Israel GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Israel contracted 0.98 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Israel averaged 3.77 percent from 1996 until 2024, reaching an all time high of 16.47 percent in the second quarter of 2021 and a record low of -7.88 percent in the second quarter of 2020. source: Central Bureau of Statistics, Israel

GDP Annual Growth Rate in Israel is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Israel GDP Annual Growth Rate is projected to trend around 3.00 percent in 2025 and 4.80 percent in 2026, according to our econometric models.

Related	Last	Previous	Unit	Reference
Full Year GDP Growth	1.84	6.50	percent	Dec 2023
GDP Annual Growth Rate	-0.98	-1.91	percent	Sep 2024
GDP Constant Prices	408884.00	406075.00	ILS Million	Sep 2024
GDP from Agriculture	4358.80	4253.80	ILS Million	Sep 2023
GDP from Construction	21475.00	20658.50	ILS Million	Sep 2023
GDP from Public Administration	63788.80	55896.70	ILS Million	Dec 2023
GDP from Transport	11958.90	11831.80	ILS Million	Sep 2023
GDP from Utilities	7180.80	6302.50	ILS Million	Sep 2023
GDP Growth Annualized	4.00	-0.30	percent	Sep 2024
GDP Growth Rate	0.90	0.10	percent	Sep 2024
Gross Fixed Capital Formation	92525.00	86696.00	ILS Million	Sep 2024
Gross National Product	494977.50	476616.40	ILS Million	Sep 2024

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.