Israeli economy grows by 4.8 percent in 2011

Rise follows similar growth in 2010; GDP per capita rises 2.9% in 2011; Israel's population grows 1.9%.

December 29, 2011 14:45
1 minute read.
Economic outlook.

economic outlook graph economy money 311. (photo credit: Stockbyte)

Israel's gross domestic product rose by 4.8 percent in 2011, according to an initial round-up of figures by the Central Bureau of Statistics published on Thursday. The number follow a similar rise in 2010, and a rise of 0.8% in 2009, the year of emergence from recession.

The Central Bureau of Statistics also reported that in the third quarter of 2011, GDP grew at an annual rate of 3.5%, which represents a slowdown in comparison with the 3.7% growth rate recorded in the second quarter and 4.8% in the first.

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Israel's population grew by 1.9% this year, and GDP per capita rose 2.9%- figures similar to those for 2010. GDP per capita this year was just above NIS 111,000.

Earlier Thursday,
Bank of Israel Governor Stanley Fischer warned that unemployment could rise slightly next year and that financial markets could stagnate, but said that the Bank of Israel has the tools to cope with this scenario.

In an end-of-year interview with Army Radio, Fischer added that "unless there is a disaster in the Europe and the US is all right, we can emerge from 2012 with the average growth rate of the past 30 years."

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