ministry of economy research & economics...

Ministry of Economy

Research & Economics Administration

* Data refers to 2014

*

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The Israeli Economy at a Glance 2

303,772 Gross Domestic Product

226,160 Business Sector Product

36,991 GDP Per Capita (U.S.$)

56,507 Investment in Fixed Capital

71,449 Imports of Goods (Net)

57,695 Exports of Goods (Net)

53,364 Industrial Exports**

19,947 of which, hi-tech

92,694 Imports of Goods and Services***

96,592 Exports of Goods and Services***

8,212 Population Average (Thousands)

5.9 Unemployment Rate )%(

-0.2 Inflation Rate (CPI-%)****

FACTS & FIGURES 2014 *Figures refer to millions of U.S. $ unless otherwise stated

ISRAEL

*Average Exchange rate of 2014= 3.5779 NIS to U.S. $. ** Including mining and quarrying and net polished diamonds

***Source: Balance of payments

****Dec. 2014 compared to Dec. 2013

Source: Israel C.B.S


ISRAEL`S EXPORTS OF GOODS, 2014 (MILLIONS OF U.S. $)

TOTAL EXPORTS – 68,995*

Unclassified-$3,219 (4.7%)

* Gross figures before reduction of returned goods

**1. N. America including: U.S.A., Canada & Mexico

***2. Latin America including: Central America

NORTH

AMERICA**

19,663

28.5%

EFTA

1,506

2.1%

LATIN

AMERICA***

2,076

3.0%

AFRICA

1,364

1.9% OCEANIA

656.3

1.0%

E.U.

18,876

27.4%

CENTRAL & EASTERN

EUROPE

4,163

6.0%

ASIA

17,470

25.3%



CONTRIBUTION OF SPECIFIC REGION TO EXPORT GROWTH


2014 COMPARED TO 2004

Increment of $ 30,376 Million

26.9%

E.U.

2.2%

EFTA

34%

Asia

1%

Oceania

8.8%

Other European

countries

4%

South and

Central

America

6%

Unclassified

Countries

2.7%

Africa 15.6%

North America


INDUSTRIAL EXPORTS* BY MAJOR BRANCHES, 2014

Total Industrial Exports

53,364 Millions of U.S.$**

Exports Excluding Diamonds

47,082 Millions of U.S.$

*Manufacturing including mining and quarrying

**Including net polished diamonds Source: Israel C.B.S

24%

Chemicals

13%

Metal

products

and

machinery

7%

Food, drink,

textile and

other 6%

Rubber,

plastic and

fuel

35%

Computer,

electronic

and medical

equipment

21%

Chemicals

12%

Diamonds

11%

Metal

products

and

machinery 6%

Food, drink,

textiles and

other

5%

Rubber,

plastic and

fuel

31% Computer,

electronic and

medical

equipment

12% Pharmaceuticals

14%

Pharmaceuticals


COMPOSITION OF INDUSTRIAL EXPORTS 2014 VS. 2004

TOTAL INDUSTRIAL EXPORTS EXCLUDING DIAMONDS:

IN 2004-$ 23,731 , IN 2014-$ 46,800 MILLION


2014 2004

19,947 10,982 High- technology industries

17,285 6,215 Medium- high technology industries

6,457 4,511 Medium- low technology industries

3,112 2,022 Low- technology industries

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2004 2014

Low Technology

Medium low

Medium high

High technology



COMPOSITION OF INDUSTRIAL EXPORTS* 2014 VS. 2004

TOTAL INDUSTRIAL EXPORTS EXCLUDING DIAMONDS:

IN 2004-$ 23,731 , IN 2014-$ 46,800 MILLION

32.0%

pharmaceutical

products

57.0%

Manufacture of

computers,

electronics and

optical products

10.5%

Manufacture of

air and

spacecraft and

related

machinery

*Hi- tech. exports by branches 2014, are according to the new ISIC classification

2014 2004

19,947 10,982 High- technology industries


ISRAEL`S IMPORTS OF GOODS, 2014

Unclassified-$12,238 (16.9%)

* Gross figures before reduction of returned goods

** 1. N. America including: U.S.A., Canada & Mexico

2. Latin America including Central America

(MILLIONS OF U.S. $)

TOTAL IMPORTS – 72,310*

NORTH

AMERICA**

9,085

12.5%

EFTA

5,366

7.4%

LATIN

AMERICA

773

1.0%

AFRICA

329

0.4% OCEANIA

136

0.1%

E.U.

24,132

33.3 %

CENTRAL & EASTERN

EUROPE

3,811

5.2%

ASIA

16,440

22.7%



BREAKDOWN OF IMPORT INCREASE BY

REGION

2014 COMPARED TO 2004 INCREMENT OF $ 30,790 Million


23.4%

E.U.

8.2%

E.F.T.A.

5.1%

Other

European

countries 29.7%

Asia

8.6%

North America

1%

South America

24.3%

Unclassified

Countries


RESOURCES AND USE OF RESOURCES 2014

RESOURCES

(396 BILLION U.S.$)

USE OF RESOURCES

(396 BILLION U.S. $)


43.0% Private

consumption

25.0% Exports

17.1% Public

consumption

14.9% Gross

Investments

76%

GDP

24%

Imports


BUSINESS PRODUCT COMPOSITION 2014


26%

Finance and

Business Services

22%

Manufacturing,

mining and

quarrying 14%

Trade, commerce

and food services

17%

Transport,

storage and

communicators

7%

Construction

9%

Personal and

other services

2%

Agriculture,

Forestry and

fishing

3%

Electricity and

Water


QUARTERLY EMPLOYMENT &

UNEMPLOYMENT SINCE 2012*


3.20

3.25

3.30

3.35

3.40

3.45

3.50

3.55

3.60

I II III IV I II III IV I II III IV

Employment, (Millions)

* Data is seasonally adjusted

6.9 6.8 6.8 7.0

6.6 6.7

6.0 5.8 5.8 6.0 6.2

5.7

0

1

2

3

4

5

6

7

8

I II III IV I II III IV I II III IV

Unemployment (%)

2012 2013 2014 2012 2013 2014


CONSUMER PRICE INFLATION RATES 2004-2014

ANNUAL PERCENTAGE CHANGE*

*Year end compared to previous year end Source: Israel C.B.S

Y E A R S

1.2

2.4

-0.1

3.4 3.8 3.9

2.7

2.2

1.6 1.8

-0.2 -0.5

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

The Israeli Economy at a Glance

G.D.P PER CAPITA, IN P.P.P** , 2014

U.S. DOLLARS

** Purchasing Power Parities including latest estimates

Source: O.E.C.D.

17,2

51

19,3

63

22

,421

27,5

94

28

,460

29

,969

33462

33984

34547

35275

36904

38937

39561

44190

44631

48910

54565

0

10,000

20,000

30,000

40,000

50,000

60,000

Mex

ico

Tu

rkey

*

Chil

e

Slo

vak

rep

ubli

c

Port

ugal

Cze

ch r

epubli

c*

Isra

el

Spai

n

Ko

rea*

Ital

y

Jap

an*

OE

CD

- to

tal

Un

ited

Kin

gdo

m

Ger

man

y

Den

mar

k

Irel

and

Un

ited

Sta

tes*


Source: O.E.C.D.

* Estimates

REAL GDP GROWTH 2014

-0.4%

0.3% 0.4%

1.1%

1.4% 1.6%

1.8%

2.1% 2.2% 2.4%

2.6% 2.6% 2.8%

3.3%

-1.0%

-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

Ita

ly

Au

stri

a

Fran

ce

Den

mark

Sp

ain

Ger

ma

ny

To

tal

OE

CD

*

Sw

ed

en

No

rwa

y

Un

ited

Sta

tes*

Cze

ch R

epu

bli

c

Un

ited

kin

gd

om

Isra

el

Korea


UNEMPLOYMENT RATE (%)

Source: O.E.C.D. for Israel, C.B.S.

3.5 3.6 5

5.9 6.1 6.2 6.2 6.5 6.9 7.9

10.3 11.3

24.5

26.6

0

5

10

15

20

25

30

No

rwa

y

Jap

an

Ger

ma

ny

Isra

el

Au

stra

lia

Un

ited

Sta

tes

Un

ited

Kin

gd

om

Den

mark

Ca

na

da

Sw

ed

en

Fran

ce

Irel

an

d

Sp

ain

Gre

ece


HOURLY COMPENSATION COST IN

MANUFACTURING, 2012 IN U.S. DOLLARS

Source: U.S. Bureau of Labor Statistics

9.46

19.41 20.14 20.72

26.83

31.23 35.34 35.61

39.81

45.79

48.47

0

10

20

30

40

50

60T

aiw

an

Gre

ece

Isra

el

Korea

Sp

ain

Un

ited

Kin

gd

om

Jap

an

Un

ited

Sta

tes

Fran

ce

Ger

ma

ny

Den

mark


R&D Expenditure As a Percentage of GDP 2014

Source: O.E.C.D

1.7%

2.3% 2.3% 2.8% 2.9% 2.9%

3.1% 3.2% 3.2%

3.8% 4.0% 4.2%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

U.K

.

Fran

ce

OE

CD

- to

tal

US

A

Sw

itze

rla

nd

Ger

ma

ny

Den

mark

Sw

ed

en

Jap

an

Fin

lan

d

Korea

Isra

el


RELATIVE WORLD COMPETITIVENESS Overall ranking 2014

Source: IMD World Competitiveness Yearbook 2014 IMD ranks factors among 58 countries

0

20

40

60

80

100It

aly

Cze

ch R

epu

bli

c

Ch

ile

Fran

ce

Bel

giu

m

Jap

an

Korea

Fin

lan

d

Isra

el

Un

ited

Kin

gd

om

Irel

an

d

Den

mark

Ger

ma

ny

No

rwa

y

US

A

9th 44th 22nd 24th 26th 28th 30th 35th 12th 17th 18th 19th 20th 1st 6th


RELATIVE WORLD COMPETITIVENESS By Factors, 2014

0

1

2

3

4

5

6

7

8

9

Kore

a

Ita

ly

US

A

Sp

ain

Ger

man

y

Net

her

lan

ds

Ja

pan

Ca

na

da

Sw

eden

Fra

nce

Sin

gap

ore

Den

mark

Isra

el

Cyber Security

* The numbers on the left side of each graph refer to relative availability of skills as reported by survey IMD ranking on a scale of 1-10

Source: IMD World Competitiveness Yearbook 2014


0

1

2

3

4

5

6

7

8

9

Po

rtu

ga

l

Cze

ck R

epu

bli

c

Sp

ain

Kore

a

Ita

ly

Fra

nce

Ca

na

da

Ja

pan

Sw

eden

Den

mark

US

A

Isra

el

Innovative Capacity

RELATIVE WORLD COMPETITIVENESS




By Factors, 2014



0

1

2

3

4

5

6

7

8

9

Ital

y

Ho

ng K

ong

Irel

and

Can

ada

Fra

nce

Sin

gap

ore

Ger

man

y

US

A

Isra

el

Sw

itze

rlan

d

Scientific Research

0

1

2

3

4

5

6

7

8

9

Fra

nce

Ko

rea

Port

ugal

Sw

eden

UK

Can

ada

US

A

Isra

el

Irel

and

Flexibility and Adaptability



By Factors, 2014



0

2

4

6

8

Ital

y

UK

Au

stra

lia

Fra

nce

Ko

rea

Den

mar

k

Isra

el

Total R&D Personnel in Business Per Capita

2012

0%

10%

20%

30%

40%

50%

60%

70%

US

A

Fra

nce

Ger

man

y

Ko

rea

Isra

el

Jap

an

Sin

gap

ore

Science Degrees 2011

012345678

Spai

n

Ital

y

U.K

.

Bra

zil

Den

mar

k

US

A

Ger

man

y

Isra

el

Entrepreneurship

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

Ital

y

Can

ada

Fra

nce

Ger

man

y

Japan

Kore

a

Isra

el

Business Expenditure on R&D



By Factors, 2014



0123456789

Fin

lan

d

Isra

el

Den

mark

US

A

Ja

pan

UK

Germ

an

y

Information Technology

Skills

0

1

2

3

4

5

6

7

8

9

Ger

man

y

Hon

g K

on

g

US

A

Sw

eden

Irel

an

d

Isra

el

Fin

lan

d

Qualified Engineers



Main Indicators 2011-2014

Source: C.B.S., Ministry of Economy

Real annual percentage

change Annual

average 2011 2012 2013 2014

Gross Domestic Product 4.2 3.0 3.2 2.8 3.3

Business Sector Product 4.5 2.9 3.4 2.7 3.4

GDP per capita 2.3 1.1 1.3 0.8 1.4

Fixed Capital Investment 17.6 4.7 0.1 -2.5 4.9

Buildings and other

construction works 10.2 5.7 3.4 -5.9 3.4


Population, Immigration and Employment

2010 2011 2012 2013 2014

Average Population (thousands) 7,622 7,763 7,910 8,060 8,212

Percentage change in average

population 1.9 1.8 1.8 1.8 1.9

Immigration (thousands) 16.6 16.9 16.6 16.8 24

Employed Persons (thousands) 2,938 3,025 3,359 3,449 3,522

Unemployed Persons (thousands) 209 180 247 228 222

Unemployment Rate )%( 6.6 5.6 6.9 6.2 5.9



Main Industrial Indicators Real Annual Percentage Change

All figures refer to total industry excluding diamonds.

Source: C.B.S.,Ministry of Economy

2014 2013 2012 2011 2010 2009

0.6 1.1- 4.7 2.2 7.9 6.0- Production

1.4 3.2 4.6- 0.8- 12.7 8.3- Export

0.2 0.3 0.7 1.7 1.6 4.8- Employment

0.4 0.7- 3.9 0.3 6.1 1.3- Productivity

0.1 24.5- 7.7- 53.4 7.6 26.2-

Gross

Investment


By Major Category

Millions of U.S. $ (Current Prices)

Imports of Goods (gross)


2009 2010 2011 2012 2013 2014

Consumer goods 7,600 8,690 10,040 10,539 11,506 12,545

of which, durable 3,103 3,563 4,085 4,384 4,871 5,384

Production inputs 31,921 41,629 50,990 52,073 50,931 50,032

Investment goods 7,789 8,799 12,416 10,449 9,493 9,661

of which, machinery

& equipment 5,279 5,683 8,983 6,903 5,725 5,890

Total Imports 47,310 59,118 73,536 72,270 72,000 72,310


Export of Goods (gross) Millions of U.S.$ (Current Prices)

2009 2010 2011 2012 2013 2014

Agricultural export 1,230 1,327 1,381 1,373 1,495 1,368

1. Citrus 139 167 155 189 189 194

2. Flowers 146 103 106 128 126 108

Industrial export 44,399 53,640 62,441 58,656 61,773 64,172

1. Polished Diamonds 9,431 12,962 16,689 14,393 15,713 17,090

2. Industrial export

excluding diamonds 34,968 40,678 45,752 44,263 46,060 47,082

Of which hi-tech 17,920 20,128 21,517 19,723 20,121 19,947

Other exports 2,307 3,464 3,980 3,200 3,700 3,455

Total Export 47,936 58,431 67,802 63,145 66,788 68,995

Source: Israel C.B.S, Foreign Trade.


Service Sector Exports

Millions of U.S.$ (Current Prices)

2009 2010 2011 2012 2013 2014

Travel & Tourist Services 4,444 5,106 5,305 5,446 5,666 5,691

Transportation Services 3,167 4,254 4,475 4,546 4,467 4,277

Other Business Services 15,075 15,209 17,539 21,137 23,552 24,357

Of which: Computer

Software 4,821 5,528 6,886 8,018 8,726 10,034

Research & Development 4,243 3,529 3,346 4,669 5,792 4,546

Total Services 21,983 25,373 27,386 31,181 33,735 34,373

Source: Israel C.B.S, Balance of Payments.

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