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STATE OF ISRAEL MINISTRY OF FINANCE INTERNATIONAL AFFAIRS DEPARTMENT. ECONOMIC HIGHLIGHTS. May 6 th , 2007. Contents:. Economic Figures……. Balances……………... International comparisons and additional data………. 3. 18. 24. Economic Figures. Economic Figures.

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slide1

STATE OF ISRAELMINISTRY OF FINANCEINTERNATIONAL AFFAIRS DEPARTMENT

ECONOMIC HIGHLIGHTS

May 6th, 2007

contents
Contents:
  • Economic Figures…….
  • Balances……………...
  • International comparisons and additional data……….

3

18

24

slide4

Economic Figures

Israel’s Economy:Main Characteristics

  • Export Oriented Growth
  • Rapid Development of Technology &

High-Tech Industries

  • Entrepreneurial Culture
  • Supportive Environment for Business
  • Investment & R&D Incentives

4

main economic indicators and forecast

Economic Figures

Main Economic Indicators and forecast

Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

* Using the NIS estimate by the Ministry of Finance, Multiplied by Bank of Israel’s average US$-NIS rate for 2007.

5

gdp and gdp per capita annual change in constant prices

Economic Figures

GDP and GDP per Capita (Annual % Change, in Constant Prices)

6

Source: Central Bureau of Statistics, Ministry of Finance

major gdp components annual change in constant prices

Economic Figures

Major GDP Components(Annual % Change, in Constant Prices)

7

Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

gdp growth and exports growth cumulative rate of growth by period

Economic Figures

GDP Growth and Exports Growth(Cumulative Rate of Growth by Period)

8

Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

exports of goods and services b

Economic Figures

Exports of Goods and Services (B$)

9

Source: Central Bureau of Statistics

exports of goods by region 2006 exc diamonds

Economic Figures

Exports of Goods by Region 2006(exc. Diamonds)

10

Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

structure of industrial exports

Economic Figures

Structure of Industrial Exports

25%

25%

26%

27%

23%

24%

27%

26%

35%

75%

75%

74%

77%

73%

76%

74%

73%

65%

11

Jan-Mar s.a. at annual rate.*

imports of goods by region 2006 exc diamonds

Economic Figures

Imports of Goods by Region 2006(exc. Diamonds)

12

Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

foreign investments b

Economic Figures

Foreign Investments(B$)

13

Source: Ministry of Finance

new employed persons in 2006 change in israeli employed persons in thousands

Economic Figures

New Employed Persons in 2006(Change in Israeli Employed Persons, in Thousands)

15

Source: Ministry of Finance

slide18

Balances

Back to contents

budget deficit of gdp

Balances

Budget Deficit(% of GDP)

Budget proposal

19

Source: Ministry of Finance, April 2007

current account of gdp

Balances

Current Account(% of GDP)

20

Source: Bank of Israel

net foreign debt of gdp

Balances

Net Foreign Debt(% of GDP)

21

Source: Ministry of Finance

gross tax burden of gdp

Balances

Gross Tax Burden(% of GDP)

23

Source: Ministry of Finance

central bank interest rates israel vs u s a

Additional data

Central Bank Interest RatesIsrael vs. U.S.A (%)

Currently:

5.25%

Bank of Israel Rate

Currently:

3.75%

Federal Reserve Rate

25

Source: Bank of Israel, Federal Reserve

israel s credit rating 1992 2007

Additional data

A1/A+

A2/A

A3/A-

Baa1/BBB+

Baa2/BBB

Baa3 /BBB-

Israel’s Credit Rating 1992-2007

27

Source: Credit Rating Agencies, Accountant General

global competitiveness index 2006 israel ranks 15 out of 125 countries 2005 rank was 23

Additional data

Global Competitiveness Index, 2006Israel Ranks 15 Out of 125 Countries (2005 Rank was 23)

1

4

6

8

10

15

18

21

24

28

34

42

47

48

58

59

28

Source: World Economic Forum, GCI 2006

business competitiveness index 2006 israel ranks 19 out of 121 countries 2005 rank was 22

Additional data

Business Competitiveness Index, 2006Israel Ranks 19 Out of 121 Countries (2005 Rank was 22)

1

2

5

8

12

16

19

22

25

27

30

36

46

49

55

64

29

Source: World Economic Forum, GCI 2006

network readyness score 2006

Additional data

Network Readyness score, 2006

5.71 (1)

5.58 (5)

5.54 (7)

5.45 (9)

5.35 (11)

5.27 (14)

5.22 (16)

5.14 (18)

4.99 (23)

4.48 (28)

4.35 (32)

4.19 (38)

3.98 (48)

3.86 (52)

30

Source: World Economic Forum, GCI 2006

israel s free trade agreements

Additional data

USA (1985)

EFTA (1992)

Jordan (1995):Bilateral Trade Agreement

Turkey (1997)

Mexico (1999)

European Union – Association Agreement 2000

Romania (2000)

Bulgaria (2002)

Israel’s Free Trade Agreements

Canada (1997)

31

avoidance of double taxation agreements

Additional data

Avoidance of Double Taxation Agreements

Also:

Austria, Ireland, Italy,Latvia,Lithuania, Switzerland,Ukraine, United Kingdom, and Uzbekistan.

32

cooperation in industrial r d agreements

Additional data

Cooperation in Industrial R&D Agreements

Austria

India

Sweden

Belgium

Ireland

UK

Canada

Italy

USA

China

Korea

Finland

Netherlands

France

Portugal

Germany

Singapore

Hong Kong

Spain

33

protection of investment agreements

Additional data

Albania

Argentina

Armenia

Belarus

Bulgaria

Croatia

Cyprus

Czech Republic

El-Salvador

Estonia

Georgia

Germany

Hungary

India

Kazakhstan

Korea

Protection of Investment Agreements

34

slide35

Additional data

Latvia

Lithuania

Moldova

Poland

Romania

Slovakia

Slovenia

Thailand

Turkey

Turkmenistan

Ukraine

Uruguay

Uzbekistan

QIZ Agreement

Egypt

Jordan

Protection of Investment Agreements(con)

35

international organization memberships

Additional data

International Organization* Memberships:

BIS | BSEC (observer) | CE (observer)

CERN (observer) |EBRD |FAO | IADB | IAEA

IBRD | ICAO | ICC| ICCt (signatory) | ICFTU

IDA | IFAD | IFC | IFRCS (observer) | ILO | IMF

IMO | Interpol | IOC | IOM | ISO | ITU | OAS (observer)

OPCW (signatory) | OSCE (partner) | PCA | UN

UNCTAD |UNECE | UNEP | UNESCO | UNHCR

UNIDO | UPU | WB |WCO | WFP | WHO | WIPO | WMO

WToO | WTrO |WTO |MIGA

36

*Economic Organizations

relevant sites
Relevant Sites

Government Institutes:

Bank of Israel

Central Bureau of Statistics

Israeli Government Portal

Ministry of Finance

Israel Securities Authority

Economic News:

“The Marker”

“Globes”

32

we welcome your feedback
We welcome your feedback:

Contact:

Uri Geva

International Affairs Department

Ministry of Finance, Jerusalem, Israel

urige@mof.gov.il