Israel's GDP changed from approximately $25B 13M in 1980 to $530B 664M in 2024, showing an overall 2021.6% sharply increased during the period.
The lowest GDP was recorded in 1980 at $25B 13M, and the highest in 2024 at $530B 664M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 7.2%.
For comparison, the average annual growth rate of Iran was 3.7%, and that of Turkey was 5.7%.
Israel GDP from 1980 to 2024
The total market value of goods and services produced annually in Israel.
Overview of Israel's GDP (1980–2024)
The Gross Domestic Product (GDP) of Israel recorded a 2021.6% sharply increased from 1980 to 2024.
The average GDP during this period was $188B 779M, and the median was $134B 622M.
GDP fluctuated within a range of $505B 651M, with a standard deviation of $150B 958M.
The average annual change was $10B 882M.
Highest and Lowest GDP Records
- Lowest GDP: 1980, $25B 13M
- Highest GDP: 2024, $530B 664M
- Most Recent GDP: 2024, $530B 664M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2023: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Israel's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $399B 652M → $411B 731M
- Outcome: increased
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $184B 69M → $212B 452M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $136B 228M → $134B 622M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $119B 248M → $120B 359M
- Outcome: remained stable
Key Economic Indicators of Israel (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 25B 13M | $ 6,381.63 | $ 7,264.40 | $ 28B 473M | 3.568 % | -3.514 % | 15.06 % | 0 % | 3M 920K people |
1981 | $ 26B 503M | $ 6,713.67 | $ 8,268.04 | $ 32B 639M | 4.723 % | -5.147 % | 12.19 % | 0 % | 3M 948K people |
1982 | $ 28B 404M | $ 7,068.39 | $ 8,746.99 | $ 35B 150M | 1.424 % | -7.95 % | 11.81 % | 0 % | 4M 18K people |
1983 | $ 31B 678M | $ 7,719.13 | $ 9,130.63 | $ 37B 471M | 2.586 % | -7.478 % | 13.09 % | 0 % | 4M 104K people |
1984 | $ 29B 989M | $ 7,214.51 | $ 9,546.06 | $ 39B 681M | 2.21 % | -5.245 % | 13.61 % | 0 % | 4M 157K people |
1985 | $ 27B 873M | $ 6,588.30 | $ 10,106.66 | $ 42B 758M | 4.451 % | 3.555 % | 19.44 % | 0 % | 4M 231K people |
1986 | $ 34B 314M | $ 7,986.56 | $ 10,512.80 | $ 45B 167M | 3.551 % | 3.73 % | 20.16 % | 0 % | 4M 296K people |
1987 | $ 40B 984M | $ 9,386.02 | $ 11,394.47 | $ 49B 754M | 7.49 % | -3.431 % | 12.77 % | 0 % | 4M 366K people |
1988 | $ 50B 770M | $ 11,436.54 | $ 12,016.47 | $ 53B 344M | 3.564 % | -1.639 % | 14.50 % | 0 % | 4M 439K people |
1989 | $ 51B 657M | $ 11,439.34 | $ 12,450.48 | $ 56B 223M | 1.419 % | 0.414 % | 16.01 % | 0 % | 4M 516K people |
1990 | $ 60B 955M | $ 13,087.18 | $ 13,353.48 | $ 62B 196M | 6.633 % | 0.277 % | 17.71 % | 0 % | 4M 658K people |
1991 | $ 69B 146M | $ 13,979.06 | $ 13,599.53 | $ 67B 268M | 4.618 % | -1.841 % | 20.75 % | 0 % | 4M 946K people |
1992 | $ 77B 265M | $ 15,080.51 | $ 14,389.30 | $ 73B 724M | 7.155 % | -1.126 % | 21.49 % | 0 % | 5M 124K people |
1993 | $ 77B 656M | $ 14,766.41 | $ 14,892.17 | $ 78B 318M | 3.771 % | -3.195 % | 19.62 % | 0 % | 5M 259K people |
1994 | $ 88B 646M | $ 16,432.31 | $ 15,867.35 | $ 85B 598M | 7.011 % | -3.846 % | 18.38 % | 0 % | 5M 395K people |
1995 | $ 105B 307M | $ 19,002.68 | $ 17,292.41 | $ 95B 829M | 9.654 % | -4.714 % | 24.09 % | 0 % | 5M 542K people |
1996 | $ 114B 868M | $ 20,216.77 | $ 18,182.82 | $ 103B 312M | 5.87 % | -4.659 % | 24.43 % | 0 % | 5M 682K people |
1997 | $ 119B 248M | $ 20,476.93 | $ 18,723.81 | $ 109B 39M | 3.755 % | -3.055 % | 24.83 % | 0 % | 5M 824K people |
1998 | $ 120B 359M | $ 20,169.75 | $ 19,229.12 | $ 114B 746M | 4.064 % | -0.973 % | 25.24 % | 0 % | 5M 967K people |
1999 | $ 121B 167M | $ 19,806.86 | $ 19,654.76 | $ 120B 236M | 3.323 % | -1.27 % | 25.25 % | 0 % | 6M 117K people |