Israel's economy grew at 4.2% in Q1 2018

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This latest growth follows 4.4% growth on an annualized basis in the fourth quarter of 2017, the Central Bureau of Statistics reports.

Israel's economy remains robust with the latest figures from the Central Bureau of Statistics showing that Gross Domestic Product (GDP) grew at an annualized rate of 4.2% in the first quarter of 2018. This follows 4.4% growth in the fourth quarter of 2017 and 4.1% growth in the third quarter of 2017. The Central Bureau of Statistics stresses that this is a preliminary estimate, which is not based on the full data and is likely to be revised.

An analysis of the growth finds double-digit growth in almost of parameters. Private consumption rose 10% in the first quarter, investment in fixed assets grew 12.8%, exports of goods and service rose 11.4% and public expenditure also rose 11.4%. Import of goods and services rose 23.4% after rising by only 6.1% in the fourth quarter of 2017. High-tech remains the growth engine of the economy. Exports of software and communications products rose 26.8% in the first quarter.

Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Growth Photo: Shutterstock
Growth Photo: Shutterstock
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