8th March 2020
March is certain to see a drastic fall in both arrivals and departures. The abrupt swing from boom to crisis is unprecedented, because it does not stem from national security issues, but from global health concerns. Furthermore, no-one knows how long the crisis will last. However, it is likely that the recovery, when it comes, will be gradual, rather than sharp.
8th March 2020
2nd March 2020
Service exports recorded yet another positive year in 2019, with high-tech exports leading the charge – as usual – but tourism revenues also making a positive contribution. Scientific research, conducted by research centers established by foreign multinationals, and sales of start-up companies, were the areas of strongest growth.
19 TH FEBRUARY, 2020
Bottom line: The economy is stable and nothing remarkable happened in the fourth quarter. Growth in the period July 2018-December 2019 was around the level of 3.5%, driven by rapid consumption growth – fueled by both higher wages and increasing debt – and by services exports.
5TH JANUARY, 2020 Bottom line: The economy, as measured by GDP, grew by 3.3% in 2019 – similar to, if slightly less than, the previous two years. But only consumption is driving growth, with investment at a multi-year low and exports and imports both growing slowly. In 2019, the revaluation of the shekel gave real income growth an extra push, […]» Read more
December 17th , 2019.
Bottom line: The current account surplus in the third quarter, at $3.9bn, was $300m. less than that in the second quarter. Although each of the four components of the current account (see below) declined compared to the second quarter, the net change was marginal, demonstrating how a large surplus has become a stable feature of the Israeli economy. This surplus also explains the strength of the Israeli shekel – and it is set to increase in 2020, when natural gas exports from the Leviathan field begin.
8th December 2019 Bottom line: Good news on the fiscal front?! At the least, the November data contained no bad news, which is already a relative improvement. However, the surplus reported is only ‘technical’, with the true result being a deficit (see below). Nevertheless, the 12-month trailing deficit through November was stable at 3.6% of GDP and revenues rose […]» Read more