GDP

GDP of Israel in 2023 - Expenditure Approach, Sector Output, and Regional GDP

Last Updated: October 31, 2023
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GDP Summary

“Israel with a population of had a total GDP value of US dollars (calculated in current US dollars) for the whole of 2022. The GDP per capita is 54337, and the growth rate in 2022 is 6.5%.”

Population

9.054 million

Land Size

21640 km²

GDP

525 billion

GDP Per Capita

54337 USD

Real GDP Growth
Note: Real GDP Growth (%) | Forecast after 2023
GDP Per Capital (Nominal)
Note: Current USD | Forecast after 2023
GDP Per Capita (PPP)
Note: PPP | Forecast after 2023

GDP Structure (Expenditure Approach)

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Private Consumption
49.2%
Government Expneidutre
20.9%
Capital Formation
24.6%
Export
31.7%
Import
28.8%
GDP Growth(By Type)
Note: Real GDP Growth (%) | Forecast after 2023

GDP Structure By Sector

The latest GDP update was in October 2023, updating the data on the contribution of GDP output in various sectors for the year 2022, as a proportion of the total GDP. The data is sourced from the World Bank, IMF, and local government statistics. Predictions on the sources of GDP contribution are from the EIU.

Agriculture
1.3%
Industry
21.8%
Manufacturing
14.3%
Service
75.4%
Economic Growth(By Sector)
Note: Real GDP Growth (%) | Forecast after 2023

Economic Development

In 2023, Israel’s external and domestic demand growth is likely to decrease due to various factors such as higher living costs, rising interest rates, and recessions in export markets, although high-tech service exports will be less impacted. While rising inflation will reduce consumer demand, a surge in immigration and ongoing employment growth will maintain positive private consumption growth. The gas sector is expected to benefit from high global energy prices and European efforts to diversify energy sources away from Russia, despite the weak global economy. Business investment growth will remain positive but low due to higher interest rates and a global downturn in technology markets. Export performance will be affected by the fall in global demand and the appreciation of the shekel. High-tech manufacturing and technology business services will continue to grow slowly, while ga...

Unemployment

3.8 %

Inflation

4.4 %

Urbanization

92.5 %

TFR

3 人

Unemployment Rate
Unit: %
Inflation Rate
Unit: %