The Gross Domestic Product (GDP) in Israel was worth 540.38 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Israel represents 0.51 percent of the world economy. This dataset provides - Israel GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross domestic product (GDP) in current prices in Israel amounted to about 540.38 billion U.S. dollars in 2024. Between 1980 and 2024, the GDP rose by approximately 515.31 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 190.05 billion U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

GDP, billion currency units in Israel, March, 2025 The most recent value is 500.76 billion Israeli New Shekel as of Q1 2025, a decline compared to the previous value of 527.27 billion Israeli New Shekel. Historically, the average for Israel from Q1 1995 to Q1 2025 is 240.01 billion Israeli New Shekel. The minimum of 70.89 billion Israeli New Shekel was recorded in Q1 1995, while the maximum of 527.27 billion Israeli New Shekel was reached in Q4 2024. | TheGlobalEconomy.com

In the third quarter of 2024, nominal GDP in Israel reached over *** billion Israeli shekels, some ***** billion U.S. dollars. This accounts for a *** percent increase from the previous quarter. After a **** percent drop following the start of the Israel-Hamas war in the fourth quarter of 2023, GDP in the country recovered in the subsequent quarters.

The total consumer spending in Israel was forecast to continuously increase between 2024 and 2029 by in total 59.6 billion U.S. dollars (+23.71 percent). After the sixth consecutive increasing year, the consumer spending is estimated to reach 311.2 billion U.S. dollars and therefore a new peak in 2029. Consumer spending here refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the total consumer spending in countries like Iran and Iraq.

The total gross domestic product (GDP) of Israel reached over *** trillion Israeli shekels in 2023 (about *** billion U.S. dollars). Advanced services, such as financial and scientific services, accounted for the largest share of GDP, reaching over *** billion Israeli shekels (some ** billion U.S. dollars). It was followed by the information and communications sector. By comparison, agricultural production amounted to only ** billion Israeli shekels (about *** billion U.S. dollars).

Israël: Gross Domestic Product, billions of U.S. dollars: Pour cet indicateur, La Banque mondiale fournit des données pour la Israël de 1960 à 2023. La valeur moyenne pour Israël pendant cette période était de 127.7 billion U.S. dollars avec un minimum de 2.96 billion U.S. dollars en 1962 et un maximum de 525 billion U.S. dollars en 2022.

The largest contributor to gross domestic product (GDP) in Israel in 2023 was the advanced services industry, which provides financial, scientific and other services. It accounted for almost ** percent of the economy that year. It was followed by the information and communications sector, at **** percent. By comparison, agricultural production amounted to about *** percent of GDP. The total GDP of Israel reached over *** billion U.S. dollars.

Israel's military expenditure as a share of GDP reached 8.8 percent in 2024, marking a significant increase from previous years. The surge in defense spending reflects the country's response to the Israel-Hamas conflict, which began in Gaza in October 2023, and expanded to hostilities in Lebanon, Yemen and Iran by 2025. The financial impact of the war was also apparent in the county's national debt figures, which rapidly increased by 20 percent between the third quarter of 2023 and the third quarter of 2024. Escalating defense budget amid conflict Israel's military allocation for 2025 has seen a significant increase, nearly doubling compared to 2022. Still, actual defense spending during the year is expected to exceed the approved 109.8 billion Israeli shekels, approximately 31.6 billion U.S. dollars, reflecting the nation's intensified emphasis on military preparedness amidst escalating geopolitical tensions. The bulk of this budget is earmarked for procurement and purchases, totaling around 55 billion Israeli shekels, equivalent to 15.7 billion U.S. dollars. Record-breaking arms exports As Israel ramped up its military spending, the country's defense industries have also reached new heights. In 2024, the value of arms exported from Israel reach 14.8 billion U.S. dollars, marking the third consecutive annual record. Air defense systems were the most popular product category that year, accounting for nearly half of all defense exports. The industry’s robust performance highlights the growing global demand for arms, and Israeli military hardware in particular.

GDP, billion currency units in Israël, mars, 2025 Pour cet indicateur, Israel Central Bureau of Statistics fournit des données pour la Israël de Q1 1995 à Q1 2025. La valeur moyenne pour Israël pendant cette période était de 240.01 billion Israeli New Shekel avec un minimum de 70.89 billion Israeli New Shekel en Q1 1995 et un maximum de 527.27 billion Israeli New Shekel en Q4 2024. | TheGlobalEconomy.com

Israel military spending/defense budget for 2023 was 27.50 billion US dollars, a 17.48% increase from 2022.

<ul style='margin-top:20px;'>

<li>Israel military spending/defense budget for 2022 was <strong>23.41 billion US dollars</strong>, a <strong>3.84% decline</strong> from 2021.</li>
<li>Israel military spending/defense budget for 2021 was <strong>24.34 billion US dollars</strong>, a <strong>11.57% increase</strong> from 2020.</li>
<li>Israel military spending/defense budget for 2020 was <strong>21.82 billion US dollars</strong>, a <strong>7.26% increase</strong> from 2019.</li>
</ul>Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations; and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel; operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country).

Israel foreign direct investment for 2023 was 15.11 billion US dollars, a 34.39% decline from 2022.

<ul style='margin-top:20px;'>

<li>Israel foreign direct investment for 2022 was <strong>23.03 billion US dollars</strong>, a <strong>21.54% increase</strong> from 2021.</li>
<li>Israel foreign direct investment for 2021 was <strong>18.95 billion US dollars</strong>, a <strong>9.63% decline</strong> from 2020.</li>
<li>Israel foreign direct investment for 2020 was <strong>20.97 billion US dollars</strong>, a <strong>20.77% increase</strong> from 2019.</li>
</ul>Foreign direct investment refers to direct investment equity flows in the reporting economy. It is the sum of equity capital, reinvestment of earnings, and other capital. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy. Ownership of 10 percent or more of the ordinary shares of voting stock is the criterion for determining the existence of a direct investment relationship. Data are in current U.S. dollars.

The gini index in Israel was forecast to continuously decrease between 2024 and 2029 by in total 0.01 points. The gini is estimated to amount to 0.37 points in 2029. The Gini coefficient here measures the degree of income inequality on a scale from 0 (=total equality of incomes) to one (=total inequality).The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the gini index in countries like Jordan and Lebanon.

Key information about Israel Foreign Exchange Reserves

• Israel Foreign Exchange Reserves was measured at 211.7 USD bn in Jan 2025, compared with 210.1 USD bn in the previous month
• Israel Foreign Exchange Reserves: USD mn data is updated monthly, available from Dec 2001 to Jan 2025
• The data reached an all-time high of 215.8 USD bn in Sep 2024 and a record low of 22.9 USD bn in Apr 2003

CEIC calculates monthly Foreign Exchange Reserves as the sum of Foreign Currency Reserves and Other Reserve Assets, which include other financial instruments denominated in foreign currency. The Bank of Israel provides Foreign Exchange Reserves in USD.


Further information about Israel Foreign Exchange Reserves

• In the latest reports, Israel Foreign Exchange Reserves equaled 28.7 Months of Import in Jan 2025.
• Its Money Supply M2 increased 385.9 USD bn YoY in Dec 2024.
• Israel Domestic Credit reached 742.6 USD bn in Apr 2023, representing an increased of 12.9 % YoY.
• The country's Non Performing Loans Ratio stood at 0.8 % in Sep 2024, compared with the ratio of 0.8 % in the previous quarter.
• Household Debt of Israel reached 42.7 % in Sep 2024, accounting for 42.7 % of the country's Nominal GDP.

Israel's consumer confidence index reached ** points in January 2025, showing a slight improvement from December 2024. Still, public sentiment remained below the previous 12-month average of ** points. This figure reflected the ongoing impact of the Israel-Hamas conflict on consumer sentiment, which has been relatively low since the war began in October 2023. The index provides insight into Israeli households' perceptions of their financial situations and major purchasing plans. Public consumption recovers Despite the subdued consumer confidence, the consumer market in Israel tells a different story. Private consumption reached over *** billion Israeli shekels (about ** billion U.S. dollars) in the third quarter of 2024, representing an increase of almost ** percent from the previous quarter. This was part of a longer upward trend in spending for ***** consecutive quarters. The gradual improvement in consumer spending suggests a steady recovery in the consumption side of the economy. Credit card transactions are growing Credit card transactions also demonstrated signs of recovery. In the first quarter of 2024, the total value of credit card transactions in Israel amounted to over *** billion Israeli shekels (about ** billion U.S. dollars), marking a **** percent increase from the previous quarter. This growth was observed across both large and small businesses, with transactions in large businesses reaching over ** billion Israeli shekels (about ** billion U.S. dollars) during the first months of 2024.

In 2023, the technology industry output in Israel was valued at almost 339 billion Israeli shekels (some 92 U.S. dollars). This reflected an approximately 69 percent increase since 2019. Furthermore, in 2023, the technology sector's share of GDP reached almost 20 percent.

In December 2024, the direct monthly cost of the Israel-Hamas war in Israel reached 14.3 billion Israeli shekels, some 3.8 billion U.S. dollars. In the earlier months of the war, expenditure was higher than the latter period, peaking at 17.2 billion Israeli shekels, about 4.6 billion U.S. dollars, in December 2023.

Israel's approved defense budget for 2025 has increased remarkably to almost *** billion Israeli shekels (approximately **** billion U.S. dollars), an ** percent increase relative to 2022. This substantial elevation in military expenditure mirrors Israel's sharpened focus on military readiness, a shift in national priorities prompted by the Israel-Hamas conflict that began in October 2023. However, there is a slight pullback in the defense allocation compared to the country's actual expenditure in 2024, which amounted to *** billion Israeli shekels (about **** billion U.S. dollars). This suggests that Israel's budget planners are anticipating less armed conflict in 2025. Conflict driving a surge in government spending The increase in military spending is part of a broader trend of elevated state expenditure due to the war in the Middle East. During the first quarter of 2024, government consumption in Israel reached over *** billion shekels (about ** billion U.S. dollars), marking a ** percent increase compared to the same period in 2023. This bump in public spending has been largely driven by defense, but also welfare and compensation payouts to those impacted by hostilities. Growing national debt The ramifications of increased military spending are evident in Israel's national debt figures. By the third quarter of 2024, general government debt had swelled to over *** trillion Israeli shekels (around *** billion U.S. dollars). This represented a 20 percent increase in just 12 months. The escalation in debt levels underscores the financial strain of sustaining heightened military expenditure, which reached *** percent of the country's gross domestic product in 2024.

In the third quarter of 2024, government consumption in Israel reached nearly *** billion Israeli shekels. This accounts for a ** percent increase over the same period in 2023. Following the start of the Israel-Hamas war on October 7, 2023, government consumption in the country increased significantly to over *** billion Israeli shekels in the fourth quarter of 2023.

As of December 2024, the total cost of the Israel-Hamas war in Israel amounted to some 140 billion Israeli shekels, about 36.8 billion U.S. dollars. Primary military expenses accounted for the largest expense category, totaling 95 billion Israeli shekels, about 25.2 billion U.S. dollars. In addition, civilian expenses and secondary damage compensation amounted to 22.8 billion and 16.7 billion Israeli shekels, respectively.