Israel's economy will grow by only 2.2% in 2014, after 3.2% growth last year and 3% growth in 2012, the Central Bureau of Statistics says in updated estimates released today. GDP per capita will be NIS 132,000 this year, at current prices. At fixed prices, GDP per capita will be 0.3% higher this year than last.
GDP grew by an annualized 2.5% in the first half of this year, after 3.2% growth in the second half of 2013 and 3% growth in the first half of that year.
According to the preliminary estimates, imports of goods and services will have risen by 2.7% in 2014, so that total sources available to the economy, from domestic output and imports, will grow by 2.3%, after growth of 2.4% in 2013 and 2.9% in 2012.
The breakdown of use of resources indicates a 3.4% rise in personal consumption, following a rise of 3.3% in 2013 and 3.1% in 2012. Public expenditure will show a rise of 3.7% in 2014, following rises of 3.5% in 2013 and 3.6% in 2012.
Growth of 1.2% is indicated in exports of goods and services excluding diamonds, after growth of 0.9% in 2013 and 5.1% in 2012. Investment in fixed assets shows a fall of 0.9%, after a rise of 1.1% in 2013 and a rise of 3.2% in 2012.
The Central Bureau of Statistics estimates that private sector product will rise by just 1.9% this year, after rises of 3.4% in 2013 and 2.9% in 2012.
Published by Globes [online], Israel business news - www.globes-online.com - on October 20, 2014
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