GDP reading: New Zealand’s GDP expanded 1.1% on a seasonally adjusted quarter-on-quarter basis in Q3, following a 1.0% contraction in...
Economic Growth in Israel
Israel's economy recorded an average growth rate of 3.5% in the decade to 2024, compared to the 2.1% average for Middle East & North Africa. In 2024, real GDP growth was 0.7%. For more GDP information, visit our dedicated page.
Israel GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Israel from 2014 to 2025.
Source: Macrobond.
Israel GDP Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Economic Growth (Real GDP, ann. var. %) | -1.6 | 9.3 | 6.2 | 1.9 | 0.6 |
| GDP (USD bn) | 411 | 490 | 525 | 511 | 542 |
| GDP (ILS bn) | 1,415 | 1,582 | 1,764 | 1,883 | 2,006 |
| Economic Growth (Nominal GDP, ann. var. %) | -0.6 | 11.8 | 11.5 | 6.7 | 6.6 |
Economy rebounds in Q3 2025
GDP reading surprises to the upside: Israel's GDP expanded 12.4% in seasonally adjusted quarter-on-quarter annualized (SAAR) terms in Q3, following a 4.3% contraction in the prior quarter and nearly double market expectations. The economy benefited from the normalization of activity following the brief war with Iran in Q2, and is now larger than it was before conflict with Hamas began in Q4 2023.
Broad-based expansion: Relative to the previous period's data, figures in Q3 improved for private consumption (+23.0% in seasonally adjusted quarter-on-quarter annualized terms vs -5.3% in Q2), government consumption (+4.4% vs 0.0% in Q2), fixed investment (+36.9% vs -11.1% in Q2), exports of goods and services (+23.3% vs -5.2% in Q2) and imports of goods and services (+16.5% vs +8.0% in Q2).
Panelist insight: On the outlook, Goldman Sachs analysts said: “We expect sequential GDP growth to decline in the coming quarters before picking up again in the middle of next year. This is due to [Q3]'s print in part reflecting a recovery from the war against Iran in June and also because it is quicker to consolidate defence expenditures than to increase investment, and for labour to be effectively reallocated into the private sector.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Israeli GDP projections for the next ten years from a panel of 22 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Israeli GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Israeli GDP projections.
Want to get access to the full dataset of Israeli GDP forecasts? Send an email to info@focus-economics.com.
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