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Economic Highlights Presentation 4 th Quarter 2011

STATE OF ISRAEL MINISTRY OF FINANCE International Affairs Department. Economic Highlights Presentation 4 th Quarter 2011. In any case of information derived from sources external to the Ministry of Finance, such sources are mentioned at the bottom of each item. Table of Contents.

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Economic Highlights Presentation 4 th Quarter 2011

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  1. STATE OF ISRAELMINISTRY OF FINANCEInternational Affairs Department Economic Highlights Presentation 4th Quarter 2011 In any case of information derived from sources external to the Ministry of Finance, such sources are mentioned at the bottom of each item

  2. Table of Contents Table of Contents 1 Main Economic Indicators 2 Balances 3 International Comparisons 4 Israel in the OECD 5 International Agreements 6 Learn More 7 Contact

  3. Main Economic Indicators Economic Figures GDP and Business GDP Major GDP Components Exports of Goods and Services Main Trading Partners Gross Domestic Capital Formation Foreign Investments Unemployment and Participation Consumer Price Index Inflation Rate Israel’s Credit Ratings

  4. Economic Figures * Using a public exchange rate of 1USD=3.7NIS (2010 average) ** Estimated Additional Sources: IMF

  5. Economic Figures

  6. GDP and Business GDP Annual rate of change, constant prices, 2005 In 2010, Israel has recovered from the global economic crisis, and is back to previous years’ growth rates. In the 3rd quarter of 2011, business GDP recovered sharply.

  7. Major GDP Components Annual rate of change, constant prices, 2005 Global economic crisis

  8. Exports of Goods and Services US $ Billions, constant prices, 2005 Global economic crisis * Using a public exchange rate of 1USD=3.7NIS(2010 average)

  9. Main Trading Partners US $ Billions, 2010 * Since July 1997 the data on trade with Hong-Kong is added to the data on China Additional Sources: Central Bureau of Statistics

  10. Main Trading Partners US $ Billions, 2010 Additional Sources: Central Bureau of Statistics

  11. Gross Domestic Capital Formation As % of GDP

  12. Foreign Investments US $ Billions * 2006 is exceptional due to a large acquisition by Teva Pharmaceutical Industries Ltd.

  13. Unemployment and Participation As % of total labor force Since the 2nd quarter of 2009 unemployment is relatively decreasing, hand in hand with a relative increasein participation rate since the 1st quarter of 2010.

  14. Consumer Price Index Last 24 monthly averages, 2010=100 Additional Sources: Central Bureau of Statistics

  15. Inflation Rate Rate of change in consumer price index, yearly average

  16. Israel’s Credit Ratings

  17. Table of Contents 1 Main Economic Indicators 2 Balances 3 International Comparisons 4 Israel in the OECD 5 International Agreements 6 Learn More 7 Contact

  18. International Comparisons Gross Public Debt Budget Deficit General Government Expenditure Current Account Surplus Net Foreign Surplus Gross Tax Burden

  19. Gross Public Debt As % of GDP Since 2003, gross public debt has been on a consistent downward trend, only interrupted by the extraordinary circumstances surrounding the 2009 global economic crisis. Global economic crisis

  20. Budget Deficit As % of GDP

  21. Budget Deficit Target and execution in NIS million, current prices For the first time in its history, Israel enacted a biennial budget for the years 2009-2010. In both years, Israel came in under budget target. The proven effectiveness and functionality of the biennial budget have led the government to adopt the biennial budget for a second period through 2011-2012.

  22. General Government Expenditure As % of GDP

  23. Current Account Surplus As % of GDP

  24. Net Foreign Surplus As % of GDP * Using a public exchange rate of 1USD=3.7NIS(2010 average)

  25. Gross Tax Burden As % of GDP OECD countries average: 34.8% (2008 average) Additional Sources: OECD

  26. Table of Contents 1 Main Economic Indicators 2 Balances 3 International Comparisons 4 Israel in the OECD 5 International Agreements 6 Learn More 7 Contact

  27. International Comparisons GDP Growth Inflation Rates Israel on IMD Rankings Israel on WEF Rankings Interest Rates: Israel & the U.S. Stock Indices: NASDAQ & Tel-Aviv 100

  28. GDP Growth Israel compared to advanced economies, annual rate of change, constant prices Since 2004, Israel’s growth rate has exceeded the average growth rate of advanced economies. In 2009, as most of the world experienced a decline in GDP, Israel experienced a 0.8% growth in it’s GDP. Additional Sources: IMF

  29. Inflation Rates Rate of change in consumer price index, yearly average The Israeli economy demonstrated high stabilitycompared to other countries throughout the global economic crisis. Additional Sources: IMF

  30. Israel on IMD Rankings IMD World Competitiveness Yearbook 2011 The Institute for Management Development ranked Israel 17thout of 59 countries for 2011 (Israel was also ranked 17th in 2010) Additional Sources: IMD World Competitiveness Yearbook 2011

  31. Israel on IMD Rankings IMD World Competitiveness Yearbook 2011 Information technology skills Central bank policy Flexible and adaptability Entrepreneurship Additional Sources: IMD World Competitiveness Yearbook 2011

  32. Israel on IMD Rankings IMD World Competitiveness Yearbook 2011 Total expenditure on R&D (as % of GDP) Scientific research Venture capital Innovative capacity Additional Sources: IMD World Competitiveness Yearbook 2011

  33. Israel on WEF Rankings World Economic Forum Global Competitiveness Index 2011-2012 The World Economic Forum ranked Israel 22ndout of 142 countries for 2011-2012 Additional Sources: World Economic Forum Global Competitiveness Index 2011-2012

  34. Israel on WEF Rankings World Economic Forum Global Competitiveness Index 2011-2012 Quality of scientific research institutions Venture capital availability Utility patents per million population Strength of investor protection Additional Sources: World Economic Forum Global Competitiveness Index 2011-2012

  35. Israel on WEF Rankings World Economic Forum Global Competitiveness Index 2011-2012 Government procurement of advanced technology products Capacity for innovation Firm-level technology absorption University-industry collaboration in R&D Additional Sources: World Economic Forum Global Competitiveness Index 2011-2012

  36. Interest Rates: Israel & the U.S. The Bank of Israel was the first in the western world to raise interest since the outburst of the economic crisis. The rate was raised gradually from 0.5% to 3.25%. =0

  37. Stock Indices: NASDAQ & Tel-Aviv 100 Tel Aviv 100 corresponds with the NASDAQ to current events, with relatively stable reactions.

  38. Table of Contents 1 Main Economic Indicators 2 Balances 3 International Comparisons 4 Israel in the OECD 5 International Agreements 6 Learn More 7 Contact

  39. Israel in the OECD Israel was invited as a full member in the OECD on May 10th, 2010, and officially joined in Sep. 10, 2010. Expenditure on R&D Real GDP Growth GDP per Capita Unemployment

  40. Expenditure on R&D As % of GDP, 2010 or latest available year Israel is 1st in the OECD in expenditure on R&D (research & development) as % of GDP, demonstrating innovation, development and creativity. Additional Sources: OECD

  41. Real GDP Growth 3-year average, end of period Israel’s 3-year average growth rate is higher then most OECD members. Additional Sources: OECD

  42. GDP per Capita U.S $, Current prices, PPP, 2010 Additional Sources: OECD

  43. Unemployment Rate 3-year average 2008-2010, or latest available period Israel’s unemployment rate is in an ongoing downtrend, reaching an historic low level of 5.5% in Q2 2011. Additional Sources: OECD

  44. Table of Contents 1 Main Economic Indicators 2 Balances 3 International Comparisons 4 Israel in the OECD 5 International Agreements 6 Learn More 7 Contact

  45. International Agreements Israel’s Free Trade Agreements Avoidance of Double Taxation Cooperation in Industrial R&D Bilateral Investment Treaties Economic Organizations

  46. Israel’s Free Trade Agreements 1985 USA QIZ Agreements 2004 Egypt 1992 EFTA Jordan 1997 Turkey 1998 1997 Canada 1999 Mexico 2000 European Union (Association Agreement) 2007 MERCOSUR More extended information is available in the Israel Ministry of Finance website

  47. Avoidance of Double Taxation Austria Denmark Ireland Belarus Estonia Italy Belgium Ethiopia Jamaica Brazil Finland Japan Bulgaria France Latvia Canada Germany Lithuania China Greece Luxembourg Czech Republic Hungary Mexico India Croatia More extended information is available in the Israel Ministry of Finance website

  48. Avoidance of Double Taxation Malta Russia Taiwan Moldova Singapore Thailand Norway Slovakia Vietnam Netherlands Slovenia Turkey Panama South Africa Ukraine Philippines South Korea United kingdom Portugal Spain Uzbekistan Poland Sweden U.S.A Romania Switzerland More extended information is available in the Israel Ministry of Finance website

  49. Cooperation in Industrial R&D North America New YorkMassachusettsMarylandVirginiaWisconsinColoradoIllinois Oregon BIRD (Foundation)Ontario CIIRDF (Foundation) Europe FranceRussia (Rusano, Skolkovo)ItalyGermanyGreeceCzech RepublicBulgariaLithuania Slovenia DenmarkHungaryTurkeyPortugalFinlandSwedenIreland * Through EUREKA (40 country Multilateral Initiative) Asia China( Shanghai, Jiangsu, Most)IndiaTaiwanSIIRD-Singapore (Foundation)KORIL-RDF-Korea (Foundation) South America ArgentinaUruguayBrazil Australia (Victoria) More extended information is available in the Israel Ministry of Finance website

  50. Bilateral Investment Treaties Cyprus Albania Hungary Argentina Czech Republic India Armenia El Salvador Kazakhstan Azerbaijan Korea Estonia Belarus Ethiopia Latvia Bulgaria Lithuania Georgia China Germany Macedonia Croatia Guatemala Moldova More extended information is available in the Israel Ministry of Finance website

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