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Economy of Israel vs Malaysia compared: GDP & Debt

Updated on by Georank team

Israel has a GDP of $540B compared to $422B for Malaysia, ranking 29/197 and 38/197 by economy size, respectively.

Israel has $366B in government debt (67.6% of GDP), compared to $296B (70.1% of GDP) in Malaysia.

Israel vs Malaysia GDP by year

Israel
Malaysia
1x
Year GDP, current $
Israel Malaysia
2024 $540,379,921,262 $422,227,005,429
2023 $512,184,638,999 $399,949,418,753
2022 $525,181,008,026 $407,830,525,990
2021 $489,851,549,972 $373,784,553,030
2020 $410,768,352,658 $337,456,163,961
2019 $400,645,216,359 $365,177,721,022
2018 $376,299,083,108 $358,788,845,713
2017 $358,451,839,053 $319,109,094,160
2016 $321,940,971,558 $301,256,033,870
2015 $303,469,434,072 $301,355,266,965
2014 $315,017,088,117 $338,066,095,097
2013 $298,478,070,673 $323,276,235,524
2012 $263,589,172,712 $314,443,047,642
2011 $268,094,998,225 $297,951,668,675
2010 $239,679,036,634 $255,017,638,456
2009 $213,403,181,853 $202,257,453,037
2008 $221,231,658,863 $230,811,614,370
2007 $184,681,214,673 $193,549,569,478
2006 $158,900,547,825 $162,692,258,307
2005 $147,519,922,009 $143,534,405,819
2004 $140,047,984,605 $124,749,473,684
2003 $131,408,914,824 $110,202,368,421
2002 $125,332,331,884 $100,845,526,316
2001 $135,002,039,613 $92,783,947,368
2000 $136,512,300,542 $93,789,736,842
1999 $121,417,185,062 $79,148,421,053
1998 $120,547,409,279 $72,167,498,981
1997 $119,459,826,347 $100,005,323,302
1996 $115,116,595,545 $100,855,393,910
1995 $105,497,418,059 $88,705,342,903
1994 $90,740,103,829 $74,478,356,958
1993 $79,855,877,174 $66,894,966,969
1992 $79,457,685,757 $59,167,550,163
1991 $70,998,755,007 $49,143,148,094
1990 $62,016,729,541 $44,024,585,240
1989 $52,443,479,454 $38,847,965,293
1988 $52,650,948,910 $35,272,109,220
1987 $43,049,543,635 $32,181,210,158
1986 $35,834,154,874 $27,734,111,400
1985 $28,905,736,367 $31,199,633,353
1984 $30,645,607,293 $33,942,897,422
1983 $32,675,755,462 $30,347,442,111
1982 $29,255,285,401 $26,804,493,635
1981 $26,882,009,819 $25,004,285,792
1980 $25,395,256,478 $24,488,224,677
1979 $22,609,741,060 $21,213,264,962
1978 $17,701,286,907 $16,358,079,862
1977 $18,257,113,904 $13,139,488,633
1976 $15,956,349,550 $11,050,234,599
1975 $16,141,767,373 $9,298,800,799
1974 $17,172,607,138 $9,496,204,302
1973 $11,902,574,259 $7,662,902,678
1972 $9,222,557,539 $5,043,347,250
1971 $7,052,544,000 $4,244,395,956
1970 $7,406,712,876 $3,864,145,667
1969 $6,297,852,761 $3,664,552,041
1968 $5,458,427,928 $3,330,371,551
1967 $4,762,386,783 $3,188,924,677
1966 $4,703,300,098 $3,143,517,944
1965 $4,329,084,429 $2,956,337,669
1964 $4,024,344,853 $2,674,423,922
1963 $3,535,949,089 $2,510,110,348
1962 $2,966,154,031 $2,001,489,602
1961 $3,708,586,471 $1,901,856,123
1960 $3,070,585,807 $1,916,229,477

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/israel/malaysia | CC BY

GDP per capita in Israel vs Malaysia by year

Israel
GDP per capita

GDP per capita, PPP
Malaysia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Israel Malaysia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $54,177 $57,236 $11,874 $38,779
2023 $52,004 $55,171 $11,386 $36,467
2022 $54,950 $53,619 $11,755 $34,420
2021 $52,271 $46,162 $10,903 $29,823
2020 $44,576 $40,955 $9,958 $27,475
2019 $44,251 $41,325 $10,920 $28,934
2018 $42,363 $40,190 $10,902 $27,794
2017 $41,138 $39,471 $9,863 $26,416
2016 $37,672 $38,189 $9,477 $25,286
2015 $36,213 $35,871 $9,649 $24,526
2014 $38,343 $34,816 $11,013 $24,307
2013 $37,034 $34,827 $10,714 $23,161
2012 $33,321 $32,484 $10,601 $22,639
2011 $34,523 $31,314 $10,217 $21,324
2010 $31,439 $29,456 $8,899 $20,193
2009 $28,508 $28,087 $7,191 $18,923
2008 $30,269 $28,084 $8,372 $19,480
2007 $25,721 $28,307 $7,169 $18,617
2006 $22,527 $26,385 $6,158 $17,426
2005 $21,287 $25,701 $5,556 $16,371
2004 $20,568 $26,078 $4,939 $15,416
2003 $19,643 $24,702 $4,465 $14,387
2002 $19,076 $26,101 $4,184 $13,656
2001 $20,966 $25,806 $3,944 $13,072
2000 $21,707 $25,766 $4,084 $13,027
1999 $19,823 $23,415 $3,528 $11,980
1998 $20,189 $22,927 $3,294 $11,398
1997 $20,469 $22,279 $4,679 $12,469
1996 $20,224 $21,672 $4,837 $11,709
1995 $19,026 $20,642 $4,363 $10,720
1994 $16,807 $19,478 $3,758 $9,806
1993 $15,179 $18,218 $3,462 $9,018
1992 $15,510 $17,553 $3,141 $8,224
1991 $14,346 $16,486 $2,679 $7,583
1990 $13,308 $15,721 $2,469 $6,887
1989 $11,608 - $2,244 -
1988 $11,853 - $2,100 -
1987 $9,853 - $1,977 -
1986 $8,335 - $1,760 -
1985 $6,829 - $2,046 -
1984 $7,369 - $2,300 -
1983 $7,960 - $2,124 -
1982 $7,258 - $1,938 -
1981 $6,795 - $1,866 -
1980 $6,549 - $1,886 -
1979 $5,972 - $1,680 -
1978 $4,797 - $1,327 -
1977 $5,053 - $1,092 -
1976 $4,516 - $940 -
1975 $4,672 - $811 -
1974 $5,085 - $848 -
1973 $3,631 - $701 -
1972 $2,930 - $472 -
1971 $2,298 - $407 -
1970 $2,490 - $380 -
1969 $2,189 - $368 -
1968 $1,947 - $342 -
1967 $1,735 - $335 -
1966 $1,789 - $339 -
1965 $1,689 - $326 -
1964 $1,626 - $303 -
1963 $1,486 - $291.8 -
1962 $1,294 - $238.8 -
1961 $1,697 - $232.9 -
1960 $1,452 - $240.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/israel/malaysia | CC BY

Israel's GDP per capita is $54,177, ranking 21/197, compared to $11,874 in Malaysia, ranking 79/197. Adjusted for purchasing power (GDP per capita PPP), Israel ranks 36th at $57,236, while Malaysia ranks 60th at $38,779.

Economic indicators

Israel Malaysia
Gross domestic product
$540B
2024
$422B
2024
GDP rank
29/197
2024
38/197
2024
GDP growth
0.87%
2023-2024
5.11%
2023-2024
GDP per capita
$54,177
2024
$11,874
2024
GDP per capita rank
21/197
2024
79/197
2024
GDP per capita, PPP
$57,236
2024
$38,779
2024
GDP per capita PPP rank
36/197
2024
60/197
2024
Government debt
$366B
2024
$296B
2024
Debt-to-GDP ratio
67.6%
2024
70.1%
2024
Government debt per person
$36,645
2024
$8,322
2024
Government debt per person rank
18/185
2024
62/185
2024
Average annual personal income after taxes
$43,003
2026
$11,005
2026
Market capitalization of domestic companies
$331B
2024
$449B
2024
Number of millionaires
179,905
2025
n/a
Number of billionaires
41
2025
19
2025
Income share by richest 10%
26.6%
2021
30.9%
2021
Income share by poorest 10%
2%
2021
2.3%
2021
Government expenditure, % of GDP
43.8%
2024
23.9%
2024
Consumer prices inflation
3.07%
2023-2024
1.83%
2023-2024
Central bank interest rate
4.5%
2024
2.75%
2025
Unemployment rate
2.9%
2024
3.93%
2022
Population
10290887
36512221

Spending and national debt comparison by year

Israel
Spending

Debt
Malaysia
Spending

Debt
1x
Year % of GDP
Israel Malaysia
Government spending Government debt Government spending Government debt
2024 43.8% 67.6% 23.9% 70.1%
2023 39.3% 61.3% 24.9% 69.7%
2022 36.9% 60.3% 24.6% 65.5%
2021 40% 67.7% 24.5% 69.2%
2020 44.8% 71.1% 25% 67.7%
2019 38.7% 59.3% 23.6% 57.1%
2018 39.2% 60.1% 22.8% 55.6%
2017 38.3% 59.8% 22% 54.4%
2016 37.9% 61.7% 22.9% 55.8%
2015 37.6% 62.8% 24.7% 57%
2014 38.3% 64.9% 26% 55.4%
2013 39.7% 66% 27.8% 55.7%
2012 39.6% 66.9% 28.5% 53.8%
2011 39.3% 67.2% 27.1% 51.9%
2010 39.7% 69% 26.6% 51.2%
2009 41.4% 72.6% 30.9% 50.4%
2008 41.2% 70.2% 26.9% 39.4%
2007 40.2% 70.8% 25.9% 39.3%
2006 41.6% 77.7% 25.6% 39.7%
2005 42.3% 85.2% 24.5% 40.8%
2004 43% 88.3% 25.9% 42%
2003 45.4% 89.7% 28.1% 41.4%
2002 50% 87.2% 27.1% 39.5%
2001 46.1% 81.1% 28.2% 38.1%
2000 43.4% 77.2% 25.6% 32.5%
1999 53.6% 94.8% 24.6% 34.4%
1998 55% 101% 23.1% 33.6%
1997 52.6% 99.3% 21.2% 29.6%
1996 53.2% 100.3% 22.4% 32.8%
1995 52.8% 102.3% 22.6% 38.2%
1994 41.7% 110.2% 23.3% 43.7%
1993 42.2% 118.3% 24.6% 51.1%
1992 44.1% 119.6% 28.2% 59.1%
1991 34.4% 123.7% 27.4% 67.3%
1990 46.8% 138.3% 30.5% 74.1%
1989 47.5% 147.4% - -
1988 46.5% 145.4% - -
1987 52.8% 143.2% - -
1986 55.7% 162.5% - -
1985 65.2% 199% - -
1984 - 284% - -
1983 - 260.5% - -
1982 69.7% - - -
1981 71.8% - - -
1980 69.4% 154.3% - -
1979 70.1% 155.5% - -
1978 62.2% 133.6% - -
1977 69.1% 142% - -
1976 66.3% 97.4% - -
1975 62% 85.1% - -
1974 - 79.8% - -
1973 - 62.1% - -
1972 - 63.9% - -
1971 - - - -
1970 41.6% - - -
1969 41.1% - - -
1968 39.4% - - -
1967 33.9% - - -
1966 29.6% - - -
1965 27.8% - - -
1964 28.2% - - -
1963 26.9% - - -
1962 27.7% - - -
1961 30.3% - - -
1960 30.4% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

GeoRank.org/economy/israel/malaysia | CC BY

In 2024, Israel's government spending was $237B, accounting for 43.8% of its GDP, while Malaysia spent $101B, or 23.9% of GDP.

Debt-to-GDP ratio is 67.6% in Israel and 70.1% in Malaysia, ranking 62/185 and 58/185, respectively.

Government deficit by year

Deficit/surplus
Israel

Malaysia
1x
Year Deficit/surplus, % of GDP
Israel Malaysia
2024 -8.26% -3.95%
2023 -5.06% -3.97%
2022 0.32% -4.56%
2021 -3.37% -6.03%
2020 -10.7% -4.9%
2019 -3.79% -2.01%
2018 -3.56% -2.64%
2017 -1.13% -2.41%
2016 -1.79% -2.6%
2015 -1.21% -2.55%
2014 -2.29% -2.63%
2013 -4.06% -3.48%
2012 -4.46% -3.1%
2011 -3.43% -3.57%
2010 -3.72% -4.32%
2009 -6.53% -5.88%
2008 -3.5% -3.4%
2007 -0.43% -2.57%
2006 -0.95% -2.6%
2005 -2.74% -2.83%
2004 -3.4% -3.35%
2003 -5.03% -4.6%
2002 -8.22% -3.96%
2001 -4.06% -4.36%
2000 -0.8% -6.05%
1999 -6.26% -3%
1998 -7.99% -0.63%
1997 -4.84% 4.84%
1996 -5.97% 3.27%
1995 -4.28% 3.1%
1994 -5.62% 5.45%
1993 -5.62% 3.44%
1992 -8% 1.81%
1991 -7.04% 1.6%
1990 -9.67% 0.15%
1989 -9.03% -
1988 -7.57% -
1987 -7.47% -
1986 -7.51% -
1985 -14.2% -
1984 - -
1983 - -
1982 -13.8% -
1981 -23.5% -
1980 -19.6% -
1979 -16.7% -
1978 -14.7% -
1977 -20.3% -
1976 -19.4% -
1975 -19.6% -
1974 - -
1973 - -
1972 - -
1971 - -
1970 -16% -
1969 -15.3% -
1968 -11.7% -
1967 -7.68% -
1966 -4.35% -
1965 -2.72% -
1964 -3.65% -
1963 -4.41% -
1962 -4.09% -
1961 -5.86% -
1960 -6.62% -
1959 -7.23% -
1958 -8.31% -
1957 -7.17% -
1956 -9.3% -
1955 -4.3% -
1954 -7.84% -
1953 -8.32% -
1952 -7.19% -
1951 -8.13% -
1950 -10.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-02-20).

GeoRank.org/economy/israel/malaysia | CC BY

In 2024, Israel's government deficit, the difference between spending and revenue, was $44.6B, equivalent to 8.26% of GDP. This compares to Malaysia's deficit of $16.7B, or 3.95% of GDP.

Over the past 35 years, Israel recorded a fiscal deficit in 34 of those years, while Malaysia ran a deficit in 27 years. On average, Israel posted an annual deficit equal to 4.5% of GDP, compared to deficit of 2.07% of GDP for Malaysia.

Inflation comparison by year

Inflation
Israel

Malaysia
1x
Year Consumer prices inflation
Israel Malaysia
2024 3.07% 1.83%
2023 4.23% 2.49%
2022 4.41% 3.38%
2021 1.48% 2.48%
2020 -0.58% -1.14%
2019 0.82% 0.66%
2018 0.81% 0.88%
2017 0.25% 3.87%
2016 -0.54% 2.09%
2015 -0.62% 2.1%
2014 0.47% 3.14%
2013 1.59% 2.11%
2012 1.68% 1.66%
2011 3.49% 3.17%
2010 2.7% 1.62%
2009 3.37% 0.58%
2008 4.53% 5.44%
2007 0.47% 2.03%
2006 2.05% 3.61%
2005 1.34% 2.98%
2004 -0.42% 1.42%
2003 0.71% 1.09%
2002 5.8% 1.81%
2001 1.12% 1.42%
2000 1.03% 1.53%
1999 5.19% 2.74%
1998 5.49% 5.27%
1997 8.95% 2.66%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/israel/malaysia | CC BY

Over the past 28 years, Israel has recorded an average annual inflation rate of 2.25%, compared with 2.25% in Malaysia. In 2024, inflation was 3.07% in Israel and 1.83% in Malaysia.

Top exports between countries

Israel
Export category Export value
Raw materials & minerals $48.7M
Machinery & equipment $18.7M
Chemicals & pharma $2.79M
Metals $1.11M
Textiles & consumer goods $424K
Raw agricultural goods $37K
Processed food, beverages & tobacco $28K
Wood & paper products $9K
Miscellaneous $6K
Precious metals & jewellery $6K
Malaysia
Export category Export value

Balance of trade

Israel Malaysia
Current account balance
$15.5B
2024
$7.15B
2024
Current account balance ranking
21/190
2024
26/190
2024
Current account balance, % of GDP
+2.86%
2024
+1.69%
2024
Goods imports
$96.3B
2024
$223B
2024
Goods exports
$70B
2024
$248B
2024
Service imports
$44.4B
2024
$56.4B
2024
Service exports
$83.7B
2024
$53.4B
2024
Imports of goods and services, % of GDP
26%
2024
66%
2024
Exports of goods and services, % of GDP
28.4%
2024
71.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Israel Malaysia
Economic freedom 68.4 68
Economic freedom ranking 47/197 51/197
Property rights 73.1 62.7
Government integrity 66.2 52.9
Judicial effectiveness 68.1 63.4
Tax burden 60.2 83.5
Government spending 52 82
Fiscal health 60.8 62.5
Business freedom 72.4 79.6
Labor freedom 56.8 55.4
Monetary freedom 78.2 80.8
Trade freedom 82.8 83
Investment freedom 70 60
Financial freedom 80 50

Economic freedom comparison by year

Israel
Malaysia
1x
Year Economic freedom index
Israel Malaysia
2026 68.4 68
2025 69.9 67.1
2024 70.1 65.7
2023 68.9 67.3
2022 68 68.1
2021 73.8 74.4
2020 74 74.7
2019 72.8 74
2018 72.2 74.5
2017 69.7 73.8
2016 70.7 71.5
2015 70.5 70.8
2014 68.4 69.6
2013 66.9 66.1
2012 67.8 66.4
2011 68.5 66.3
2010 67.7 64.8
2009 67.6 64.6
2008 66.3 63.9
2007 64.8 63.8
2006 64.4 61.6
2005 62.6 61.9
2004 61.4 59.9
2003 62.7 61.1
2002 66.9 60.1
2001 66.1 60.2
2000 65.5 66
1999 68.3 68.9
1998 68 68.2
1997 62.7 66.8
1996 62 69.9
1995 61.5 71.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/israel/malaysia | CC BY

The Economic Freedom Index for Israel is 68.4, ranking 47/197, compared to 68 for Malaysia, ranking 51/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Israel Malaysia
Services, % of GDP
72.5%
2024
53.7%
2024
Industry, % of GDP
17.3%
2024
37%
2024
Agriculture, forestry, and fishing, % of GDP
1.28%
2024
8.13%
2024
GNI, Atlas method
$528B
2024
$414B
2024
GNI per capita, PPP
$56,790
2024
$37,450
2024
Total reserves including gold
$215B
2024
$116B
2024
Total reserves ranking
18/177
2024
24/177
2024
Net foreign direct investment
-$4.86B
2024
-$2.55B
2024
Net inflows of foreign direct investment
$14.8B
2024
$15.6B
2024
Net outflows of foreign direct investment
$9.92B
2024
$13B
2024
Poverty at national poverty lines
22%
2020
5.8%
2023
Gross capital formation, % of GDP
23.4%
2024
22%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/israel/malaysia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.