Port2port News Service
Feb 21, 2011
Gross Domestic Product was up 5.4% in H2 2010, compared to 5% in H1 and 3.4% in H2 2009. Business growth increased by 6.1% in H2 2010
Numbers released last Wednesday by the Central Bureau of Statistics indicate that Israel's economy grew at its fastest rate in four years in Q4, 2010, achieving growth of 7.8% in annualized terms for the quarter.
Gross Domestic Product was up 5.4% in H2 2010, compared to 5% in H1 and 3.4% in H2 2009.
Business growth increased by 6.1% in H2 2010. In 2010 taken as a whole, Israel's economy increased by 4.5% - compared to other OECD member nations, which saw an average growth of 2.8% (The French economy grew by just 1.5% in 2010, outpaced by the German economy, which grew by 3.6%. The U.S. economy expanded by 2.9% in 2010 after contracting the previous year. The Japanese economy is estimated to have grown by about 3% in 2010).
While the Israeli economy grew by 7.8% in the last quarter, the euro-zone economy is estimated to have grown by just 0.3% in that period. The German economy expanded by 0.4% and the French by 0.3%.