Countries
Israel
Key Economic Indicators
$570.89 billion
$57,236
0.87%
3.07%
3.49%
$540.38 billion (2024 est.)
59.6% of GDP (2019 est.)
$15.48 billion
Economic Overview
high-income, technology- and industrial-based economy; economic contraction and fiscal deficits resulting from war in Gaza; labor force stabilizing following military reservist mobilization; high-tech industry remains resilient while construction and tourism among hardest-hit sectors
All Economic Data
Agricultural products
milk, chicken, potatoes, tomatoes, tangerines/mandarins, bananas, eggs, avocados, beef, carrots/turnips (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
2.6% of household expenditures (2023 est.)
On food:
15.8% of household expenditures (2023 est.)
Budget
Expenditures:
$188.905 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$162.524 billion (2023 est.)
Currency
code:
ILS
name:
Israeli new shekel (ILS) [₪]
Current account balance
$15.48 billion
Current account balance 2022:
$17.104 billion (2022 est.)
Current account balance 2023:
$18.604 billion (2023 est.)
Current account balance 2024:
$16.713 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
new Israeli shekels (ILS) per US dollar -
Exchange rates 2020:
3.442 (2020 est.)
Exchange rates 2021:
3.23 (2021 est.)
Exchange rates 2022:
3.36 (2022 est.)
Exchange rates 2023:
3.667 (2023 est.)
Exchange rates 2024:
3.7 (2024 est.)
Exports
$153.66 billion
Exports 2022:
$164.407 billion (2022 est.)
Exports 2023:
$154.638 billion (2023 est.)
Exports 2024:
$153.248 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
integrated circuits, diamonds, broadcasting equipment, medical instruments, refined petroleum (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
USA 29%, China 10%, Ireland 6%, Germany 4%, Hong Kong 4% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$14.78 billion
GDP - composition, by end use
Exports of goods and services:
30.4% (2023 est.)
Government consumption:
22.3% (2023 est.)
Household consumption:
48% (2023 est.)
Imports of goods and services:
-27.6% (2023 est.)
Investment in fixed capital:
24.4% (2023 est.)
Investment in inventories:
1.7% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1.3% (2024 est.)
Industry:
17.3% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
72.5% (2024 est.)
GDP (official exchange rate)
$540.38 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$54,177
Gini Index coefficient - distribution of family income
39 (2016)
Gini Index coefficient - distribution of family income 2021:
37.9 (2021 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$535.83 billion
GNI per capita
$52,910
Gross domestic investment
23 % of GDP
Household income or consumption by percentage share
Highest 10%:
26.6% (2021 est.)
Lowest 10%:
2% (2021 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$140.59 billion
Imports 2022:
$153.388 billion (2022 est.)
Imports 2023:
$140.432 billion (2023 est.)
Imports 2024:
$140.438 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
cars, diamonds, crude petroleum, broadcasting equipment, garments (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
China 17%, USA 12%, Germany 7%, Turkey 6%, Italy 4% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
-4.2% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
high-technology products (including aviation, communications, computer-aided design and manufactures, medical electronics, fiber optics), wood and paper products, potash and phosphates, food, beverages, and tobacco, caustic soda, cement, pharmaceuticals, construction, metal products, chemical products, plastics, cut diamonds, textiles, footwear
Inflation rate (consumer prices)
3.07%
Inflation rate (consumer prices) 2022:
4.4% (2022 est.)
Inflation rate (consumer prices) 2023:
4.2% (2023 est.)
Inflation rate (consumer prices) 2024:
3.1% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
4.71 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
4.82 million persons
Labor force - by occupation
agriculture:
0.76%
industry:
15.15%
services:
84.09%
Public debt
Public debt 2019:
59.6% of GDP (2019 est.)
Real GDP (purchasing power parity)
$570.89 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$459.698 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$468.095 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$472.177 billion (2024 est.)
Real GDP growth rate
0.87%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
6.3% (2022 est.)
Real GDP growth rate 2023:
1.8% (2023 est.)
Real GDP growth rate 2024:
0.9% (2024 est.)
Real GDP per capita
$57,236
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$48,100 (2022 est.)
Real GDP per capita 2023:
$47,500 (2023 est.)
Real GDP per capita 2024:
$47,300 (2024 est.)
Remittances
$952.3 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0.2% of GDP (2022 est.)
Remittances 2023:
0.2% of GDP (2023 est.)
Remittances 2024:
0.2% of GDP (2024 est.)
Reserves of foreign exchange and gold
$214.54 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$194.231 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$204.661 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$214.544 billion (2024 est.)
Revenue (excl grants)
30 % of GDP
Tax revenue
22 % of GDP
Taxes and other revenues
22.1% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
3.49%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
3.7% (2022 est.)
Unemployment rate 2023:
3.6% (2023 est.)
Unemployment rate 2024:
3.2% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
6% (2024 est.)
Male:
6.2% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
6.1% (2024 est.)
World Bank Indicators
Currency
Icelandic krona (ISK) kr (2025)
Gini Index
26.10 (2017)
Languages
Icelandic (2025)
Economic Rankings
Reserves
#18
GDP (Nominal)
#27
GDP per Capita
#35
Exports
#36
Imports
#38
GDP (PPP)
#48
GDP Growth Rate
#58
Gini Index
#72
Unemployment Rate
#132
Inflation Rate
#170
Quick Facts
Industries
high-technology products (including aviation, communications, computer-aided design and manufactures, medical electronics, fiber optics), wood and paper products, potash and phosphates, food, beverage
Agricultural products
milk, chicken, potatoes, tomatoes, tangerines/mandarins, bananas, eggs, avocados, beef, carrots/turnips (2023)
Labor force
4.71 million (2024 est.)
Exports - partners
USA 29%, China 10%, Ireland 6%, Germany 4%, Hong Kong 4% (2023)
Imports - partners
China 17%, USA 12%, Germany 7%, Turkey 6%, Italy 4% (2023)
Exchange rates
new Israeli shekels (ILS) per US dollar -
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