Israeli Economy, historic growth beating global average (Hebrew)
Israeli economy grew by 8.1% last year, surpassing all forecasts…
Israel’s Gross Domestic Product (GDP) grew by 8.1% in 2021, surpassing previous forecasts and marking the highest financial growth rate recorded in Israel in 21 years, according to data published by the Central Bureau of Statistics on Wednesday.
According to the data, the fourth fiscal quarter of 2021 saw a staggering 16.6% growth in GDP, bringing the yearly average to 8.1%, the highest since 2000, when Israel’s growth rate stood at 8.4%.
Israel’s GDP per capita marked an impressive growth in 2021 as well. With Israel’s population growing by 1.7% in 2021, GDP per capita grew by 6.3%.
That figure was 1.3% higher than the estimated average growth of 5% in OECD countries, the Central Bureau of Statistics said.
After the economy shrank in 2020 and early in 2021, Israel in March emerged from its third coronavirus lockdown amid a rapid vaccination rollout. The economy grew 16.6% in the second quarter at an annual rate from the prior three months.