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Israeli Economy at a Glance

Overview:

In 2006 Israel's GDP (Gross Domestic Product) was approximately 140 billion dollars, representing a growth rate of 5.1% compared to an average rate of over 3% for the period 2000-2006 and 5.2% in 2005.

Israel's GDP growth rate for 2006 was high compared to the international average of OECD members in 2006, which was 3.2%.

The per capita GDP rose by 3.2% in 2006, continuing a rise of 3.4% in 2005 and 3.0% in 2004.
 
Private spending grew by 4.8% in 2006 and quality of living, measured by private spending per capita, rose by 3%; almost double the 1.6% in 2005.

The average monthly salary in Israel totals US$1875 (Feb. 2007).

Commercial rental varies according to location. In the case of offices, rates can range between US$8 /square meter in suburban areas to US$25 /square meter for prime office space in Tel Aviv. Rent on industrial space varies between US$3 /square meter to US$6 /square meter.

Bank lending interest rates vary between 5% and 7% (linked to the Consumer Price Index).

Bank deposit interest rates vary between 3% and 4% (linked to the Consumer Price Index).

Israel’s unemployment rate was approximately 8.4% in 2006, reflecting a decrease in the unemployment rate since 2004.