Israel is an OECD member country with a developed free-market economy. The most important economic sectors are technology, manufacturing, and professional services. In 2025,
was expected to surpass 580 billion U.S. dollars, and, according to estimates, will surpass 700 billion U.S. dollars by 2030. Based on economic evaluations,
by less than one percent in 2024, but will resume higher growth in the following four years at about three percent. There is a high probability that economic growth in Israel will be higher than the
Resilient labor market
The labor market in Israel has been relatively strong in recent years, supporting the country’s economic resilience. 2024 figures showed that
the number of employed people rose to nearly 4.4 million, a slight increase compared to the year prior. Additionally, the
labor participation rate of Israelis above the age of 15 was higher than the OECD average. Similarly encouraging, the
unemployment rate in Israel fell slightly in 2023, to its lowest level in two decades, below 3.5 percent.
Technology industry at the forefront
The advanced
technology industry in Israel is the most important economic sector in the country. In 2023, the
tech industry's output contributed some 20 percent of GDP and generated almost 400,000 jobs. A majority of these were
programming positions, but also included workers in advanced manufacturing, telecommunication and pharmaceuticals. The innovative approach of Israelis to business and technology has contributed to the success of this sector.
Importance of international trade
As a small country, foreign trade plays an essential role in the economy of Israel. With its proximity and scale, and building on two decades of free-trade, the European Union (EU) was one of Israel's most important trading partners. In 2024,
exports from Israel to the EU reached a value of over 17 billion U.S. dollars. Still, the United States, was the single
most important destination of Israeli goods that year. On the other hand, in terms of imports, China surpassed the United States, as the
largest exporter of goods to Israel
This text provides general information. ÌÇÐÄÆƽâ°æ assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
