×
Israel

Israel Economy Stats

jaacosta47

Author: jaacosta47

Israel and China forged an agreement allowing the latter to invest in what has been described as the largest acquisition of a controlling stake in Israel's biggest food manufacturer. Hence, more Chinese investments are expected in Israel which used to deal only with western countries. China will now have access to the superb technology of Israel. http://uk.reuters.com/article/2014/05/22/us-china-israel-investment-idUSBREA4L0Q920140522

On the international scene, Israel ranks number 16 out of 187 countries in the human development index of the United Nations. Look at the primary industries of this small country. These sectors include metal, electronics, biomedical equipment, chemicals, transport equipment, processed food, and some agricultural commodities. Israel is also famous for the cutting and polishing of diamonds. However, the country has limited natural resources because of limited land area.

Israel relies on petroleum imports as well as raw materials. Yet, discovery of natural gas can reduce dependence on energy imports. The Jewish nation earned the moniker of Silicon Wadi because of the massive concentration of high technology industries in this country. It is similar to the heralded Silicon Valley of the United States. Many Israeli firms have been purchased or are working with multinationals because of personnel efficiency and expertise. For instance, the very first subsidiary of Berkshire Hathaway outside the USA was Israel. It acquired ISCAR Metal Works.

Israel joined the OECD in September 2010. The government also forged free trade concords with the United States and the European Free Trade Association as well as the MERCOSUR Trade Bloc. It has economic ties with Canada, Egypt, Jordan, Mexico, and Turkey. Israel is outstanding in terms of technological skills, research and development, and availability of venture capital. It is number one when it comes to scientists, engineers, start-up per capita (quantity), and investments (venture capital). It belongs to the 34 most progressive countries worldwide.

Overview:

Israel has a technologically advanced market economy. It depends on imports of crude oil, grains, raw materials, and military equipment. Despite limited natural resources, Israel has intensively developed its agricultural and industrial sectors over the past 20 years. Cut diamonds, high-technology equipment, and agricultural products (fruits and vegetables) are the leading exports. Israel usually posts sizable trade deficits, which are covered by large transfer payments from abroad and by foreign loans. Roughly half of the government's external debt is owed to the US, its major source of economic and military aid. Israel's GDP, after contracting slightly in 2001 and 2002 due to the Palestinian conflict and troubles in the high-technology sector, grew about 5% per year from 2004-07. The global financial crisis of 2008-09 spurred a brief recession in Israel, but the country entered the crisis with solid fundamentals - following years of prudent fiscal policy and a series of liberalizing reforms - and a resilient banking sector, and the economy has shown signs of an early recovery. Following GDP growth of 4% in 2008, Israel's GDP slipped to 0.2% in 2009, but reached 3.4% in 2010, as exports rebounded. The global economic downturn affected Israel's economy primarily through reduced demand for Israel's exports in the United States and EU, Israel's top trading partners. Exports account for about 25% of the country's GDP. The Israeli Government responded to the recession by implementing a modest fiscal stimulus package and an aggressive expansionary monetary policy - including cutting interest rates to record lows, purchasing government bonds, and intervening in the foreign currency market. The Bank of Israel began raising interest rates in the summer of 2009 when inflation rose above the upper end of the Bank's target and the economy began to show signs of recovery.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Figures expressed per capita for the same year.
  • GDP per capita: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Figures expressed per capita for the same year.
  • Gross National Income: GNI, Atlas method (current US$). GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and prop).
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $63.54 billion 2013 45th out of 223
Budget surplus > + or deficit > - -4% of GDP 2012 120th out of 182
Debt > Government debt > Public debt, share of GDP 74.4 CIA 2014 34th out of 153
Exports $62.32 billion 2012 52nd out of 189
Fiscal year calendar year 2013
GDP $258.22 billion 2011 38th out of 189
GDP > Composition by sector > Industry 31.4% 2012 68th out of 217
GDP > Per capita $28,910.73 per capita 2007 30th out of 183
GDP > Per capita > PPP $33,900.00 2012 25th out of 188
GDP > Purchasing power parity per capita $28,477.36 2010 29th out of 181
GDP per capita $33,250.09 2011 31st out of 189
Gross National Income $107.00 billion 2001 32nd out of 158
Population below poverty line 23.6% 2013 5th out of 8
Public debt 66.9% of GDP 2012 40th out of 149
Unemployment rate 6.9% 2012 65th out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); All CIA World Factbooks 18 December 2003 to 18 December 2008; World Bank national accounts data, and OECD National Accounts data files.; CIA World Factbook 2010, 2011, 2012, 2013; CIA World Factbooks 18 December 2003 to 28 March 2011. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; World Bank national accounts data, and OECD National Accounts data files. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"Israel Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Israel/Economy

NationMaster

Israel Economy Profiles (Subcategories)

Adjusted savings 3 Inflation 9
Aid 5 Innovation 20
Balance of payments 28 Intellectual property 6
Budget 10 Interest payments 3
Business 3 International tourism 14
Changes in net 4 Labor force 3
Commercial service 4 Market capitalization of listed companies 4
Commercial service imports 4 Merchandise 4
Companies 30 Merchandise imports 4
Consumption 22 Micro 4
Currency 12 National accounts 81
Current account balance 5 Natural gas 8
Current transfers 4 Net capital account 4
Debt 51 Net current transfers 4
Economic aid 3 Net current transfers from abroad 5
Electricity 8 Net errors and omissions 4
Entrepreneurship 12 Net income 4
Exports 3 Net income from abroad 6
External balance on goods and services 7 Net trade in goods 4
Final 20 Net trade in goods and services 4
Financial sector 36 Official development assistance and official aid 4
Foreign aid 41 Oil 10
Foreign direct investment 10 Portfolio investment 4
GDP 42 Poverty and inequality 6
GDP growth 3 Purchasing power parity 11
GDP per capita 4 Reserves 6
GNI 12 Royalty and license fees 8
Goods 4 Savings 44
Goods imports 4 Service 4
Government 12 Service imports 4
Government spending 5 Spending 73
Gross capital formation 10 Stock of direct foreign investment 6
Gross domestic savings 6 Stocks traded 5
Gross fixed capital formation 7 Tax 56
Gross national expenditure 9 Total 9
Gross savings 6 Tourism 21
High-technology 4 Tourism expenditures 5
Household final 23 Tourism receipts 5
Income 24 Tourist arrivals by region of origin 8
Income distribution 4 Trade 1570
Income payments 4 Trademark applications 3
Income receipts 4 Transnational corporations 4
Inequality 8 Welfare 5
  • Israel ranked #4 for GDP > composition by sector > industry amongst Heavily indebted countries in 2012.
  • Israel ranked first for tax > tax payments > number amongst High income OECD countries in 2013.
  • Israel ranked first for human development index amongst Middle Eastern and North Africa in 2006.
  • Israel ranked #8 for GDP > per capita > PPP amongst Former British colonies in 2012.

5

Israel and China forged an agreement allowing the latter to invest in what has been described as the largest acquisition of a controlling stake in Israel's biggest food manufacturer. Hence, more Chinese investments are expected in Israel which used to deal only with western countries. China will now have access to the superb technology of Israel. http://uk.reuters.com/article/2014/05/22/us-china-israel-investment-idUSBREA4L0Q920140522

On the international scene, Israel ranks number 16 out of 187 countries in the human development index of the United Nations. Look at the primary industries of this small country. These sectors include metal, electronics, biomedical equipment, chemicals, transport equipment, processed food, and some agricultural commodities. Israel is also famous for the cutting and polishing of diamonds. However, the country has limited natural resources because of limited land area.

Israel relies on petroleum imports as well as raw materials. Yet, discovery of natural gas can reduce dependence on energy imports. The Jewish nation earned the moniker of Silicon Wadi because of the massive concentration of high technology industries in this country. It is similar to the heralded Silicon Valley of the United States. Many Israeli firms have been purchased or are working with multinationals because of personnel efficiency and expertise. For instance, the very first subsidiary of Berkshire Hathaway outside the USA was Israel. It acquired ISCAR Metal Works.

Israel joined the OECD in September 2010. The government also forged free trade concords with the United States and the European Free Trade Association as well as the MERCOSUR Trade Bloc. It has economic ties with Canada, Egypt, Jordan, Mexico, and Turkey. Israel is outstanding in terms of technological skills, research and development, and availability of venture capital. It is number one when it comes to scientists, engineers, start-up per capita (quantity), and investments (venture capital). It belongs to the 34 most progressive countries worldwide.

Posted on 25 May 2014

jaacosta47

jaacosta47

423 Stat enthusiast