A brief guide to Israel economy, Israel economy overview, Inflation rates GDP and other economic indicators in Israel.
The Israeli economy is, without doubt the most developed economy in the Eastern Mediterranean.
The main export branches, many of which enjoy a world-wide reputation are industrial, mainly hi-tech, diamonds, the defense industries, agricultural products and tourism services.
The main sources of the GDP in Israel are services (64%), industry (33%) and agriculture (3%).
In the years 2001-2003 Israel's economy was under recession, mainly due to cruel Palestinian Intifada acts of terror, causing a serious decline in incoming tourism and foreign investments. From 2004 onwards, Israel's economy showed an amazing recovery. The annual GDP growth for 2004-2006 was above 5% per year. Inflation rates in these years was below 2.1%.
The unemployment rate in 2006 was 8.4%, compared to more than 10.4% in the years 2003-2004.
According to a February 2008 report by the International Monetary Fund, IMF, Israel's economy in 2007 was described as having an "Exceptional performance".
According to the IMF the GDP in 2008 would be 3.5% with an iflation rate of 2%.
According to the CIA factbookthe 2007 GDP per capita in Israel (ppp) was $28,800 (world average-$10,000 in 2007).
In 2006 Israel's main export partners were the U.S (38%), Belgium (7%), and Hong Kong (6%).
Israel's main imports in 2006 were from the U.S (12%), Belgium (8%), and Germany (7%).
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
Please read our terms of service before entering this site.