Israel Economy 5-3-24

Israel has a very good economy 

Nominal GDP $564.15 billion, Per Capita GDP $58,273, Population 9,870,640, Debt to GDP 62.1%,

Inflation 20.4%, Unemployment 3.5%, Labor force 62.7%, Urban population is 93%. Literacy rate is 94.75%.

Exports $156 billion, Imports $149.43 billion. Trade Deficit $2.298 billion,

Land area 8.630 sq miles. Arable land 17.42%,

The Israeli diamond industry is one of the world's centers for diamond cutting and polishing, amounting to 23.2% of all exports. As the country is relatively poor in natural resources, it consequently depends on imports of petroleum, raw materials, wheat, motor vehicles, uncut diamonds and production inputs.

The most recent exports are led by Diamonds ($10.5B), Integrated Circuits ($7.83B), Refined Petroleum ($4.08B), Medical Instruments ($2.51B), and Potassic Fertilizers ($2.31B).

Imports The top imports of Israel are Diamonds ($7.3B), Cars ($6.67B), Crude Petroleum ($3.73B), Refined Petroleum ($3.7B), and Broadcasting Equipment ($2.56B), importing mostly from China ($14.4B), United States ($11.6B), Turkey ($7B), Germany ($6.46B), and India ($4.86B).

Israel's three largest defense companies, IAI, Elbit Systems and Rafael Advance Defense Systems, have seen record sales over the last two years, and they have seen increasing demand for their systems, especially since Russia's February 2022 invasion of Ukraine.

Israel shares borders with Palestine, Lebanon, Syria, Egypt and Jordan.

Norb Leahy, Dunwoody GA Tea Party Leader