Economic Highlights Presentation, Q1 2011

STATE OF ISRAELMINISTRY OF FINANCEINTERNATIONAL AFFAIRS DEPARTMENT

ECONOMIC HIGHLIGHTSMarch 2011, 1st Quarter 2011

Click to start

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ContentsEconomic Figures

Balances

International Comparisons

Israel and the OECD

International Treaties

Relevant Sites

Contact Us

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Economic FiguresGDP and Business GDPMajor GDP ComponentsGrowth: Israel compared to the WorldExports of Goods and ServicesForeign InvestmentsUnemployment & Participation RatesInflation RateGrowth of Main GDP Components 2008Main Economic IndicatorsMain Trading PartnersInflation Rate WorldwideBACK TO CONTENTS

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*Current Prices, using a public exchange rate of 1$ = 3.56 NIS ** EstimatedMain Economic Indicators

Source: Ministry of Finance, IMFCONTINUE

Criteria200920102010Q12010Q22010Q32010Q4GDP(current prices in $B)*197.9207.050.751.452.052.9Real GDP Growth Rate(%)0.8%4.6%5.1%5.4%4.6%7.7% GDP per Capita (PPP adjusted)*28,581$29,404$**--------GDP per Capita Growth Rate (%, 2005 prices)-1.1%4.1%3.3%3.6%2.6%5.5%Exports (Goods & Services) $B*(As Percentage of GDP)78.2(39.5%)88.94(43%)21.4(42.3%)22.3(43.4%)22.5(43.2%)23.0(43.5%)Imports (Goods & Services) $B*(As Percentage of GDP)73.8(37.3%)83.1(40.1%)20.2(39.9%)20.6(40.2%)20.6(39.7%)21.2(40.1%)Unemployment Rate(%)7.6%6.6%6.9%6.5%6.6%6.6%

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Source: Ministry of Finance

CONTINUEMain Economic Indicators

Criteria2007200820092010Total Gross Debt(% of GDP)77.8%77.1%79.3%76.5%Government Expenditure (Percentage of GDP)43.6%43.0%43.0%42.7%Current Account Surplus(% of GDP)2.9%0.8%3.6%3.1%Inflation Rate(CPI, yearly average)0.5%4.6%3.3%2.7%

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Main Economic IndicatorsCONTINUEAll 3 rating firms have reaffirmed Israels rating, without any downgrade,during the global economic crisis in 2009.

Rating FirmTermDomestic BondsForecastOverseas BondsRatingRatingMoody'sLongA1StableA1Short-P1Standard & Poor'sLongAA-StableAShortA-1+A-1FitchLongA+StableAShort-F1

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GDP and Business GDP

Annual rate of change (%), in Constant PricesIn 2010, Israel has recovered from the globalIn the 4th quarter of 2010, Israel economic crisis, and is back to previous years experienced exceptional growth rates growth rates Source: Ministry of Finance.

CONTINUE

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GDP GrowthIsrael compared to Advanced Economies* (Annual rate of change (%), in constant prices)Source: Ministry of FinanceSince 2004, Israels growth rate has exceeded the average growth rate of advanced economies.

CONTINUEIn 2009, as most of the world experienced a decline in GDP, Israel experienced a 0.8% growth in its GDP

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Major GDP Components

(Annual rate of change (%), in constant prices)Source: Ministry of Finance

CONTINUEIn 2010, Investment in Fixed Assets and Export of Goods and Services recovered sharply, after they were contracted severely in2009 due to the economic crisis.

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Source: Ministry of FinanceExports of Goods and Services ($B)*

CONTINUE* In Current Prices

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Israels Main Trading Partners

(US$ Billions)Source: Central Bureau of StatisticsExports

CONTINUE* Since July 1997 the data on trade with Hong-Kong is added to the data on China Imports

1

2016.8USAUSAUSA

5.43.9China*China*China*

4.62.4Belgium & LuxembourgBelgium & LuxembourgBelgium & Luxembourg

2.41.8IndiaIndiaIndia

21.6NetherlandsNetherlandsNetherlands

21.4GermanyGermanyGermany

1.91.4UKUKUK

1.31.1FranceFranceFrance

1.71.1ItalyItalyItaly

1.61.1TurkeyTurkeyTurkey

2008

2009

Sheet1

USAChina*Belgium & LuxembourgIndiaNetherlandsGermanyUKFranceItalyTurkey

200820.05.44.62.42.02.01.91.31.71.6

200916.83.92.41.81.61.41.41.11.11.1

1

85.8USAUSAUSA

4.23.5China*China*China*

3.93.4GermanyGermanyGermany

43.3SwitzerlandSwitzerlandSwitzerland

4.42.7Belgium & LuxembourgBelgium & LuxembourgBelgium & Luxembourg

2.62.1ItalyItalyItaly

2.51.9UKUKUK

2.51.9NetherlandsNetherlandsNetherlands

2.21.5JapanJapanJapan

1.91.4FranceFranceFrance

2008

2009

Sheet1

USAChina*GermanySwitzerlandBelgium & LuxembourgItalyUKNetherlandsJapanFrance

200884.23.944.42.62.52.52.21.9

20095.83.53.43.32.72.11.91.91.51.4

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Israels Main Trading Partners

(US$ Billions)Source: Central Bureau of Statistics

CONTINUEImportsExports

1

23.59.46.3

26.811.98.3

29.713.78.7

22.910.16.7

Europe

Asia

North America

Sheet1

2006200720082009

Europe23.526.829.722.9

Asia9.411.913.710.1

North America6.38.38.76.7

1

15.58.618.8

19.19.819.9

21.912.221.2

15.49.517.6

Europe

Asia

North America

Sheet1

2006200720082009

Europe15.519.121.915.4

Asia8.69.812.29.5

North America18.819.921.217.6

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Net Foreign Investments in Israel (In $ Billion)* 2006 is exceptional due to a large acquisition by Teva Pharmaceutical Industries LtdSource: Ministry of Finance

CONTINUE

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Unemployment and Participation (As % of Total Labor Force)Source: Ministry of Finance

CONTINUEAs Israel grows out of the global recession, since the 2nd quarter of 2009 unemployment is decreasing, hand in hand with an increase in participation rate since the 1st quarter of 2010.

1

0.0750.569

0.0790.568

0.0770.569

0.0720.568

0.0690.566

0.0650.571

0.0660.577

Unemployment Rate

Participation in the Labor Force

6.7%

56.6%

Sheet1

Q2Q3Q42008 Q1Q2Q32009 Q1Q2Q3Q42010 Q1Q2Q3Q4

Unemployment Rate7.6%7.3%6.7%6.1%5.9%6.0%7.5%7.9%7.7%7.2%6.9%6.5%6.6%6.6%

Participation in the Labor Force56.5%56.5%56.1%56.5%56.4%56.4%56.9%56.8%56.9%56.8%56.6%57.1%57.7%57.8%

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Inflation Rate

(Rate of Change in CPI, yearly average)Source: Central Bureau of Statistics, Ministry of Finance

CONTINUE

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Inflation Rate Worldwide

(Annual rate of change in CPI)

Sources: Ministry of Finance, IMF

CONTINUEThe Israeli economy demonstrated a high level of stability compared to other countries throughout the global economic crisis

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Source: Ministry of FinanceGrowth of Main GDP Components for Previous Year

NEXT CHAPTER: BALANCESBACK TO CONTENTS

Criteria2010Real GDP+ 4.6%Business GDP+ 5.4%Exports+ 13.8%Private Consumption+ 1.4%Public Consumption+ 2.2%Investment in Fixed Assets+ 12.4 %

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BalancesBudget Deficit Target and ExecutionGross Public DebtBACK TO CONTENTSBudget Deficit and General Government ExpenditureGross Tax BurdenCurrent Account and Net Foreign Debt

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Gross Public Debt

(as percentage of GDP)Source: Ministry of Finance Since 2003, gross public debt has been on a consistent downward trend, only interrupted by the extraordinary circumstances surrounding the 2009 global economic crisisCONTINUE

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Budget Deficit Target and Execution(in NIS million, Current prices)Source: Ministry of Finance CONTINUE

For the first time in its history, Israel enacted a biennialbudget for the years 2009-2010

In both years, Israel came in under budget target.

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Source: Ministry of FinanceBudget Deficit and General Government ExpenditureBudget Deficit(% of GDP)General Government Expenditure (% of GDP)CONTINUE

2

0.453

0.447

0.436

0.43

0.43

0.427

1

Budget Deficit

200520062007200820092010

Government Expenditure45.30%44.70%43.60%43.00%43.00%42.70%

2

3

1

0.018

0.009

0

0.022

0.052

0.037

1

20052006200720082009201020070.80%20070.02%

Budget Deficit1.80%0.90%0.00%2.20%5.20%3.70%20061.20%20061.00%

20051.60%20051.90%

20043.00%20043.60%

20034.80%20035.40%

20025.40%20023.60%

20014.60%20014.20%

20002.40%20000.70%

19993.70%19993.20%

1

2

3

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Current Account Balance and Net Foreign DebtSource: Ministry of Finance.Since 2003, the current account balance is positive, and is accompanied by a decrease of net foreign debtCurrent Account Surplus (% of GDP)Net Foreign Surplus*(% of GDP)CONTINUE

*Current Prices, using a public exchange rate of 1$ = 3.56 NIS

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Source: Ministry of Finance, OECDGross Tax Burden (as % of GDP)OECD countries average: 34.8% (2008 average)NEXT CHAPTER: INTERNATIONAL COMPARISONSBACK TO CONTENTS

1

0.355

0.356

0.359

0.362

0.338

0.314

1

2004200520062007200820092010

35.50%35.60%35.90%36.20%33.80%31.40%32.50%

2

3

MBD000CDBDA.

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International ComparisonsNASDAQ and Tel-Aviv 100 (monthly average)WEF Global Competitive IndexCentral Bank Interest Rates: Israel and U.S.ABACK TO CONTENTSIMD World Competitiveness Yearbook

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Source: International Institute for Management and Development (IMD), World Competitiveness Yearbook 2010IMD World Competitiveness Yearbook 2010The Institute for Management

Development ranked Israel

17th

out of 58 countries for 2010

(Israel was ranked 24th in 2009)

CONTINUE

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Source: International Institute for Management and Development (IMD), World Competitiveness Yearbook 2010

IMD World Competitiveness Yearbook 2010CONTINUE

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Source: World Economic Forum, Global Competitiveness Index, 2010-2011The World Economic Forum

ranked Israel

24th

out of 139 countries

for 2010-2011

CONTINUEWEF Global Competitiveness Index 2010-2011

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Source: World Economic Forum, Global Competitiveness Index, 2010-2011


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Central Bank Interest Rates: Israel and U.S.ASource: Bank of Israel (BOI), Federal ReserveBank of Israel Rate (BOI)U.S. Federal Funds Rate

CONTINUEThe Bank of Israel was the first in the western world to raise interest since the outburst of the economic crisis.

The rate was raised gradually from 0.5% to 3.0%

1

0.0250.01

0.01750

0.010

0.00750

0.0050

0.0050

0.0050

0.0050

0.0050

0.00750

0.00750

0.00750

0.010

0.01250

0.01250

0.01250

0.0150

0.0150

0.0150

0.0150

0.01750

0.01750

0.020

0.020

0.020

0.020

0.02250

0.0250

0.034

Bank of Israel Interest Rate

Federal Reserve Rate

Sheet1

2006 1234567891011122007 1234567891011122008 1234122009 1234567891011122010 1234567891011122011 1234

Bank of Israel Interest Rate4.50%4.75%4.75%5.00%5.25%5.25%5.25%5.50%5.50%5.50%5.25%5.00%4.50%4.25%4.00%4.00%3.75%3.50%3.50%3.75%4.00%4.00%4.00%4.00%4.25%4.25%3.75%3.25%2.50%1.75%1.00%0.75%0.50%0.50%0.50%0.50%0.50%0.75%0.75%0.75%1%1.25%1.25%1.25%1.50%1.50%1.50%1.50%1.75%1.75%2.00%2.00%2.00%2.00%2.25%2.50%3.00%

Federal Reserve Rate4.50%4.50%4.75%4.75%5.00%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%5.25%4.75%4.50%4.50%4.25%3.00%3.00%2.25%2.00%1.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%000000000

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NASDAQ & Tel Aviv 100 (monthly average)Source: Ministry of FinanceTel Aviv 100 corresponds with the NASDAQ to current events

NEXT CHAPTER: ISRAEL AND THE OECDBACK TO CONTENTS

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Israel and the OECDUnemploymentGDP per CapitaReal GDP GrowthExpenditure on R&DIsrael was invited as a full member in the OECD on May 10th, 2010, and officiallyjoined in September 10th, 2010.BACK TO CONTENTS

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Source: OECD

CONTINUEIsrael is ranked 1st of all OECD countries by expenditure on R&D (research & development)

as percentage of GDP (4.864 %), demonstrating innovation, development and creativity.

Expenditure on R&D(as percentage of GDP, 2008)

1

0.3749869665

0.4700050039

0.5791456809

0.6054344701

0.67

0.7224068285

0.88

0.9466198186

0.9669868798

1.0345417354

1.13

1.182221746

1.2058240187

1.2724022318

1.3506078078

1.4300268759

1.4419592889

1.4667519698

1.5115636582

1.615357086

1.6214128148

1.6613511609

1.7103245502

1.842844206

1.8842585287

1.9210990948

2.021599971

2.0574002988

2.2759928063

2.5319982181

2.6530018104

2.6667071774

2.719870584

2.7703731541

2.902218491

3.210354863

3.4424336493

3.4894580139

3.7506957025

4.8644263659

2008 or latest available year

Graph

OECD Factbook 2010: Economic, Environmental and Social Statistics - ISBN 92-64-08356-1 - OECD 2010

Science and technology - Research and Development - Expenditure on R&D

Gross domestic expenditure on R&D2008 or latest available year

As a percentage of GDPMEX0.37Mexico

SVK0.47SlovakRepublic

GRC0.58Greece

POL0.61Poland

CHL0.67Chile

TUR0.72Turkey

IND0.88India

ZAF0.95SouthAfrica

HUN0.97Hungary

RUS1.03RussianFederation

BRA1.13Brazil

ITA1.18Italy

NZL1.21NewZealand

EST1.27Estonia

ESP1.35Spain

IRL1.43Ireland

CHN1.44China

CZE1.47CzechRepublic

PRT1.51Portugal

NOR1.62Norway

LUX1.62Luxembourg

SVN1.66Slovenia

NLD1.71Netherlands

CAN1.84Canada

GBR1.88UnitedKingdom

BEL1.92Belgium

FRA2.02France

AUS2.06Australia

OECD2.28OECDtotal

DEU2.53Germany

ISL2.65Iceland

AUT2.67Austria

DNK2.72Denmark

USA2.77UnitedStates

CHE2.90Switzerland

KOR3.21Korea

JPN3.44Japan

FIN3.49Finland

SWE3.75Sweden

ISR4.86Israel

Graph

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2008 or latest available year

*

Real GDP Growth

(3-year average at end of period)Source: OECD

CONTINUEIsraels 3-year average growth rate is higher then most OECD members.

For Israels year-on-year graph, seeslide no.7

1

0.8578466155

1.0967931351

1.2239139016

1.2513707928

1.3845354146

1.6295682948

1.7286542887

1.8554404844

1.9274089429

2.0282032737

2.1274205982

2.1505498213

2.2295904809

2.3303208932

2.4990909457

2.7163086142

2.8240613483

2.9964911615

2.9975328532

2.997564903

3.0983157464

3.22219604

3.352628678

3.6599315087

3.7176235435

3.9930961887

4.1370292775

4.1573168929

4.164409088

4.3649897532

4.4952583794

4.8316649649

4.9309683821

5.1163245966

5.3575727566

5.9661208033

5.9973536779

7.1276977745

8.4184333199

8.8277861873

11.1876057991

3-year average at end of period

Graph


Production and income - Production - Evolution of GDP

Real GDP growth3-year average at beginning of period3-year average at end of period

Average annual growth in percentageITA1.930.86Italy

PRT4.031.10Portugal

JPN2.101.22Japan

NZL3.131.25NewZealand

DNK3.031.38Denmark

FRA1.801.63France

USA3.601.73UnitedStates

HUN2.261.86Hungary

CAN2.861.93Canada

GBR3.102.03UnitedKingdom

OECD3.072.13OECDtotal

SWE2.662.15Sweden

BEL2.502.23Belgium

DEU1.572.33Germany

NOR4.902.50Norway

IRL9.722.72Ireland

ESP3.032.82Spain

CHE1.033.00Switzerland

NLD3.603.00Netherlands

AUT2.273.00Austria

AUS4.173.10Australia

MEX1.763.22Mexico

FIN4.593.35Finland

GRC2.703.66Greece

ISL3.243.72Iceland

LUX2.913.99Luxembourg

TUR7.234.14Turkey

KOR6.954.16Korea

CHL5.754.16Chile

EST8.004.36Estonia

ZAF3.334.50SouthAfrica

ISR4.264.83Israel

BRA3.234.93Brazil

CZE3.035.12CzechRepublic

SVN4.035.36Slovenia

IDN6.895.97Indonesia

POL6.776.00Poland

RUS-2.547.13RussianFederation

SVK5.708.42SlovakRepublic

IND6.528.83India

CHN10.0611.19China

Graph

1.93096867040.8578466155

4.03287348361.0967931351

2.09898886961.2239139016

3.12793948651.2513707928

3.03319305981.3845354146

1.79878575781.6295682948

3.5966797161.7286542887

2.25641783951.8554404844

2.86118277491.9274089429

3.09987067562.0282032737

3.06568531492.1274205982

2.66153391632.1505498213

2.49567880262.2295904809

2.49872947072.2944020466

1.56586663652.3303208932

4.89875858942.4990909457

9.72452391662.7163086142

3.03138541462.8240613483

1.03049446812.9964911615

3.59874733262.9975328532

2.26652550622.997564903

4.16636818123.0983157464

1.76457197823.22219604

4.59387993743.352628678

2.69796028863.6599315087

3.24212845423.7176235435

2.91215024813.9930961887

7.23313652234.1370292775

6.95088088184.1573168929

5.75167848274.164409088

8.00176674644.3649897532

3.33087607294.4952583794

4.26083540744.8316649649

3.22970032834.9309683821

3.02900744575.1163245966

4.03153333745.3575727566

6.88847996045.9661208033

6.7659056685.9973536779

-2.54106618327.1276977745

5.69504399388.4184333199

6.52447743498.8277861873

10.0647194911.1876057991

3-year average at beginning of period

3-year average at end of period

*

GDP per capita (current prices in US$, current PPPs, 2008)Source: OECD

* EstimatedCONTINUEFor Israels adjusted PPP GDP Per Capita, seeslide no.4Although no final data of the years 2009-2010 exist, it is reasonable to assume a diminishing gap between Israel and the OECD average

1

2779.9

3980

5970.3

10136

10465.8

13952.3

14494.9

14500.9

17294.1

19731.6

20647.6

22140.8

23283.4

24630.6

27036

27657.9

27865.3

27901.8

28896.4

31252.9

31455.4

33089.8

33731.6

34131.5

35287.8

35432.1

35630.9

35918.1

36789.8

36808.3

36964.5

37857.5

38637.5

38975.4

41063.2

41492.9

42782.5

47185.7

58716.9

84713

2008

Graph


Production and income - Production - Size of GDP

GDP per capita2008

US dollars, current prices and PPPs, 2008IND2 780India

IDN3 980Indonesia

CHN5 970China

ZAF10 136SouthAfrica

BRA10 466Brazil

TUR13 952Turkey

CHL14 495Chile

MEX14 501Mexico

POL17 294Poland

HUN19 732Hungary

EST20 648Estonia

SVK22 141SlovakRepublic

PRT23 283Portugal

CZE24 631CzechRepublic

NZL27 036NewZealand

KOR27 658Korea

SVN27 865Slovenia

ISR27 902Israel

GRC28 896Greece

ITA31 253Italy

ESP31 455Spain

FRA33 090France

OECD33 732OECDtotal

JPN34 132Japan

BEL35 288Belgium

DEU35 432Germany

GBR35 631UnitedKingdom

FIN35 918Finland

SWE36 790Sweden

DNK36 808Denmark

ISL36 965Iceland

AUT37 858Austria

AUS38 638Australia

CAN38 975Canada

NLD41 063Netherlands

IRL41 493Ireland

CHE42 783Switzerland

USA47 186UnitedStates

NOR58 717Norway

LUX84 713Luxembourg

Graph

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84 713

2008

*

Source: Ministry of Finance, OECD

Israels unemployment grew mildly compared with some OECD members during 2009, with the global economic crisis in background.

For Israels unemployment, seeNEXT CHAPTER: INTERNATIONAL TREATIESBACK TO CONTENTS

Unemployment Rate (Average 2006-2008 or latest available period)slide no.14

1

2.7333333333

2.8333333333

3.3

3.3

3.7

3.7

3.7666666667

3.9

4

4.3666666667

4.4666666667

4.5666666667

5

5.0333333333

5.0666666667

5.4

5.4333333333

5.6

6

6.1333333333

6.4333333333

6.5666666667

6.8333333333

7

7.2666666667

7.5333333333

7.5666666667

7.6

7.9

8.1

8.3

8.5

8.5

8.9333333333

9.4

10.2

11.4

Average 2006-2008 or latest available period

Graph


Labour - Unemployment - Unemployment rates

Unemployment rates: totalAverage 1995-1997 or first available periodAverage 2006-2008 or latest available period

As a percentage of labour forceISL4.16666666672.7333333333Iceland

NOR4.73333333332.8333333333Norway

NLD5.83333333333.3Netherlands

KOR2.23333333333.3Korea

CHE3.86666666673.7Switzerland

DNK6.13.7Denmark

MEX5.13333333333.7666666667Mexico

NZL6.53333333333.9NewZealand

JPN3.34Japan

AUT4.24.3666666667Austria

AUS8.23333333334.4666666667Australia

LUX2.83333333334.5666666667Luxembourg

USA5.35UnitedStates

IRL11.35.0333333333Ireland

SVN7.06666666675.0666666667Slovenia

EST10.15.4Estonia

GBR7.73333333335.4333333333UnitedKingdom

CZE4.26666666675.6CzechRepublic

OECD7.13333333336OECDtotal

CAN9.46.1333333333Canada

SWE9.36666666676.4333333333Sweden

ITA11.23333333336.5666666667Italy

RUS10.36.8333333333RussianFederation

FIN14.23333333337Finland

ISR7.17.2666666667Israel

HUN9.66666666677.5333333333Hungary

CHL6.23333333337.5666666667Chile

BEL9.57.6Belgium

PRT7.17.9Portugal

BRA8.1Brazil

GRC9.43333333338.3Greece

FRA11.38.5France

DEU8.78.5Germany

TUR8.9333333333Turkey

ESP17.63333333339.4Spain

POL12.210.2Poland

SVK12.066666666711.4SlovakRepublic

&L&Z&F

Graph

4.16666666672.7333333333

4.73333333332.8333333333

5.83333333333.3

2.23333333333.3

3.86666666673.7

6.13.7

5.13333333333.7666666667

6.53333333333.9

3.34

4.24.3666666667

8.23333333334.4666666667

2.83333333334.5666666667

5.35

11.35.0333333333

7.06666666675.0666666667

10.15.4

7.73333333335.4333333333

4.26666666675.6

7.13333333336

9.46.1333333333

9.36666666676.4333333333

11.23333333336.5666666667

10.36.8333333333

14.23333333337

7.17.2666666667

11.26666666677.4333333333

9.66666666677.5333333333

6.23333333337.5666666667

9.57.6

7.17.9

BRA8.1

9.43333333338.3

11.38.5

8.78.5

TUR8.9333333333

17.63333333339.4

12.210.2

12.066666666711.4

Average 1995-1997 or first available period

Average 2006-2008 or latest available period

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International treatiesAvoidance of Double Taxation AgreementsBilateral Investment TreatiesCooperation in Industrial R&D AgreementsInternational Organization MembershipsIsraels Free Trade AgreementsBACK TO CONTENTS

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QIZ Agreements

Egypt(2004)

Jordan(1998)Israels Free Trade Agreements

1985199219971997199920002007USAEFTATurkeyCanadaMexicoEuropean Union (Association Agreement)MERCOSUR (Argentina not yet in force)CONTINUE


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Avoidance of Double Taxation Agreements

CONTINUE


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Cooperation in Industrial R&D Agreements

CONTINUE


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Bilateral Investment Treaties

CONTINUE

Source: Ministry of Finance* See comments in the Bilateral Investments Treaties page in our website

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Bilateral Investment TreatiesCONTINUE

Source: Ministry of FinanceSouth Africa*ThailandTurkeyTurkmenistanUkraine*UzbekistanSlovakiaSlovenia*SerbiaMongoliaPolandRomania*MontenegroPeru*Vietnam** See comments in the Bilateral Investments Treaties page in our website

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Main International Economic Organizations Membership:Israel is a member in leading international economic organizations: United Nations Organizations United Nations Agencies World Bank Group International Monetary Fund OECD Regional Organizations Inter-Governmental Organizations

NEXT CHAPTER: RELEVANT SITESBACK TO CONTENTS


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Relevant SitesBACK TO CONTENTSMinistry of FinanceBank of IsraelCentral Bureau of StatisticsIsraeli Government PortalIsrael Securities AuthorityMinistry of Industry, Trade and LaborCONTACT US

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WE WELCOME YOUR FEEDBACKMr. Roni HershkovitzDirectorOverseas Economic Information International Affairs DepartmentMinistry of FinanceJerusalemIsraelMr. Assaf LuxembourgOverseas Economic InformationInternational Affairs DepartmentMinistry of FinanceJerusalemIsraelSTART OVER

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Economic Highlights Presentation, Q1 2011

Economy & Finance

Transcript of Economic Highlights Presentation, Q1 2011