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April 14, 2014 9:50 am

Israeli Economy Grew 3.3 Percent in 2013

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An Israeli shekel coin. Photo: Wikimedia Commons.

JNS.orgIsrael’s economy grew by 3.3 percent in 2013, the country’s Central Bureau of Statistics said on Sunday.

The figure marks a slight drop from 2012 and 2011, when the economy expanded by 3.4 percent and 4.6 percent, respectively. Nevertheless, Israel’s economy in 2013 outperformed many European economies, some of which experienced half its growth rate.

Israel’s gross domestic product per capita reached a new high in 2013 of $35,000. According to CBS projections, it will reach $40,000 by the end of 2014.

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  • Eric R.

    The $40,000 figure by the end of this year cannot possibly be true, even with Tamar Gas. That would require a 16 percent growth of GDP (16% growth with approximately 2% population growth would be 14% growth in GDP per capita, or per capita income). Projections for 2014 indicate growth of 3.5% in GDP, with a population growth of 1.8%, that would mean a growth in GDP per capita of 1.7%, or about $500.

    That would bring Israeli GDP to $35,500. At present growth trends, Israel’s GDP per capita would surpass that of France within two years and Japan with five or six. She has already passed South Korea, Italy, Spain, New Zealand, Portugal and Greece.

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