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STATE OF ISRAEL MINISTRY OF FINANCE INTERNATIONAL AFFAIRS DEPARTMENT. ECONOMIC HIGHLIGHTS March 2011, 1 st Quarter 2011 Click to start. Note: You can return to the beginning of each chapter by clicking the emblem of Israel on the top of each slide. Contents. Economic Figures. Balances.

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STATE OF ISRAELMINISTRY OF FINANCEINTERNATIONAL AFFAIRS DEPARTMENT

ECONOMIC HIGHLIGHTS

March 2011, 1st Quarter 2011

Click to start


Contents

Note:

You can return to the beginning of each chapter by clicking the emblem of Israel on the top of each slide.

Contents

  • Economic Figures

  • Balances

  • International Comparisons

  • Israel and the OECD

  • International Treaties

  • Relevant Sites

  • Contact Us


EconomicFigures

Main Economic Indicators

GDP and Business GDP

Growth: Israel compared to the World

Major GDP Components

Exports of Goods and Services

Main Trading Partners

Foreign Investments

Unemployment & Participation Rates

Inflation Rate

Inflation Rate Worldwide

Growth of Main GDP Components 2008

BACK TO CONTENTS


Main economic indicators
Main Economic Indicators

*Current Prices, using a public exchange rate of 1$ = 3.56 NIS

** Estimated

CONTINUE

Source: Ministry of Finance, IMF


Main economic indicators1
Main Economic Indicators

CONTINUE

Source: Ministry of Finance


Main economic indicators2

Aa3/AA-

A1/A+

A2/A

A3/A-

Baa1/BBB+

Baa2/BBB

Baa3/BBB-

Main Economic Indicators

All 3 rating firms have reaffirmed Israel’s rating, without any downgrade,

during the global economic crisis in 2009.

CONTINUE

Source: Ministry of Finance


GDP and Business GDPAnnual rate of change (%), in Constant Prices

In 2010, Israel has recovered from the global In the 4th quarter of 2010, Israel

economic crisis, and is back to previous years’ experienced exceptional growth rates

growth rates

CONTINUE

Source: Ministry of Finance.


Gdp growth israel compared to advanced economies annual rate of change in constant prices
GDP GrowthIsrael compared to Advanced Economies* (Annual rate of change (%), in 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

CONTINUE

Source: Ministry of Finance


Global Economic Crisis

Major GDP Components(Annual rate of change (%), in constant prices)

In 2010, Investment in Fixed Assets and Export of Goods and Services recovered sharply, after they were contracted severely in

2009 due to the economic crisis.

CONTINUE

Source: Ministry of Finance


Exports of goods and services b

Global

Economic

Crisis

Exports of Goods and Services ($B)*

CONTINUE

* In Current Prices

Source: Ministry of Finance


2008

2009

2008

2009

Israel’s Main Trading Partners(US$ Billions)

Imports

Exports

CONTINUE

* Since July 1997 the data on trade with Hong-Kong is added to the data on China

Source: Central Bureau of Statistics


Israel’s Main Trading Partners(US$ Billions)

Exports

Imports

CONTINUE

Source: Central Bureau of Statistics


Net foreign investments in israel in billion

Global Economic Crisis

Net Foreign Investments in Israel (In $ Billion)

CONTINUE

* 2006 is exceptional due to a large acquisition by Teva Pharmaceutical Industries Ltd

Source: Ministry of Finance


Unemployment and participation as of total labor force
Unemployment and Participation (As % of Total Labor Force)

As Israel grows out of the global recession, since the 2nd quarter of 2009 unemployment is decreasing, hand in hand with an increase in participation rate since the 1st quarter of 2010.

CONTINUE

Source: Ministry of Finance


Inflation Rate (Rate of Change in CPI, yearly average)

CONTINUE

Source: Central Bureau of Statistics, Ministry of Finance


Inflation Rate Worldwide (Annual rate of change in CPI)

The Israeli economy demonstrated a high level of stability compared to other countries throughout the global economic crisis

CONTINUE

Sources: Ministry of Finance, IMF


Growth of main gdp components for previous year
Growth of Main GDP Components for Previous Year

NEXT CHAPTER: BALANCES

BACK TO CONTENTS

Source: Ministry of Finance


Balances

Gross Public Debt

Budget Deficit – Target and Execution

Budget Deficit and General Government Expenditure

Current Account and Net Foreign Debt

Gross Tax Burden

BACK TO CONTENTS


Global

Economic

Crisis

Gross Public Debt (as percentage 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

CONTINUE

Source: Ministry of Finance


Quarterly Budget Execution

Yearly Budget Execution

Yearly Budget Target

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.

CONTINUE

Source: Ministry of Finance


Budget deficit and general government expenditure
Budget Deficit and General Government Expenditure

General Government Expenditure (% of GDP)

Budget Deficit

(% of GDP)

CONTINUE

Source: Ministry of Finance


Current account balance and net foreign debt
Current Account Balance and Net Foreign Debt

Since 2003, the current account balance is positive, and is accompanied by a decrease of net foreign debt

Current Account Surplus (% of GDP)

Net Foreign Surplus*

(% of GDP)

CONTINUE

*Current Prices, using a public exchange rate of 1$ = 3.56 NIS

Source: Ministry of Finance.


Gross tax burden as of gdp
Gross Tax Burden (as % of GDP)

OECD countries average: 34.8% (2008 average)

NEXT CHAPTER: INTERNATIONAL COMPARISONS

BACK TO CONTENTS

Source: Ministry of Finance, OECD


International Comparisons

IMD World Competitiveness Yearbook

WEF Global Competitive Index

Central Bank Interest Rates: Israel and U.S.A

NASDAQ and Tel-Aviv 100 (monthly average)

BACK TO CONTENTS


IMD World Competitiveness Yearbook 2010

The Institute for Management Development ranked Israel17thout of 58 countries for 2010 (Israel was ranked 24th in 2009)

CONTINUE

Source: International Institute for Management and Development (IMD), World Competitiveness Yearbook 2010


Resilience of the economy

Central bank policy

Financial skills

Entrepreneurship

IMD World Competitiveness Yearbook 2010

CONTINUE

Source: International Institute for Management and Development (IMD), World Competitiveness Yearbook 2010


Venture capital

Total expenditure on R&D

Scientific research

Skilled labor

IMD World Competitiveness Yearbook 2010

CONTINUE

Source: International Institute for Management and Development (IMD), World Competitiveness Yearbook 2010


WEF Global Competitiveness Index 2010-2011

The World Economic Forum ranked Israel24thout of 139 countriesfor 2010-2011

CONTINUE

Source: World Economic Forum, Global Competitiveness Index, 2010-2011


Quality of scientific research institutions

Utility patents per million population

Strength of investor protection

Availability of latest technologies

WEF Global Competitiveness Index 2010-2011

CONTINUE

Source: World Economic Forum, Global Competitiveness Index, 2010-2011


Legal rights index

Capacity for innovation

Nature of competitive advantage

Firm-level technology absorption

WEF Global Competitiveness Index 2009-2010

CONTINUE

Source: World Economic Forum, Global Competitiveness Index, 2010-2011


Central bank interest rates israel and u s a
Central Bank Interest Rates: Israel and U.S.A

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 3.0%

Bank of Israel Rate (BOI)

U.S. Federal Funds Rate

CONTINUE

Source: Bank of Israel (BOI), Federal Reserve


Nasdaq tel aviv 100 monthly average
NASDAQ & Tel Aviv 100 (monthly average)

Tel Aviv 100 corresponds with the NASDAQ to current events

NEXT CHAPTER: ISRAEL AND THE OECD

BACK TO CONTENTS

Source: Ministry of Finance


Israel and the OECD

Israel was invited as a full member in the OECD on May 10th, 2010, and officially

joined in September 10th, 2010.

Expenditure on R&D

Real GDP Growth

GDP per Capita

Unemployment

BACK TO CONTENTS


Expenditure on R&D(as percentage of GDP, 2008)

Israel is ranked1st of all OECD countries by expenditure on R&D (research & development)

as percentage of GDP (4.864 %), demonstrating innovation, development and creativity.

CONTINUE

Source: OECD


Real GDP Growth(3-year average at end of period)

Israel’s 3-year average growth rate is higher then most OECD members.

For Israel’s year-on-year graph, see

slide no.7

CONTINUE

Source: OECD


GDP per capita (current prices in US$, current PPP’s, 2008)

Although no final data of the years 2009-2010 exist, it is reasonable to assume a diminishing gap between Israel and the OECD average

For Israel’s adjusted PPP GDP Per Capita, see

slide no.4

CONTINUE

* Estimated

Source: OECD


Unemployment rate average 2006 2008 or latest available period
Unemployment Rate(Average 2006-2008 or latest available period)

Israel’s unemployment grew mildly compared with some OECD members during 2009, with the global economic crisis in background.

For Israel’s unemployment, see

slide no.14

NEXT CHAPTER: INTERNATIONAL TREATIES

BACK TO CONTENTS

Source: Ministry of Finance, OECD


International treaties

Israel’s Free Trade Agreements

Avoidance of Double Taxation Agreements

Cooperation in Industrial R&D Agreements

Bilateral Investment Treaties

International Organization Memberships

BACK TO CONTENTS


Israel s free trade agreements
Israel’s Free Trade Agreements

1985

USA

QIZ Agreements

Egypt (2004)

Jordan (1998)

1992

EFTA

1997

Turkey

1997

Canada

1999

Mexico

2000

European Union (Association Agreement)

2007

MERCOSUR (Argentina not yet in force)

CONTINUE

Source: Ministry of Finance


Austria

Croatia

Hungary

Belarus

Denmark

India

Belgium

Estonia

Ireland

Brazil

Ethiopia

Italy

Bulgaria

Finland

Jamaica

Canada

France

Japan

China

Germany

Latvia

Czech Republic

Greece

Lithuania

Avoidance of Double Taxation Agreements

CONTINUE

Source: Ministry of Finance


Russia

Luxembourg

Taiwan

Mexico

Singapore

Thailand

Moldova

Slovakia

Vietnam

Norway

Slovenia

Turkey

Netherlands

South Africa

Ukraine

Philippines

South Korea

United kingdom

Portugal

Spain

Uzbekistan

Poland

Sweden

U.S.A

Romania

Switzerland

Avoidance of Double Taxation Agreements

CONTINUE

Source: Ministry of Finance


Cooperation in industrial r d agreements

Austria

India

Sweden

Belgium

Ireland

United kingdom

Canada

Italy

U.S.A

China

Korea

Victoria(Australia)

Finland

Netherlands

Czech Republic

France

Portugal

Germany

Singapore

Hong Kong

Spain

Cooperation in Industrial R&D Agreements

CONTINUE

Source: Ministry of Finance


Bilateral investment treaties
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

CONTINUE

* See comments in the Bilateral Investments Treaties page in our website

Source: Ministry of Finance


Bilateral Investment Treaties

Mongolia

South Africa*

Montenegro

Thailand

Turkey

Peru*

Poland

Turkmenistan

Romania*

Ukraine*

Serbia

Uzbekistan

Slovakia

Vietnam*

Slovenia*

CONTINUE

* See comments in the Bilateral Investments Treaties page in our website

Source: Ministry of Finance


Main international economic organizations membership
Main International Economic Organizations Membership:

  • Israel is a member in leading international economic organizations:

  • United Nations Organizations

  • United Nations Agencies

  • World Bank Group

  • International Monetary Fund

  • OECD

  • Regional Organizations

  • Inter-Governmental Organizations

NEXT CHAPTER: RELEVANT SITES

BACK TO CONTENTS

Source: Ministry of Finance


Relevant Sites

Ministry of Finance

Bank of Israel

Central Bureau of Statistics

Israeli Government Portal

Israel Securities Authority

Ministry of Industry, Trade and Labor

CONTACT US

BACK TO CONTENTS


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Visit our Website

WE WELCOME YOUR FEEDBACK

Mr. Roni Hershkovitz

Director

Overseas Economic Information

International Affairs Department

Ministry of Finance

Jerusalem

Israel

Mr. Assaf Luxembourg

Overseas Economic Information

International Affairs Department

Ministry of Finance

Jerusalem

Israel

START OVER


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