Israel's economy grew at annual 6.6% in first half
GDP growth is above the 5% predictions of both the Finance Ministry and the Bank of Israel.
Zeev Klein 22 Aug 07 14:18
Israel’s GDP rose by an annualized 6.6% in the first half of the year, after rising by 3.4% in the second half of 2006 and 6% in the first half, the Central Bureau of Statistics reports. The growth is above the 5% predictions of both the Ministry of Finance and the Bank of Israel.
The present growth rate is higher than in 2003-06, and the highest since the 8.7% growth rate in 2000. The economy has now recorded five years of continuous growth, the longest period in Israel’s history. GDP has grown 21% since 2003, an increase of NIS 135 billion. GDP is now at an all-time high of NIS 660 billion, and GDP per capita is NIS 92,338, or $21,500.
The rapid growth in the first half was driven by an 8.3% annualized growth in exports, 5.9% annualized growth in investment, and an annualized growth of 7.5% in private consumption. Business product rose by an annualized 7.9%, above expectations.
Published by Globes [online], Israel business news -
www.globes.co.il - on August 22, 2007