considering the full year of 2020, the Israeli economy contracted 2.6% due to the coronavirus pandemic, compared with an earlier estimate of a 2.5% decline and following a 3.4% growth in 2019. The Bank of Israel forecasts growth of up to 6.3% in 2021 if the pace of vaccinations is kept up. source: Central Bureau of Statistics, Israel
GDP Growth Annualized in Israel averaged 3.78 percent from 1995 until 2020, reaching an all time high of 41.50 percent in the third quarter of 2020 and a record low of -29.90 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 May of 2021.
GDP Growth Annualized in Israel is expected to be 6.50 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 3.50 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.