Israel

State of Israel is a parliamentary democracy located in the Middle East. The formal head of state is the president, who is elected by the legislature for a seven-year period, but his powers are largely ceremonial. Executive power is exercised by the prime-minister, who forms the government and is usually the leader of the party that controls the majority in the Knesset, a 120-seat unicameral parliament. Israel ranks as 55th largest economy in the world (by GDP PPP) and is 53rd by GDP per capita. Around 62% of Israel’s merchandise exports are directed to just three markets (United States, European Union and Hong Kong). Total external trade volume is just under 30% of GDP. Israel generally runs a merchandise trade deficit, although the start of natural gas production has reduced reliance on energy imports. The central bank, Bank of Israel (BoI) pursues an inflation-targeting approach to monetary policy and maintains a floating exchange rate regime. Economic weaknesses include: regional instability and security concerns, economic dependence on the U.S. and high short-term external debt.

Names and Codes
Country Name Israel
Country code ISR
Currency Name Israeli new shekel
Currency Code ILS
Currency Symbol ₪; NIS
Subunit NIS 1 = 100 agorot
Key Pair USD/ILS
Forex Quote direct
Central Bank Name Bank of Israel
Central Bank Abb. BoI
Economy and Trade
GDP (USD billion, 2017) 350
GDP per capita (USD, PPP, 2017) 38290
Real GDP growth (2013-17) 3.6
Inflation (2013-17) 0.2
FDI inflows (% GDP, 2013-17) 3.7
Current account balance (% GDP, 2013-17) 3.9
Trade (% GDP, 2014-16) 29.5
Share in world total exports (%, 2016) 0.38
Monetary Policy and Currency
Exchange rate regime Floating
Monetary policy Inflation targeting
Price stability 2.00%
Real Interest Rate -0.20
Currency - global turnover (USD billion, 2016) 15
Currency - global share (%, 2016) 0.30
Key Pair - global turnover (USD billion, 2016) n/a
Key Pair - global share (%, 2016) N/A
Ranking - Economy
GDP per capita (USD, PPP, 2017)
Real GDP growth (2013-17)
Current account balance (% GDP, 2013-17)
Trade (% GDP, 2014-16)
Ranking - Currency and Monetary Policy
Currency - global turnover (USD billion, 2016)
Key Pair - global turnover (USD billion, 2016)
Real Interest Rate
Inflation (2013-17)
International Trade
Main Export (%, 2015)
Main Import (%, 2015)