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Israel Snapshot - PESTLE, SWOT, Risk and Macroeconomic Analysis report is designed to provide in-depth information about Israel including it’s PESTLE (political, economic, social, technological, legal and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and country risk analysis backed by macroeconomic data.
Israel, officially the State of Israel, is a country in Western Asia, on the south-eastern shore of the Mediterranean Sea. It shares land borders with Lebanon in the north, Syria in the northeast, Jordan on the east, the Palestinian territories, or State of Palestine, which comprises the West Bank and Gaza Strip on the east and southwest respectively, Egypt and the Gulf of Aqaba in the Red Sea to the south, and it contains geographically diverse features within its relatively small area.
Israel is estimated to have population of 9.681 million in the year 2023 and expected to reach 10.34 million by 2027, growing at a CAGR of 1.66%.
Israel’s real gross domestic product (GDP) was ILS 1,367.398 billion in 2020 and while recovering from the COVID-19 impact it increased by 7.93% to be around ILS 1485.159 billion in 2021. It is further expected to increase by 3.65% and reach ILS 1841.801 billion by 2027.
Israel’s unemployment rate was 4.3% of total labor force in 2020. Due to slowdown in global economic activity due to COVID-19 pandemic the unemployment increased by 13.13% and reached 4.95% in 2021. Unemployment is further estimated to decrease by 4.74% and reach 3.7% of total labor force in Israel by 2027.
Israel’s per capita GDP was estimated at USD 55,358.835 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 52,173.077 for the year 2022.
In 2022, Israel government’s revenue was ILS 660.2 billion whereas the expenditure was ILS 658.669 billion. This resulted in Israel government’s net lending / borrowing positive at ILS 1.531 billion in 2022 indicating that enough financial resources were made available by the Israel government to boost economic growth.
The current account balance for Israel was estimated to be positive at USD 13.144 billion for the year 2022 and is expected to further decrease at a CAGR of 11.37% and reach USD 22.52 billion by 2026. This positive current account balance indicates that Israel will remain a net lender to rest of the world till 2027
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