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Israel's economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Israel ranked 28/197 by economy size with a GDP of $540B and 21/197 by GDP per capita at $54,177. Israel has $367B in government debt, with a debt-to-GDP ratio of 69.1%.

In 2025, Israel made up 0.49% of the world's economy, compared to 0.22% in 1960.

The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.

GDP, current $
GDP, constant 2015 $
GDP growth
Year GDP GDP growth
Current $ Constant $
1960 $3,070,585,807 $18,583,908,318 -
1961 $3,708,586,471 $20,666,029,079 20.8%
1962 $2,966,154,031 $22,764,895,217 -20%
1963 $3,535,949,089 $25,199,765,384 19.2%
1964 $4,024,344,853 $27,199,917,741 13.8%
1965 $4,329,084,429 $29,647,352,060 7.57%
1966 $4,703,300,098 $29,623,738,826 8.64%
1967 $4,762,386,783 $30,510,977,644 1.26%
1968 $5,458,427,928 $35,466,555,951 14.6%
1969 $6,297,852,761 $40,277,843,296 15.4%
1970 $7,406,712,876 $43,221,080,450 17.6%
1971 $7,052,544,000 $47,954,251,679 -4.78%
1972 $9,222,557,539 $53,779,040,921 30.8%
1973 $11,902,574,259 $56,783,925,432 29.1%
1974 $17,172,607,138 $60,461,344,100 44.3%
1975 $16,141,767,373 $62,421,996,171 -6%
1976 $15,956,349,550 $62,623,309,265 -1.15%
1977 $18,257,113,904 $63,271,647,907 14.4%
1978 $17,701,286,907 $66,786,442,968 -3.04%
1979 $22,609,741,060 $70,932,422,328 27.7%
1980 $25,395,256,478 $72,117,307,131 12.3%
1981 $26,882,009,819 $75,968,318,466 5.85%
1982 $29,255,285,401 $77,550,358,896 8.83%
1983 $32,675,755,462 $80,155,353,983 11.7%
1984 $30,645,607,293 $80,903,374,864 -6.21%
1985 $28,905,736,367 $84,169,395,855 -5.68%
1986 $35,834,154,874 $87,696,215,125 24%
1987 $43,049,543,635 $93,957,471,742 20.1%
1988 $52,650,948,910 $96,691,649,504 22.3%
1989 $52,443,479,454 $97,247,381,691 -0.39%
1990 $62,016,729,541 $104,361,221,373 18.3%
1991 $70,998,755,007 $112,424,289,466 14.5%
1992 $79,457,685,757 $121,147,589,382 11.9%
1993 $79,855,877,174 $126,134,940,469 0.5%
1994 $90,740,103,829 $135,504,048,695 13.6%
1995 $105,497,418,059 $144,451,278,945 16.3%
1996 $115,116,595,545 $152,886,422,507 9.12%
1997 $119,459,826,347 $158,409,209,239 3.77%
1998 $120,547,409,279 $164,922,938,836 0.91%
1999 $121,417,185,062 $170,360,909,595 0.72%
2000 $136,512,300,542 $184,981,435,200 12.4%
2001 $135,002,039,613 $185,495,549,158 -1.11%
2002 $125,332,331,884 $185,246,850,388 -7.16%
2003 $131,408,914,824 $187,931,184,127 4.85%
2004 $140,047,984,605 $196,666,032,830 6.57%
2005 $147,519,922,009 $205,295,323,131 5.34%
2006 $158,900,547,825 $216,795,201,343 7.71%
2007 $184,681,214,673 $230,503,919,634 16.2%
2008 $221,231,658,863 $237,930,977,208 19.8%
2009 $213,403,181,853 $240,875,924,093 -3.54%
2010 $239,679,036,634 $254,206,817,527 12.3%
2011 $268,094,998,225 $268,235,973,748 11.9%
2012 $263,589,172,712 $274,800,159,647 -1.68%
2013 $298,478,070,673 $286,027,695,014 13.2%
2014 $315,017,088,117 $296,827,610,046 5.54%
2015 $303,469,434,072 $303,469,434,072 -3.67%
2016 $321,940,971,558 $317,003,511,449 6.09%
2017 $358,451,839,053 $330,783,435,889 11.3%
2018 $376,299,083,108 $344,027,669,320 4.98%
2019 $400,645,216,359 $356,792,803,356 6.47%
2020 $410,768,352,658 $349,579,824,803 2.53%
2021 $489,851,549,972 $382,399,686,302 19.3%
2022 $525,181,008,026 $406,350,386,042 7.21%
2023 $512,184,638,999 $413,772,459,124 -2.47%
2024 $540,379,921,262 $417,380,424,316 5.5%

Economic Statistics of Israel

Israel Rank
Gross domestic product
$540B
2024
28/197
GDP growth
5.5%
2023-2024
102/196
GDP per capita
$54,177
2024
21/197
GDP per capita, PPP
$55,691
2024
36/197
Government debt
$367B
2024
26/185
Debt-to-GDP ratio
69.1%
2025
57/185
Government debt per person
$36,774
2024
18/185
Average annual personal income after taxes
$39,091
2025
19/197
Listed domestic companies
511
2024
17/103
Market capitalization of domestic companies
$331B
2024
26/100
Number of millionaires
179,905
2024
25/34
Millionaire frequency
1 in 36
2024
16/34
Number of billionaires
41
2025
17/78
Billionaire frequency
1 in 157,239
2025
5/78
Income share by richest 10%
26.6%
2021
94/169
Income share by poorest 10%
2%
2021
137/169
Government expenditure, % of GDP
41.9%
2025
46/195
Consumer prices inflation
3.07%
2023-2024
103/195
Central bank interest rate
4.5%
2024
69/105
Unemployment rate
2.9%
2024
153/196
Population
10224104
96/197

Israel's GDP per capita

Israel has a GDP per capita of $54,177, ranking 21/197, a GDP per capita based on purchasing power parity (PPP) of $55,691, ranking 36/197, and a median annual after tax income of $39,091, ranking 19/197.

GDP per capita
GDP per capita, PPP
Year Current $
GDP per capita GDP per capita, PPP
1960 $1,452 -
1961 $1,697 -
1962 $1,294 -
1963 $1,486 -
1964 $1,626 -
1965 $1,689 -
1966 $1,789 -
1967 $1,735 -
1968 $1,947 -
1969 $2,189 -
1970 $2,490 -
1971 $2,298 -
1972 $2,930 -
1973 $3,631 -
1974 $5,085 -
1975 $4,672 -
1976 $4,516 -
1977 $5,053 -
1978 $4,797 -
1979 $5,972 -
1980 $6,549 -
1981 $6,795 -
1982 $7,258 -
1983 $7,960 -
1984 $7,369 -
1985 $6,829 -
1986 $8,335 -
1987 $9,853 -
1988 $11,853 -
1989 $11,608 -
1990 $13,308 $15,697
1991 $14,346 $16,461
1992 $15,510 $17,526
1993 $15,179 $18,190
1994 $16,807 $19,448
1995 $19,026 $20,610
1996 $20,224 $21,653
1997 $20,469 $22,281
1998 $20,189 $22,913
1999 $19,823 $23,415
2000 $21,707 $25,783
2001 $20,966 $25,813
2002 $19,076 $26,101
2003 $19,643 $24,678
2004 $20,568 $26,071
2005 $21,287 $25,701
2006 $22,527 $26,366
2007 $25,721 $28,266
2008 $30,269 $28,084
2009 $28,508 $28,097
2010 $31,439 $29,456
2011 $34,523 $31,314
2012 $33,321 $32,484
2013 $37,034 $34,827
2014 $38,343 $34,816
2015 $36,213 $35,869
2016 $37,672 $38,189
2017 $41,138 $39,471
2018 $42,363 $40,190
2019 $44,251 $41,325
2020 $44,576 $40,955
2021 $52,271 $46,162
2022 $54,950 $53,564
2023 $52,004 $53,401
2024 $54,177 $55,691

Israel's government spending, deficit, and chart

This chart shows Israel's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 50 years, Israel recorded a fiscal deficit in 49 years — average annual deficit equal to -7.24% of GDP. In 2024, government spending reached $237B (41.9% of GDP), with a deficit of -5.71%.

The national debt reached $367B, ranking 26th out of 185 countries by total size, with a debt-to-GDP ratio of 69.1%, ranking 57th.

Government spending
Government debt
Deficit/surplus
Year % of GDP
Government spending Government debt Government deficit/surplus
1950 18.8% - -10.7%
1951 17.7% - -8.13%
1952 17.2% - -7.19%
1953 19.3% - -8.32%
1954 20.2% - -7.84%
1955 23.9% - -4.3%
1956 25.9% - -9.3%
1957 23.2% - -7.17%
1958 28.7% - -8.31%
1959 30.1% - -7.23%
1960 30.4% - -6.62%
1961 30.3% - -5.86%
1962 27.7% - -4.09%
1963 26.9% - -4.41%
1964 28.2% - -3.65%
1965 27.8% - -2.72%
1966 29.6% - -4.35%
1967 33.9% - -7.68%
1968 39.4% - -11.7%
1969 41.1% - -15.3%
1970 41.6% - -16%
1971 - - -16%
1972 - 63.9% -16%
1973 - 62.1% -16%
1974 - 79.8% -16%
1975 62% 85.1% -19.6%
1976 66.3% 97.4% -19.4%
1977 69.1% 142% -20.3%
1978 62.2% 133.6% -14.7%
1979 70.1% 155.5% -16.7%
1980 69.4% 154.3% -19.6%
1981 71.8% - -23.5%
1982 69.7% - -13.8%
1983 - 260.5% -11.4%
1984 - 284% -13.7%
1985 65.2% 199% -14.2%
1986 55.7% 162.5% -7.51%
1987 52.8% 143.2% -7.47%
1988 46.5% 145.4% -7.57%
1989 47.5% 147.4% -9.03%
1990 46.8% 138.3% -9.67%
1991 34.4% 123.7% -7.04%
1992 44.1% 119.6% -8%
1993 42.2% 118.3% -5.62%
1994 41.7% 110.2% -5.62%
1995 52.8% 102.3% -4.28%
1996 53.2% 100.3% -5.97%
1997 52.6% 99.3% -4.84%
1998 55% 101% -7.99%
1999 53.6% 94.8% -6.26%
2000 43.4% 77.1% -0.8%
2001 46.1% 81% -4.05%
2002 49.9% 87.1% -8.21%
2003 45.3% 89.5% -5.02%
2004 42.9% 88.2% -3.4%
2005 42.3% 85.2% -2.74%
2006 41.5% 77.5% -0.95%
2007 40.1% 70.7% -0.43%
2008 41.2% 70.1% -3.49%
2009 41.3% 72.5% -6.52%
2010 39.6% 68.9% -3.71%
2011 39.3% 67.1% -3.43%
2012 39.5% 66.8% -4.45%
2013 39.6% 65.9% -4.06%
2014 38.2% 64.7% -2.28%
2015 37.5% 63% -1.21%
2016 37.8% 61.6% -1.78%
2017 38.2% 59.6% -1.13%
2018 39.1% 59.9% -3.55%
2019 38.5% 59.1% -3.78%
2020 44.8% 71.1% -10.7%
2021 40% 67.8% -3.37%
2022 36.9% 60.5% 0.32%
2023 39.4% 61.6% -5.07%
2024 43.9% 67.9% -8.29%
2025 41.9% 69.1% -5.71%

Inflation rate by year

Over the past 20 years, Israel has had an average annual inflation rate of 1.75%. In 2024, inflation was 3.07%. The bar chart below shows consumer price inflation by year.

Year Inflation
1960 2.23%
1961 6.79%
1962 9.41%
1963 6.58%
1964 5.17%
1965 7.71%
1966 7.93%
1967 1.71%
1968 2.08%
1969 2.46%
1970 6.11%
1971 12%
1972 12.9%
1973 20%
1974 39.7%
1975 39.3%
1976 31.3%
1977 34.6%
1978 50.6%
1979 78.3%
1980 131%
1981 116.8%
1982 120.4%
1983 146%
1984 373%
1985 307%
1986 47.6%
1987 19.1%
1988 16.4%
1989 20.3%
1990 17.3%
1991 19.1%
1992 12.1%
1993 10.9%
1994 12.3%
1995 9.93%
1996 11.5%
1997 8.95%
1998 5.49%
1999 5.19%
2000 1.03%
2001 1.12%
2002 5.8%
2003 0.71%
2004 -0.42%
2005 1.34%
2006 2.05%
2007 0.47%
2008 4.53%
2009 3.37%
2010 2.7%
2011 3.49%
2012 1.68%
2013 1.59%
2014 0.47%
2015 -0.62%
2016 -0.54%
2017 0.25%
2018 0.81%
2019 0.82%
2020 -0.58%
2021 1.48%
2022 4.41%
2023 4.23%
2024 3.07%

Balance of trade

Israel Rank
Current account balance
$16.7B
2024
21/189
Current account balance, % of GDP
+3.09%
2024
42/189
Goods imports
$96.5B
2024
39/188
Goods exports
$70.2B
2024
46/188
Service imports
$43.9B
2024
33/188
Service exports
$83B
2024
24/188
Imports of goods and services, % of GDP
26%
2024
147/180
Exports of goods and services, % of GDP
28.4%
2024
119/193

Israel's top 10 trading partners

Israel's biggest trading partner accounting for 20.3%% of all exports and imports is the United States, with a trade balance between the two of +$7.91B — Israel exports $17.4B worth of goods and services to the United States and imports $9.44B.

Below is the list of the top 10 trade partners of Israel.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 United States $26.8B 20.3% $17.4B $9.44B Machinery & equipment Machinery & equipment
2 China $22B 16.6% $2.86B $19.1B Machinery & equipment Machinery & equipment
3 Germany $8B 6.06% $2.37B $5.62B Machinery & equipment Machinery & equipment
4 Italy $4.84B 3.66% $1.21B $3.63B Chemicals & pharma Machinery & equipment
5 India $4.39B 3.33% $2.32B $2.08B Machinery & equipment Precious metals & jewellery
6 Netherlands $4.28B 3.24% $2.75B $1.53B Machinery & equipment Machinery & equipment
7 Ireland $4.08B 3.09% $3.26B $816M Machinery & equipment Chemicals & pharma
8 France $3.64B 2.76% $1.43B $2.21B Machinery & equipment Machinery & equipment
9 United Kingdom $3.54B 2.68% $1.57B $1.97B IT & IP services Machinery & equipment
10 Turkey $3.47B 2.63% $599M $2.87B Chemicals & pharma Machinery & equipment

Israel's top 10 exports

Israel Rank
Machinery & equipment $28.3B 34/193
IT & IP services $21.1B 14/183
Business & finance services $21.1B 22/188
Transport & tourism services $13.7B 43/188
Chemicals & pharma $10B 34/193
Raw materials & minerals $7.73B 63/193
Precious metals & jewellery $6.64B 25/190
Government & miscellaneous services $3.28B 5/180
Textiles & consumer goods $2.53B 52/193
Weapons & explosives $1.79B 6/184

Israel's top 10 imports

Israel Rank
Machinery & equipment $36.1B 39/193
Transport & tourism services $19.1B 36/188
Raw materials & minerals $11.6B 49/193
Chemicals & pharma $11.2B 42/193
Business & finance services $9.52B 37/188
Textiles & consumer goods $8.27B 39/193
Metals $5.86B 44/193
Processed food, beverages & tobacco $4.7B 42/193
Precious metals & jewellery $4.25B 23/193
IT & IP services $3.33B 40/182

Economic freedom indices

Israel Rank
Economic freedom 69.9 37/197
Property rights 77.2 40/182
Government integrity 63.9 40/182
Judicial effectiveness 68.1 40/182
Tax burden 60.8 166/181
Government spending 55.6 134/180
Fiscal health 81.7 63/181
Business freedom 73.4 58/182
Labor freedom 58.3 76/182
Monetary freedom 77.3 17/180
Trade freedom 82.8 18/181
Investment freedom 70 31/181
Financial freedom 70 26/181

Israel's economic freedom by year

Israel is ranked 31/180 for economic freedom with a score of 69.9, compared to 57/163 and a score of 62.6 in 2005.

Economic freedom
Judicial effectiveness
Tax burden
Government spending
Fiscal health
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
1995 61.5 - 44.8 30 -
1996 62 - 51.1 27.7 -
1997 62.7 - 51.7 32 -
1998 68 - 52.2 32.3 -
1999 68.3 - 52.9 28.8 -
2000 65.5 - 52.8 9.3 -
2001 66.1 - 53.1 30.9 -
2002 66.9 - 54.8 33.7 -
2003 62.7 - 52.7 10.9 -
2004 61.4 - 52.7 7.6 -
2005 62.6 - 53.9 15.1 -
2006 64.4 - 55.2 28.3 -
2007 64.8 - 58 33.4 -
2008 66.3 - 55.9 35.1 -
2009 67.6 - 57.1 35.1 -
2010 67.7 - 58.4 35.4 -
2011 68.5 - 62.3 44.8 -
2012 67.8 - 64.1 41 -
2013 66.9 - 60.2 39.3 -
2014 68.4 - 60.1 40.3 -
2015 70.5 - 61.9 47.8 -
2016 70.7 - 60.6 48.8 -
2017 69.7 82 61 50.5 71.8
2018 72.2 83.1 60.9 51.8 79
2019 72.8 73.4 61.9 52.4 85.3
2020 74 71.8 61 53.5 89.2
2021 73.8 79.8 60 53.8 79.2
2022 68 85 60.4 48.4 23.1
2023 68.9 62.7 60.9 49.1 31.1
2024 70.1 84.4 59.3 50.7 58.6
2025 69.9 68.1 60.8 55.6 81.7

More economic indicators

Israel Rank
Services, % of GDP
72.5%
2024
18/191
Industry, % of GDP
17.3%
2024
150/194
Agriculture, forestry, and fishing, % of GDP
1.28%
2024
165/193
GNI, Atlas method
$528B
2024
28/194
GNI per capita, PPP
$55,250
2024
31/191
Total reserves including gold
$215B
2024
18/177
Net foreign direct investment
-$6.33B
2024
171/188
Net inflows of foreign direct investment
$14.8B
2024
27/193
Net outflows of foreign direct investment
$9.92B
2024
28/187
Poverty at national poverty lines
22%
2020
85/176
Gross capital formation, % of GDP
23.4%
2024
86/176

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GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.