ECONOMIC HIGHLIGHTSECONOMIC HIGHLIGHTS22ndnd QUARTER 2008 QUARTER 2008
STATE OF ISRAELSTATE OF ISRAELMINISTRY OF FINANCEMINISTRY OF FINANCE
INTERNATIONAL AFFAIRS DEPARTMENTINTERNATIONAL AFFAIRS DEPARTMENT
July 2008July 2008 International Affairs DepartmentInternational Affairs Department
ContentsContents
Note:
You can return to the beginning of each chapter by clicking these symbols on the top of each slide.
Economic FiguresEconomic Figures
BalancesBalances
International ComparisonsInternational Comparisons
Israel and the OECDIsrael and the OECD
International TreatiesInternational Treaties
Relevant SitesRelevant Sites
Main CharacteristicsMain Characteristics
Israel celebrating 60Israel celebrating 60
Israel’s Economy:Israel’s Economy:
• Highly Educated Population.Highly Educated Population.
• Rapid Development of Technology & Rapid Development of Technology &
High-Tech Industries.High-Tech Industries.
• Entrepreneurial Culture. Entrepreneurial Culture.
• Open Economy.Open Economy.
• High Trade intensity.High Trade intensity.
Main CharacteristicsMain Characteristics
Israel Celebrating 60
GDP Per Capita
Tourist Arrivals and Departures of Israelis abroad
Public Debt
Students in Higher Education Institution
Investment in the total knowledge: Higher Education, Software and R&D
Press for desired slide or continue:
Back to Contents
Population of Israel5
6
7
8
9
10
Population of Israel*
1949 - 2007
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
Israel’s Current Population: 7,282,000Israel’s Current Population: 7,282,000
5
*End of Year.
Source: Central Bureau of Statistics, Ministry of Finance
GDP Per Capita* 1950 -2007
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005
NIS
GDP Business GDP
The resources available to Israel in 2007 - from local production The resources available to Israel in 2007 - from local production and imports – are 38 times greater than they were in 1950and imports – are 38 times greater than they were in 1950..
*(Constant Prices of 2005)
Source: Central Bureau of Statistics 6
Public Debt (% of GDP) 1950 - 2007
Source: Central Bureau of Statistics
0
50
100
150
200
250
300
Since 1984, The Public Debt has shown a downward trendSince 1984, The Public Debt has shown a downward trend
7
Tourist Arrivals and Departures of Israelis abroad (1950 – 2007)
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005
Th
ou
sa
nd
s
Tourists
Israelis
During the 1950’s, an annual average of 47,000 visitors entered During the 1950’s, an annual average of 47,000 visitors entered IsraelIsrael..
1.51.5 Million tourist entries have been registered Million tourist entries have been registered in the first half of 2008in the first half of 2008..
Source: Central Bureau of Statistics 8
Students in Higher Education Institutions (1948 /49 – 2007 /08)
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
Bachelor's Degree (Universities) Master's degree (Universities) P.H.D (Universities)
Bachelor's Degree (Colleges) Master's Degree (Colleges)
In 1948, 208 students received an academic degree in Israel. In 1948, 208 students received an academic degree in Israel. In 2006 – almost 53,000In 2006 – almost 53,000..
Source: Central Bureau of Statistics9
Investment in total knowledge: Higher Education, Software and R&D (% of GDP, 2002)
0.6
1.1
1.1
1.0
2.1
2.1
2.3
1.9
2.2
1.5
2.5
1.6
2.0
3.1
2.5
2.5
2.5
3.4
2.7
4.1
4.8
0.7
0.8
0.8
0.9
0.8
1.1
0.7
1.4
0.7
1.4
1.1
1.3
1.3
1.6
1.4
1.5
1.8
1.8
0.8
0.6
1.0
0.9
0.7
0.6
0.7
0.9
0.8
0.7
1.1
1.7
0.7
1.4
1.3
1.9
1.1
2.2
0.9
1.2
1.9
2.3
2.3
2.7
3.4
3.7
3.7
3.7
3.8
3.8
3.9
4.1
4.8
5.1
5.2
5.4
5.8
6.0
6.7
6.8
7.11.1
0 1 2 3 4 5 6 7 8
Greece
Italy
Ireland
Spain
Austria
EU (average)
France
Britain
Belgium
Norway
Germany
Australia
Canada
Japan
OECD (average)
Denmark
Korea
Finland
U.S.A
Sweden
Israel
R&D
Software
Higher Education
Israel is the world Israel is the world leader in the leader in the
amount of venture amount of venture capital invested in capital invested in
high- tech high- tech industries, relative industries, relative
to GDPto GDP..
Source: Central Bureau of Statistics10
Economic Figures
GDP and GDP per Capita
Major GDP Components
Growth: Israel compared to the World
Exports of Goods and Services
Exports of Goods by Region
Imports of Goods and Services
Imports of goods by Region
Foreign Investments
Unemployment & Participation Rates
Inflation Rate
Estimates for 2008
Press for desired slide or continue:
Back to Contents
Main Indicators and Forecast12-13
14
15
16
17
18
19
20
22
23
24
26
Main Trading Partners21
Inflation Rate Worldwide25
*Using public exchange rate. *** Source: OECD.
** In current prices
Main Economic Indicators and Forecast
Criteria20032004200520062007
GDP (current prices in $B)*116123.6131.2142.3161.9
GDP Real Growth Rate (%)2.3%5.2.%5.3%5.2%5.3%
GDP per Capita
(PPP adjusted)***$26,476$28,169$25,762
GDP per Capita Growth Rate
(%, Current prices)0.4%3.4%3.5%3.4%3.4%
Exports (Goods & Services)** $B*
(As Percentage of GDP)
43.6
(37.6%)
52.7
(42.6%)
57.6
(43.9%)
62.9
(44.2%)
71.5
(44.2%)
Imports (Goods & Services)** $B*
(As Percentage of GDP)44.5
(38.4%)52.3
(42.3%)57.6
(43.9%)62.0
(43.6%)73.6
(45.5%)
Unemployment Rate (%)10.7%10.4%9.0%8.4%7.3%
12
Criteria20032004200520062007Total Gross Debt (Percentage of GDP)101.7%99.9%95.9%86.7%80.8%Government Expenditure
(Percentage of GDP)51.2%48.1%46.3%45.6%45.1%
Current Account (% of GDP)1.2%2.4%3.3%6.0%3.2%Inflation Rate ( CPI, end of year)-1.9%1.2%2.4%-0.1%3.4%Credit Rating
( Long-term Foreign Bonds )Moody’s: A1
(Stable)S&P: A
(Positive)Fitch: A(Stable)
About Credit Rating: The government’s credit rating affects banks, companies and financial bodies in the market. The rating creates a “ceiling” which acts as a reference to their bond pricing. Credit rating indicates the macro-economic status of an economy and affects foreign investors’ decisions whether to invest in the market.
Recently Moody’s Ratings have raised Israel’s foreign currency credit rating from ‘A2’ to ‘A1’ and local currency credit rating from ‘A2’ to ‘A1’ (Both: Stable).
Source: Ministry of Finance, Central Bureau of Statistics
Main Economic Indicators and Forecast (con.)
13
Source: Central Bureau of Statistics, Ministry of Finance
8.9
6.1
-0.4
-2.7
-0.6
-2.6
2.3
0.4
5.2
3.4
5.3
3.5
5.2
3.4
5.3
3.4
-5.0
-3.0
-1.0
1.0
3.0
5.0
7.0
9.0
2000 2001 2002 2003 2004 2005 2006 2007
GDP GDP per Capita
GDP and GDP per Capita (Annual rate of change (%), in Constant Prices)
Growth forecasts for 2008 : 4.2%Growth forecasts for 2008 : 4.2%
14
GDP GrowthIsrael compared to Advanced Economies* (Annual rate of change (%), in constant prices)
1.3%
-0.4%
1.6%
-0.6%
2.0%2.3%
3.2%
5.2%
2.5%
5.3%
3.1%
5.2%
2.6%
5.3%
1.7%
4.2%
1.7%
3.5%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
2001 2002 2003 2004 2005 2006 2007 2008 2009
World Growth Israel Growth
* (Weighted average: US - 44%, Euro area - 37%, Japan - 4%, UK - 8%, Asian Newly Industrialized countries - 7%)
Source: Ministry of Finance, Israel.
Since 2003, Israel’s growth rate has exceeded the average Since 2003, Israel’s growth rate has exceeded the average growth rate of advanced economiesgrowth rate of advanced economies
15
1.2
5.0
-6.1
8.1
5.6
-2.6
2.5
18.2
3.93
10.5
4.3 4.5
2.3
5.35.9
6.8
2.6
13.1
8.4
-8
-3
2
7
12
17
2003 2004 2005 2006 2007
Private Consumption Government Consumption
Investment in Fixed Assets Exports of Goods and Services
Major GDP Components(Annual rate of change (%), in constant prices)
Source: Central Bureau of Statistics, Ministry of Finance 16
Source: Central Bureau of Statistics
Exports of Goods and Services ($B)
30.2
13.4
36.7
16
40.1
17.4
43.7
19.3
50.4
21.1
0
10
20
30
40
50
60
70
80
2003 2004 2005 2006 2007
Goods Services
17
Exports of Goods by Region(Excluding diamonds)
Source: Central Bureau of Statistics*Rest of Europe Includes E.F.T.A . Countries (Norway, Switzerland, Liechtenstein and Iceland)
2006 2007
North America
30.5%
Asia15%
European Union34.5%
Rest of Europe*
6.5%
Africa3%
Other11%
Africa3%
Other8%
Asia15.1%
Rest of Europe*6.8%
European Union32.9%
North America37.5%
(USA: 31.2%)
18
)USA: 28%(
Imports of Goods and Services (B$)
33.3
11.2
39.5
12.8
43.8
13.7
47.1
15
55.8
17.9
0
10
20
30
40
50
60
70
80
2003 2004 2005 2006 2007
Goods Services
Source: Central Bureau of Statistics, Ministry of Finance
30% growth in vehicle imports in 200730% growth in vehicle imports in 2007
19
Imports of Goods by Region
(excluding Diamonds)
Source: Central Bureau of Statistics
*Rest of Europe Includes E.F.T.A . Countries (Norway, Switzerland, Liechtenstein and Iceland)
Africa0.7%
Other 16.6%
Asia19%
Rest of Europe*
9.9%
European Union36.9%
North America
16.9%(USA: 13.4)
Rest of Europe*
9.3%
Africa 0.72%
Asia 20.7%
North America
15.9%
European Union 35.5%
Other 17.8%
(USA: 14.9%)
2006
2007
20
6.9
9.7
3.5
1.9
3.5
0.9
2.1
1.6
2.3
1.2
1.8
1.6
1.6
1.2
1.5
1.2
1.7
0.7
1.3
1
0
2
4
6
8
10
12
14
16
18
USAGermany
ChinaThe Netherlands
ItalyUK Turkey
France
JapanBelgium
16.6
5.5
4.4 3.7 3.5 3.4 2.8 2.7 2.4 2.3
5.2
10
3.2
1.7
2.4
0.8
1.8
1.3
1.9
1
1.6
1.4
1.30.8
1.31.2
1.3 1.20.8
0
2
4
6
8
10
12
14
16
0.7
Israel’s Main Trading Partners(US$ Billions, excluding diamonds)
Source: Central Bureau of Statistics
2006
2007
21
EXPORT
IMPORT
15.2
4.9
3.2 3.1 2.9 3.02.1 2.5 2.0 2.0
Foreign Investments (B$)
Source: Ministry of Finance
1.7
4.53.1
9.6
5.1
12.3
3.6 4.1
1.73.2 3.9
5.3
2
9.2
4.8
9.2
14.7
25.8
10.3
13.6
0
5
10
15
20
25
30
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Direct Investments
Total Investments
22
In July 2008, the Norwegian pension fund “Global” decided In July 2008, the Norwegian pension fund “Global” decided to invest over half a billion euros in Israel.to invest over half a billion euros in Israel.
Unemployment and Participation (As % of Total Labor Force)
Source: Central Bureau of Statistics
9.2%
8.9% 8.9% 8.9%8.8% 8.8%
6.30%
7.5%
8.2% 7.8% 7.8%
7.2%
6.7%54.9%
55.1%55.2%
55.7%
55.5%
55.7%
56.1%
56.5%
56.1%
55.5%
55.7%
56.5%56.6%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
2005Q1
Q2 Q3 Q4 2006Q1
Q2 Q3 Q4 2007Q1
Q2 Q3 Q4 2008Q1
54.5%
55.0%
55.5%
56.0%
56.5%
57.0%
Unemployment Rate
Participation in the Labor Force
The Participation Rate in the Labor Force peaked at 56.6%.The Participation Rate in the Labor Force peaked at 56.6%.
23
Inflation Rate (Rate of Change in CPI, end of year)
Source: Central Bureau of Statistics, Ministry of Finance
1.3% 0.0% 1.4%
6.5%
-1.9%
1.2%
2.4%
-0.1%
3.4%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
7%
1999 2000 2001 2002 2003 2004 2005 2006 2007 *
After a 1.5% increase in April and 0.6% in May, CPI inAfter a 1.5% increase in April and 0.6% in May, CPI inJune 2008 grew by 0.1%.June 2008 grew by 0.1%.
24
Inflation Rate Worldwide (Rate of Change in CPI, end of 2007)
The Bank of Israel has raised its interest rate to 3.75%, facing a The Bank of Israel has raised its interest rate to 3.75%, facing a rising CPI in the second quarter of 2008.rising CPI in the second quarter of 2008.
25
0%1%2%3%4%5%6%7%8%9%
3.4%
Sources: Central Bureau of Statistics, OECD
Criteria
Real GDP+ 4.2%
Business GDP+ 4.9%
Exports+ 6.4%
Private Consumption+ 4.6%
Public Consumption+ 2.0%
Investment in Fixed Assets+ 7.3%
Source: Ministry of Finance
Growth of Main GDP Components 2008
2008 Projection
26
Balances
Budget Deficit;
Current Account;
Net Foreign Debt
General Government Expenditure
Gross Public Debt
Gross Tax Burden
Back to Contents
Press for desired slide or continue:
28
29
30
31
Gross Public Debt (as percentage of GDP)
Source: Ministry of Finance
99.6%
102.0%100.7%
97.0%
86.7%
80.8%
80%
85%
90%
95%
100%
105%
2002 2003 2004 2005 2006 2007
Since 2003, the gross public debt has been on a downward trend.Since 2003, the gross public debt has been on a downward trend.
28
Source: Ministry of Finance
Budget Deficit and General Government Expenditure
0.00% 1.00% 2.00% 3.00% 4.00% 5.00%
2007
2006
2005
2004
2003
2002
2001
2000
1999
29
Budget DeficitBudget Deficit
0.00%1.00%2.00%3.00%4.00%5.00%6.00%
2007
2005
2003
2001
1999
Government ExpenditureGovernment ExpenditureBoth Government Both Government expenditure and budget expenditure and budget
deficit have been deficit have been decreasing since 2003decreasing since 2003
Tax revenues up byTax revenues up by 6.7% in 2007 6.7% in 2007
Current Account and Net Foreign Debt
Source: Bank of Israel
-1.3% -0.6%1.2%
2.4%
3.3%
6.0%
3.2%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
2001 2002 2003 2004 2005 2006 2007
In 2003, current account turned positive, In 2003, current account turned positive, conversely with the decrease of the net foreign debt.conversely with the decrease of the net foreign debt.
Current Account
Net Foreign Debt
2.8%0.1%
-2.3%
-5.7%-8.2%
-15.5%
-22.7%-25.2%
-30%
-25%
-20%
-15%
-10%
-5%
0%
5%
2000 2001 2002 2003 2004 2005 2006 2007
30
Source: Ministry of Finance, OECD *As of 2005
Gross Tax Burden (as % of GDP)
Tax burden has been in the vicinity of OECD average since 2003Tax burden has been in the vicinity of OECD average since 2003
37.1%
38.1% 38.1%
37.5%
36.4% 36.4% 36.4%
36.8%
37.3%
1999 2000 2001 2002 2003 2004 2005 2006 2007
31
- - - OECD countries average: 36.2%*
International comparisons
and additional data
Capital Raised by Israeli Venture Capitals
Central Bank Interest Rates
NASDAQ and Tel Aviv 100 Indices
Israel’s Credit Rating
Global Competitiveness Index
Global Competitiveness Index: Selected Issues
Business Competitiveness Index ;Network Readiness Index
Figures from Tel Aviv Stock Exchange
Press for desired slide or continue:
Back to Contents
33
34
35
36
37
40
41
38
Capital Raised by Israeli Venture Capitals (By Vintage Year*)
ICTICT**** product has been growing rapidly in recent years, product has been growing rapidly in recent years, exceeding the rate of total growthexceeding the rate of total growth
33
0
500
1000
1500
2000
2500
3000
2007200620052004200320022001200019991998
Vintage year – first capital call or first investment, Including venture lending. **Information and communication technologies.
Source: Israel Venture Capital (IVC)
Central Bank Interest Rates
Israel vs. U.S.A
Source: Bank of Israel (BOI), Federal Reserve
0%
1%
2%
3%
4%
5%
6%
1 2 3 4 5 6 7 8 9 10
11
12
1 2 3 4 5 6 7 8 9 10
11
12
1 2 3 4 5 6 7 8 9 10
11
12
1 2 3 4 5 6 7
2005 2006 2007 2008
Bank of Israel Rate
U.S. Federal Funds Rate
3.75%
2.0%
34
NASDAQ & Tel Aviv 100 (monthly average)
1000
1500
2000
2500
3000
3500
4000
200
300
400
500
600
700
800
900
1000
1100
1200
Nasdaq (left scale)
Tel Aviv 100 (right scale)
Source: Tel Aviv Stock Exchange (TASE) and the Ministry of Finance. 35
Source: Credit Rating Agencies, Accountant General
Israel’s Credit Rating 1992-2008
A1/A+
A2/A
A3/A-
Baa1/BBB+
Baa2/BBB
Baa3 /BBB-
Moody's raised Israel bond ratings to 'A1' from 'A2'Moody's raised Israel bond ratings to 'A1' from 'A2'
36
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Moody's A1 S&P A Positive Fitch A Stable
Source: World Economic Forum, Global Competitiveness Index, 2007-8
16
5839
2927
2522
2018
17
139
62
1
26
Global Competitiveness Index, 2007-2008
Countries that have been invited for open discussions for joining the OECD.
Israel Ranks Israel Ranks 1177thth out of 125 Countries out of 125 Countries
37
Global Competitiveness Index, 2007/8SELECTED CATEGORIES
0 5 10 15 20 25
Estonia
Germany
Korea, Rep.
Singapore
Australia
Hong Kong SAR
Denmark
Israel
Netherlands
United States
0 5 10 15 20 25
Norway
Belgium
Germany
Korea, Rep.
United States
Switzerland
Sweden
India
Israel
Finland
0 5 10 15 20 25
Hong Kong SAR
Norway
Ireland
Singapore
Netherlands
Sweden
Finland
United Kingdom
Israel
Switzerland
Venture Capital AvailabilityVenture Capital Availability
Source: World Economic Forum, Global Competitiveness Index, 2007-8
0 5 10 15 20 25
Hong Kong SAR
Ireland
United Kingdom
Finland
Denmark
Israel
Korea, Rep.
Japan
United States
Switzerland
Availability of Scientists & EngineersAvailability of Scientists & Engineers
Quality of Scientific Research FacilitiesQuality of Scientific Research Facilities Company Spending on R&DCompany Spending on R&D
RANK
RANKRANK
RANK
38
0 5 10 15 20 25
Chile
Denmark
Norway
Japan
United Kingdom
United States
Ireland
Israel
Hong Kong SAR
New Zealand
0 5 10 15 20 25
Norway
Belgium
Germany
Korea, Rep.
United States
Switzerland
Sweden
India
Israel
Finland
0 5 10 15 20 25
Hong Kong SAR
Norway
Ireland
Singapore
Netherlands
Sweden
Finland
United Kingdom
Israel
Switzerland
Strength of Investor ProtectionStrength of Investor Protection
Source: World Economic Forum; Global Competitiveness Index, 2007-8
0 5 10 15 20
Iceland
United States
Canada
Ireland
Israel
Germany
Singapore
New Zealand
United Kingdom
Hong Kong SAR
Availability of Latest TechnologiesAvailability of Latest Technologies
Utility PatentsUtility Patents Legal Rights IndexLegal Rights Index
RANK
RANK RANK
RANK
Global Competitiveness Index, 2007/8SELECTED CATEGORIES
39
(con.)
Russia
Greece
Chile
Slovenia
Portugal
Estonia
Israel
Germany
Japan
Canada
United Kingdom
United States
Switzerland
Denmark
Countries that have been invited for open discussions for joining the OECD
Source: World Economic Forum; Global Competitiveness Index (GCI), 2006; Global Information Technology Report
*NRI: Measures the level of ICT (Information and Communication Technologies) development of nations [LINK TO SITE]
**GCI: Provides a holistic overview of factors critical to productivity and competitiveness [LINK TO SITE]
5.71) 1(
5.58) 5(5.54) 7(
5.45) 9(
5.35) 11(5.27) 14(
5.22) 16(5.14) 18(
5.02 (20)4.48) 28(
4.41 (30)
4.36 (31)3.98) 48(
3.54) 70(
Network Readiness Index (NRI)* 2006-7
Business Competitiveness
Index2007-8
The business climate is a critical element of sustained economic growth
6455
4946
3027
2522
1916
128
52
1
36
40
Israel and the OECD
Real GDP growth in 2007-8
Unemployment Rate in 2007-8
Press for desired slide or continue:
Back to Contents
GDP Based on PPP per Capita in 2006
44
45
43
Real GDP Growth(Annual percentage of change, partial list)
0%
2%
4%
6%
8%
10%
12%
Source and projections: OECD and the Ministry of Finance, Israel
2.7%1.8%
07’ 08’
OECD has given Israel the Roadmap for accession to the organization...OECD has given Israel the Roadmap for accession to the organization...
07’ - 5.3%
08’ - 4.2%
42
Unemployment Rate
(average)
Source: OECD, Ministry of Finance
Following the Roadmap, Israel has already submitted the initial memorandum Following the Roadmap, Israel has already submitted the initial memorandum
0% 2% 3% 5% 6% 8% 10% 11%
Total OECD
Euro area
Slovak Republic
Greece
Spain
Portugal
Israel
Hungary
Finland
Italy
Ireland
United States
Korea
Switzerland
Norway
08
’ 07
’
43
08’ 07’
08’ 07’
08’07’
GDP per capita based on purchasing-power-parity (PPP)
2007, (in US$)
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
33,294 25,758
Source: Economics and Research Department calculations from OECD and the Central Bureau of Statistics data 44
18 professional Israeli teams are currently answering OECD 18 professional Israeli teams are currently answering OECD questionnaires, designated to review Israel’s policy questionnaires, designated to review Israel’s policy
International Treaties
Israel’s Free Trade Agreements
Avoidance of Double Taxation Agreements
Cooperation in Industrial R&D Agreements
Protection of Investments Agreements
International Organization Memberships
Press for desired slide or continue:
Back to Contents
45-6
47
48-9
50
44
Israel’s Free Trade Agreements
46
1985
1992
1997
1997
European Union (Association Agreement)
USA
EFTA
Canada
Turkey
Mexico
MERCOSUR
1999
2000
2007
Avoidance of Double Taxation Agreements
CroatiaCroatia
DenmarkDenmark
EstoniaEstonia* *
EthiopiaEthiopia
FinlandFinland
FranceFrance
GermanyGermany
GreeceGreece
AustriaAustria
BelarusBelarus
BelgiumBelgium
BrazilBrazil
BulgariaBulgaria
CanadaCanada
ChinaChina
Czech Czech RepublicRepublic
HungaryHungary
IndiaIndia
IrelandIreland
ItalyItaly
JamaicaJamaica
JapanJapan
LatviaLatvia
LithuaniaLithuania
* The agreement with Estonia has only been signed initially 47
(con.)
SwitzerlandSwitzerland
ThailandThailand
The NetherlandsThe Netherlands
TurkeyTurkey
UkraineUkraine
United KingdomUnited Kingdom
UzbekistanUzbekistan
USAUSA
LuxembourgLuxembourg
MexicoMexico
MoldovaMoldova
NorwayNorway
PhilippinesPhilippines
Portugal *Portugal *
PolandPoland
RomaniaRomania
RussiaRussia
SingaporeSingapore
SlovakiaSlovakia
SloveniaSlovenia
South AfricaSouth Africa
South KoreaSouth Korea
SpainSpain
SwedenSweden
* The agreement with Portugal has been recently ratified
Avoidance of Double Taxation Agreements
48
Cooperation in Industrial R&D Agreements
BelgiumBelgium
CanadaCanada
ChinaChina
FranceFrance
Hong KongHong Kong
ItalyItaly
NetherlandsNetherlands
PortugalPortugal
SpainSpain
UKUK
USAUSA
SingaporeSingapore
IrelandIreland
SwedenSweden
FinlandFinland
GermanyGermany
IndiaIndiaAustriaAustria
KoreaKorea
49
Protection of Investment Agreements
AlbaniaAlbania
ArgentinaArgentina
ArmeniaArmenia
BelarusBelarus
Bulgaria Bulgaria
CroatiaCroatia
CyprusCyprus
Czech RepublicCzech Republic
El-SalvadorEl-Salvador
EstoniaEstonia
GeorgiaGeorgia
GermanyGermany
HungaryHungary
IndiaIndia
KazakhstanKazakhstan
KoreaKorea
50
TurkmenistanTurkmenistan
UkraineUkraine
UruguayUruguay
UzbekistanUzbekistan
QIZ AgreementQIZ Agreement
EgyptEgypt
JordanJordan
LatviaLatvia
LithuaniaLithuania
MoldovaMoldova
PolandPoland
RomaniaRomania
SlovakiaSlovakia
SloveniaSlovenia
ThailandThailand
TurkeyTurkey
Protection of Investment Agreements )con(.
51
International Organization* Memberships:
BIS | BSEC (observer) | CE (observer)BIS | BSEC (observer) | CE (observer)
CERN (observer) | EBRD | FAO | IADB | IAEA CERN (observer) | EBRD | FAO | IADB | IAEA
IBRD | ICAO | ICC | ICCT (signatory) | ICFTU IBRD | ICAO | ICC | ICCT (signatory) | ICFTU
IDA | IFAD | IFC | IFRCS (observer) | ILO | IMF IDA | IFAD | IFC | IFRCS (observer) | ILO | IMF
IMO | Interpol | IOC | IOM | ISO | ITU | MIGAIMO | Interpol | IOC | IOM | ISO | ITU | MIGA
OAS (observer) | OECD (candidate)OAS (observer) | OECD (candidate) | OPCW (signatory)OPCW (signatory)
OSCE (partner) | PCA | UN | UNCTAD |OSCE (partner) | PCA | UN | UNCTAD | UNECE | UNEPUNECE | UNEP
UNESCO | UNHCR | UNIDO | UPU | WB |UNESCO | UNHCR | UNIDO | UPU | WB | WCO | WFP | WHOWCO | WFP | WHO
WIPO | WMO | WTOO | WTRO | WIPO | WMO | WTOO | WTRO | WTOWTO
* Economic Organizations 52
Relevant Sites
Back to Contents
Government Institutions:
OECD Stat Profile on Israel
Bank of Israel (BOI)
Central Bureau of Statistics
Israeli Government Portal
Ministry of Finance
Israel Securities Authority
Ministry of Industry, Trade and Labor
OECD Israel
Economic News:
“The Marker”
“Globes”
WWW.FINANCEISRAEL.MOF.GOV.IL
International Affairs Department Homepage:
We welcome your feedback!We welcome your feedback!
Contact:
Ms. Ravit Friedberg
International Affairs Department
Ministry of Finance, Jerusalem, Israel
Start Again
Click here for our website!
www.FINANCEISRAEL.mof.gov.il