Israel’s economy shows strongest quarter since 2013, grows by 6.2 percent

Israel’s economy continues to perform impressively. 

Israel’s economy grew by an annualized 6.2 percent in the last quarter of 2016, marking its strongest quarterly performance since the second quarter of 2013, the country’s Central Bureau of Statistics (CBS) said Thursday.

The economy grew by an annualized 4.2 percent in the third quarter of 2016 and 5.3 percent in the second quarter. The data showed that, year-on-year, the economy grew 5 percent in the second half of 2016, following 3.2-percent growth in the first half of the year.

The increase in gross domestic product in the second half of 2016 reflected a 3.5-percent increase in public consumption, and 2.9-percent growth in private consumption per capita.

Israel’s exports of goods and services, excluding diamonds and start-ups, were up 4.5 percent in 2016, and investments in fixed assets climbed 10.2 percent. Imports of goods and services increased 10.6 percent in the second half of 2016, according to the report.