Transcript שקופית 1 - משרד הכלכלה

STATE OF ISRAEL
MINISTRY OF FINANCE
INTERNATIONAL AFFAIRS DEPARTMENT
ECONOMIC HIGHLIGHTS
3rd QUARTER 2007
October 10, 2007
Contents:
Main Characteristics
Economic Figures
Balances
International
Comparisons, additional
data and industry
Israel and the OECD
International Treaties
Relevant Sites
Note:
You can return to the
beginning of each chapter by
clicking the button on the top
left side.
Israel’s Economy:
Main Characteristics
Export Oriented Growth
Rapid Development of Technology &
High-Tech Industries
Entrepreneurial Culture
Supportive Environment for Business
Investment and R&D Incentives
Economic
Figures
Press for desired slide or continue:
5 Main Indicators and Forecast
6 GDP and GDP per Capita
7 Growth: Israel compared to the World
8 Major GDP Components
9 Exports of Goods and Services
10 Exports of Goods by Region
11 Structure of Industrial Exports
12 Imports of Goods and Services
13 Imports of goods by Region
14 Main Trading Partners
15 Foreign Investments
16 Unemployment Rate
17 Newly Employed Persons
18 Inflation Rate
19 Estimates for 2007
Back to Contents
Economic Figures
Main Economic Indicators and Forecast
2003
2004
2005
2006
2007F
GDP (current prices in B$)
116.9
124.8
131.2
139.1
156.9*
GDP Real Growth Rate (%)
2.3%
5.2.%
5.3%
5.2%
5.4%**
GDP per Capita (current prices,
thousands of $)
17.2
18.1
18.9
20.1
20.8
26.05
27.68
Criteria
GDP per Capita (OECD Calculated
by PPP, thousands of $)
2006 data: Israel 21st
compared to OECD
GDP per Capita Growth Rate
(%, Current prices)
0.4%
3.4%
3.5%
3.4%
3.6%
Exports of Goods & Services (B$)
43.5
52.8
57.57
62.98
6.7%
Imports of Goods & Services (B$)
44.4
52.3
57.5
61.7
7.9%
Unemployment Rate (%)
10.7%
10.4%
9.0%
8.4%
7.5%
Inflation Rate ( CPI, end of year)
-1.9%
1.2%
2.4%
-0.1%
2.4%
Current Account (% of GDP)
0.5%
0.4%
3.3%
4.9%
Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance.
* Using the estimate NIS made by the Ministry of Finance, Multiplied by Bank of Israel’s average US$-NIS exchange rate for 2007.
** Predicted Annual % Change done by the Ministry of Finance. Note differences between real and nominal figures.
GDP per capita by PPP data was available only for 2005 and 2006.
5
Economic Figures
The market has made a quick recovery from the northern conflict
GDP and GDP per Capita
(Annual rate of change (%), in Constant Prices)
9.0
8.0
7.0
5.0
5.2
4.6
3.4
5.4
5.2
5.3
3.5
3.4
3.6
2.3
3.0
0.4
1.0
-1.0
-0.9
-3.0
-0.9
-2.9
GDP
GDP per Capita
-2.9
-5.0
2000
2001
2002
Source: Central Bureau of Statistics, Ministry of Finance
2003
2004
2005
2006
2007F
6
Economic Figures
Private consumption in Israel is a leading factor, as it is worldwide
GDP Growth - Israel compared to the World
(Annual rate of change (%), in constant prices)
6.0%
5.2%
5.0%
5.3%
4.1%
4.0%
3.5%
5.2%
5.4%
4.2%
3.9%
3.3%
3.4%
4.0%
3.3%
4.1%
3.3%
2.7%
3.0%
2.3%
2.0% 1.6%
1.9%
1.0%
0.0%
-1.0%
-0.9%
-0.9%
-2.0%
2001
2002
2003
World Growth
2004
2005
2006
2007
2008
2009
2010
Israel Growth
Source: Ministry of Finance, Israel Export Institution
Projections for 2007-8: Ministry of Finance; for 2008-9: Israel Export Institute
7
Economic Figures
2006 was characterized by sustainable growth in all GDP components
Major GDP Components
(Annual rate of change (%), in constant prices)
18.2
17
10.1
12
9.1
8
7
2
4.5
4
5.6
5.0
2.9
2.3
4.3
2.3
5.9
5.2
3.7
6.7
1.2
0.8
-0.4
-3
-8
-2.3
-6.0
2002
-2.3
-2.5
-5.6
2003
2004
2005
2006
2007F
Private Consumption
Government Consumption
Investment in Fixed Assets
Exports of Goods and Services
Source: Central Bureau of Statistics, Ministry of Finance
8
Economic Figures
Almost all forms of export registered high growth throughout 2006
Exports of Goods and Services (B$)
70
60
17.4
50
19.8
16.1
40
11.8
13.3
30
20
27.5
30.2
36.6
40.1
43.2
9.7
24.2
10
0
2002
2003
2004
Goods
2005
2006
Services
2007 H1
Source: Central Bureau of Statistics
H1: 1st half
9
Economic Figures
In 2006: Exports to the EU rose by 12% and to the US by 27.3%
Exports of Goods by Region
(Excluding diamonds)
2006
Asia
15.1%
Rest of
Europe
6.8%
North America
37.5% Of which: USA: 31.4%
2007 H1
Africa
3%
Other
5%
European
Union
32.9%
Rest of
Europe
6.5%
Asia
15.2%
North America
30.6%
Latin America
3.1%
Africa
2.9% Other
6.0%
European
Union
35.8%
Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance
Rest of Europe Includes E.F.T.A.
H1: 1st half
10
Economic Figures
High Tech and pharmaceuticals rose by 20.6% and 50.7%, respectively, in 2006
Structure of Industrial Exports
30,000
8,216
traditional industries
hi-tech industries
25,000
7,219
6,694
US$ millions
6,321
20,000
4,836
23%
15,000
4,730
24%
4,731
26%
5,188
25%
26%
27%
27%
75%
10,000
5,000
4,277
35%
73%
77%
76%
74%
15,962
14,862
73%
13,525
14,166
2001
2002
2003
65%
25%
17,308
74%
75%
24,732
21,915
18,794
7,895
0
1995
2000
* Jan-Aug, seasonally adjusted, at annual rate.
2004
2005
2006
2007*
11
Economic Figures
Private vehicle imports comprised 46% of the trade deficit ($2.5 billion)
Imports of Goods and Services (B$)
70
60
13.7
50
40
14.9
12.8
11.1
10.8
30
43.8
39.5
20
31.1
46.9
32.6
8.2
25.2
10
0
2002
2003
2004
Goods
2005
2006
2007 H1
Services
Source: Central Bureau of Statistics, Ministry of Finance
H1: 1st half
12
Economic Figures
EU remains strongest source for imports and strongest destination for exports
Imports of Goods by Region 2006
(excluding Diamonds)
2006
Rest of
Europe
9.9%
Africa
0.7%
2007 H1
Other
16.6%
Asia 20.9%
Rest of
Africa 0.8%
Europe 9.5%
Other 17%
Asia
19%
North
America
16.9%
European
Union
36.9%
Of which: USA: 13.4%
Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance
H1: 1st half
North
America
15.7%
European
Union 36%
Of which: USA:
14.6%
13
Additional data
1997 – 2006 has seen a 100% increase in industrial exports
Israel’s Main Trading Partners
($US Billions)
16
14.8
14
2006
8
10
7.8
9.6
8
7
6
12
EXPORT
6
4.9
IMPORT
4
1.7
3.1
2
5
5.2
3.2
3.3
3.1
3
2.8
0.9
1.3
1.4
1.8
1.6
1.0
1.8
2.4
0
4
0.8
1.6
1.5
0.9
1.0
0.8
1.3
1.3
1.3
0.6
0.5
0.4
0.7
0.8
0.9
1.1
0.5
0.6
1.0
1.3
2.1
2.1
2
0.8
1.3
0.9
1.2
1.9
0.2
nd
la
er
itz
Sw
um
gi
el
B
ey
rk
Tu
ce
an
Fr
0.6
ly
Ita
s
nd
rla
K
he
et
0.8
N
1.6
U
1.6
e
Th
1.7
0.4
1
na
hi
y
an
1.9
0.9
C
SA
4.7
2
m
er
G
U
2.7
3
2.3
2007 H1
0
US
A
Ge
rm
an
y
Ch
ina
Th
Ita
UK
ly
eN
eth
erl
an
ds
Source: Central Bureau of Statistics; H1: 1st half
Fr
an
ce
Ja
Tu
pa
rke
n
y
Be
lgi
um
14
Economic Figures
2006 registered nearly one hundred purchases of Israeli technology companies
Foreign Investments (B$)
30
25.8
25
Direct Investments
20
Total Investments
14.2
15
12.3
9.6
10
5
4.5
9.5
9.1
5.2
3.1
1.7
1.7
3.2
3.9
5.4
9.0
10.6
4.8
2
0
1998
Source: Ministry of Finance
1999
2000
2002
2003
2004
2005
2006
JanAug
2007
15
Economic Figures
Rapid business sector growth has contributed to the decline in unemployment
Unemployment and Participation Rates by Quarters
(Rate of Total Labor Force)
9.5%
57.0%
9.2%
9.0%
9.0%
56.6%
8.9%
8.9%
8.8%
56.5%
8.8%
56.1%
56.0%
8.5%
55.8%
55.6%
8.0%
55.1%
7.5%
55.5%
55.6%
55.5%
8.3%
55.5%
55.0%
55.2%
7.8%
Unemployment Rate
54.9%
7.7%
7.6%
Participation in the Labour Force
7.0%
54.5%
54.0%
2005
Q1
Q2
Source: Central Bureau of Statistics
Q3
Q4
2006
Q1
Q2
Q3
Q4
2007
Q1
Q2
16
Economic Figures
Real wages rose by 1% in 2006 and by 3.6% between January and April 2007
Newly Employed Persons in 2006
(Change in Israeli Employed Persons, in Thousands)
96
74
62
50
48
42
30
25
16
13
6
-3
-11
2001
2002
2003
22
2004
Business Sector
2005
2006
2007 H1
Public Sector
Source: Ministry of Finance, Bank of Israel
H1: 1st half
17
Economic Figures
Responsible fiscal policy and a strong NIS (vs. the $) have stabilized inflation
Inflation Rate
(Rate of Change in CPI, end of year)
7%
6%
6.5%
5%
4%
3%
2%
1%
2.4%
1.3%
0.0%
1.4%
2.4%
-0.1%
1.2%
0%
-1%
-1.9%
-2%
1999
2000
2001
Source: Central Bureau of Statistics, Ministry of Finance
2002
2003
2004
2005
2006
2007F
18
Economic Figures
Estimated Growth of Main GDP
Components 2007
Criteria
Estimate for 2007
Real GDP
+ 5.4%
Business GDP
+ 6.2%
Exports
+ 6.7%
Private Consumption
+ 5.2%
Government Consumption
+ 3.7%
Investment in Fixed Assets
+ 9.1%
Source: Ministry of Finance
19
Balances
Press for desired slide or continue:
21 Gross Public Debt
22 Budget Deficit ;
General Government Expenditure
23 Current Account ;
Net Foreign Debt
24 Gross Tax Burden
Back to Contents
Balances
A responsible fiscal policy continues to lead the reduction of the local debt
Gross Public Debt (as percentage of GDP)
105%
102.0%
99.6%
100.7%
100%
97.0%
95%
90%
87.7%
85%
81.7%
80%
2002
Source: Ministry of Finance
2003
2004
2005
2006
2007F
21
Balances
$5.6 billion surplus (1st half 2007) is $12b more than
needed to achieve a 2.9% goal
Budget Deficit and General Government Expenditure
(Both as percentage of GDP)
Budget Deficit
52.2% 5.4%
Government Expenditure
51.5%
51.1%
4.2%
50.0%
2.9% is the planned
deficit
(Expected: 0.5%)
3.7%
3.6%
3.2%
49.2%
2.9%
48.4%
1.9%
47.4%
46.8%
0.9%
45.4%
0.7%
1999
2000
Source: Ministry of Finance, July 2007
2001
2002
2003
2004
2005
2006
2007
22
Balances
Debt reduction and decreased immigration turned deficit into surplus in 2003
Current Account and Net Foreign Debt
(As percentage of GDP)
5.7%
6.0%
5.0%
3.4%
4.0%
2.3%
3.0%
2.0%
Net Foreign Debt
1.2%
2.8%
-0.6%
-1.3%
0.1%
1.0%
5%
0.0%
0%
-1.0%
-5%
-2.0%
-10%
-2.3%
-5.7%
2001
2002
2003
2004
Current Account
2005
2006
-9.3%
-15%
-16.7%
-20%
-25%
-24.5%
-30%
2000
Source: Bank of Israel
2001
2002
2003
2004
2005
2006
23
Balances
Income and corporate taxes are constantly being reduced
Gross Tax Burden (As percentage of GDP)
39%
38.1%
38%
38.2%
37.8%
37.5%
37.2%
37.0%
36.8%
37%
36.6%
36.7%
36.8%
36.7%
36%
1997
Source: Ministry of Finance
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007F
24
International
comparisons
and additional
data
Press for desired slide or continue:
26 ICT and Business Sector’s Product
27 Capital raised by VC funds and
High Tech Companies
28 Central Bank Interest Rates
29 NASDAQ and Tel Aviv 100 Indices
30 Israel’s Credit Rating
31 Global Competitiveness Index
32 GCI: Selected Issues
33 Business Competitiveness Index ;
Network Readiness Index
34 Dividend Distribute in past years
Back to Contents
Additional data
Communications percentage from high-tech capital raised in a growing trend
Israel’s ICT* and Business Sector’s
Product (Annual % change)
10.8%
12%
7.2%
7%
9.9%
6.5% 5.6% 6.5%
3.2%
2.3%
0.7%
2%
-3% -1.9%
-2.8%
-8%
-13%
Business
ICT
-14.8%
-18%
2001
2002
2003
2004
2005
2006
* Information and Communication Technology
Source: Central Bureau of Statistics, Israel Venture Capital
26
Additional data
2007: High tech investments could reach a five year record of $1.7 billion
Capital Raised by Israeli Venture Capital
Funds* and High Tech Companies (M$)
3,500
3,092
3,000
2,587
2,500
1,986
2,000
1,622
1,500
1,465 1,460
1,438
1,317
1,138
1,013
1,337
1,011
842
1,000
585
473
393
500
6
0
1999
2000
2001
2002
*In vintage year: Year of first closing or first investment.
Source: IVC – Israel Venture Capital Research Center; H1: 1st half
2003
2004
2005
Venture Capital
High Tech
2006
2007
H1
27
Additional data
The latest FF rate 0.5 basis points decrease brings it close to the BOI rate
Central Bank Interest Rates
Israel vs. U.S.A
6%
Currently: 4.75%
Bank of Israel Rate
5%
4%
3%
Currently: 4.0%
2%
1%
9
8
7
6
5
4
3
2
Jan (1)
12
11
10
9
8
7
6
5
4
3
2
Jan (1)
12
11
10
9
8
7
6
5
4
3
2
Jan (1)
12
11
10
9
8
7
6
5
4
3
2
Jan (1)
0%
Federal Reserve Rate
2004
Source: Bank of Israel (BOI), Federal Reserve
2005
2006
2007
28
Additional data
Israel stock exchange achieved an 18% yield, ranking 13th in the world
Nasdaq Index & Tel Aviv 100 (monthly average)
4000
1200
3500
Nasdaq Index (left scale)
1100
Tel Aviv 100 (right scale)
1000
900
3000
800
2500
700
600
2000
500
400
1500
300
1000
200
07
20
06
20
n
Ja
l
Ju
06
20
05
20
n
Ja
l
Ju
05
20
04
20
n
Ja
l
Ju
04
20
03
20
n
Ja
l
Ju
3
00
/2
01
Source: Tel Aviv Stock Exchange (TASE) and the Ministry of Finance.
29
Additional data
FTSE upgrades Israel from “developing” to “developed” market status
Israel’s Credit Rating 1992-2007
A1/A+
6
A2/A
5
A3/A-
4
Baa1/BBB+ 3
Baa2/BBB
2
Moody's A2 Stable
S&P A- Stable
Fitch A- Stable
Baa3 /BBB- 1
0
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Source: Credit Rating Agencies, Accountant General
FTSE – Financial Times Stock Exchange
30
Additional data
Israel Ranks 15 Out of 125 Countries (2005 Rank was 23)
Global Competitiveness Index,
2006
4
1
6
8
10
15
18
24
21
28
42
34
47
48
58
59
d
n
la
er
it z
w k
S
ar
m
en
D
A
S
y
U
an
m
er
G
K
U
el
ra
Is
ce
an
Fr
d
an
el
Ir
ea
or
K
in
pa l
S
ga
tu
or
P
ly
Ita e
ec
re
G
d
an
ol
P o
ic
ex
M
ey
rk
Tu
Source: World Economic Forum, Global Competitiveness Index, 2006
31
Additional data
Global Competitiveness Index, 2006
SELECTED CATEGORIES
Venture Capital Availability
United States
Technological Readiness
1
Israel
Sweden
2
Finland
1
Singapore
Israel
4
United Kingdom
5
3
United Kingdom
Ireland
7
Hong Kong
8
Denmark
Singapore
Germany
16
12
Taiwan
India
20
Japan
15
20
14
Canada
23
10
10
Finland
13
5
6
United States
9
0
2
17
Ireland
25
21
0
Quality of Scientific Research Facilities
Switzerland
1
United States
United Kingdom
Israel
Japan
Germany
Finland
India
Ireland
11
Taiwan
15
12
France
15
10
9
Singapore
14
5
7
Korea
10
0
6
Israel
7
Singapore
4
Finland
6
25
3
Germany
5
20
2
United States
4
15
1
Japan
3
10
Company Spending on R&D
Switzerland
2
5
20
Source: World Economic Forum, Global Competitiveness Index, 2006; Israel Export Institute
14
0
5
10
15
32
Additional data
The business climate is a critical element of sustained economic growth
Business
Competitiveness
Index
Network Readiness Index
Denmark
Switzerland
United States
United Kingdom
Canada
Japan
Germany
Israel
France
Portugal
Spain
Italy
Greece
Turkey
5.71 (1)
5.58 (5)
5.54 (7)
5.45 (9)
5.35 (11)
5.27 (14)
12
5.22 (16)
16
5.14 (18)
19
4.99 (23)
22
4.48 (28)
25
4.35 (32)
27
4.19 (38)
30
36
3.98 (48)
46
3.86 (52)
49
55
64
1
2
5
8
U
.A
.S
m
er
k
ar
y
an
m
en
G
D
ea
or
K
U
ia
tr
us
A
ce
an
Fr
el
ra
Is
nd
la
Ire
K
na
hi
a
di
In
n
ai
Sp
ia
en
ov
Sl
ey
rk
Tu
e
ec
re
G
l
zi
ra
B
C
Source: World Economic Forum, Global Competitiveness Index, 2006; Global Information Technology Report
GCI: Provides a holistic overview of factors critical to productivity and competitiveness [LINK TO SITE]
NRI: Measures the level of ICT (information and communication technologies) development of nations [LINK TO SITE]
33
Additional data
The Israeli market continues to appeal to investors despite global competition
Dividend Distribution in the Past Years
(NIS Millions)
19,747
20,000
18,000
79%
16,000
74%
14,000
70%
12,000
11,917
10,000
14,609
80%
76%
70%
60%
54%
8,000
6,196
50%
6,000
4,000
2,000
2,559
106
90%
137
178
210
222
0
40%
30%
2002
2003
2004
2005
2006
Amout of companies distributing dividend
Total dividend distributed (NIS Millions)
Distributing companies – % from total
Source: Tel Aviv Stock Exchange
34
Israel and the
OECD
Press for desired slide or continue:
36
Real GDP growth in 2006-7
37
Nominal GDP growth in 2006-7
38
Unemployment Rate in 2006-7
39
GDP per Capita in 2006
40
GDP Based on PPP per Capita in 2005 (OECD)
Back to Contents
Israel and the OECD
OECD has invited Israel to discussions for membership of the organization…
Real GDP Growth
(Annual percentage of change, partial list)
9%
8%
7%
5.4%
5.1%
6%
5%
06’ 07’
4% 3.2%
2.7%
3%
2%
1%
0%
l
ga
rtu
Po
d
te
y
an
ly
Ita
m
ce
do
an
ng
Fr
Ki
i
Un
rm
Ge
n
pa
d
Ja
lan
er
it z
es
at
Sw
St
d
ite
Un
k
ar
nm
De
n
ai
Sp
y
ar
ng
Hu
en
ed
Sw
o
ic
ex
M
a
re
Ko
el
g
ra
ur
Is
bo
m
xe
Lu
ic
ey
bl
rk
pu
Tu
Re
ak
ov
Sl
ea
ar
ro
D
Eu
EC
lO
ta
To
Source: OECD and the Ministry of Finance, Israel
35
Israel and the OECD
.. for it shares the same values of open market economy as OECD members …
Nominal GDP Growth in 2006
(Annual percent of change, partial list)
18%
16%
14%
12%
7.5%
5.9%
10%
8%
6%
06’ 07’
5.4%
4.8%
4%
2%
0%
n
pa
Ja n y
a
d
m
er alan
G
Ze
ew
N e
c
an and
l
Fr
er
itz
Sw
om
ea
gd
or Kin
K
d
te
ni
U
rk
a
es
m
at
en
St
D
d
te
ni ia
U
al
tr
us
A
el
ra
Is
ic
bl
n
ai
pu
Sp Re
ch
ze
C
o
ic
ex
M
ay
w
or
N d
an urg
el
Ic
bo
m
xe
Lu
ey
rk
Tu rea
a
ro CD
Eu
E
lO
ta
To
Source: OECD and the Ministry of Finance, Israel
37
Israel and the OECD
...and ranks among the world's leading countries with respect to scientists,
engineers, high-tech start-ups and R&D spending per capita.
14%
12%
10%
8.4%
7.8%
8%
6%
Unemployment Rate
(average)
5.9%
4%
2%
0%
d
an
el
Ic
C
E
D
ea
or
K
en
om
ed
gd
w
S
in
K
d
te
ni
U
ia
lic
tr
ub
us
A
ep
R
ch
ze
C
l
ga
tu
or
P
d
an
nl
Fi
y
an
m
er
G
um
gi
el
B
el
ra
Is
in
pa
S
li c
ce
ub
an
Fr
ep
R
k
va
lo
ea
S
ar
lO
o
ur
E
ta
To
12%
10%
8%
2006
6%
7.1%
7.5%
5.6%
4%
2007 H1
2%
0%
o
nd
a
el
Ic
a
re
o
K n
e
ed
m
w
S ia do
r g
st n
u i c
A d K bli
u
ite p
n e
U R
ch
ze y
C an
m
er
G d
n
la
in
F m
iu
g
el
B
el
ra l
Is ga
u
rt
o
P
n
ai
ic
p
S e bl
c u
n p
ra e
F kR
va
lo a
S ar e
ro CD
u
E OE
l
ta
T
Source: OECD, and the Central Bureau of Statistics, Israel
H1: 1st half
38
Israel and the OECD
In 1996, the OECD approved Israel’s request to participate in it’s activities
GDP (based on purchasing-power-parity
(PPP) ) per capita, in 2006,
90,000
IMF calculation, ($US)
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
ic
ile
bl
Ch
pu
Re
ak
ov
Sl
l
ga
rtu
Po
ia
en
ov
d
Sl
an
al
Ze
w
Ne
n
ai
Sp
ce
an
Fr
y
an
m
er
G
l ia
ra
st
Au
m
m
iu
lg
do
Be
ng
Ki
d
ite
Un
da
na
Ca
k
ar
nm
De
d
an
el
Ic
ay
rw
g
No
ur
bo
m
xe
Lu
Source: IMF, Ministry of Finance
Countries that have been invited for open discussions for joining the OECD.
39
Israel and the OECD
Israel's GDP per capita ranks it 21st among OECD countries
GDP (based on purchasing-powerparity (PPP) ) per capita
80,000
OECD calculation, 2006 ($US)
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
ey
rk
Tu o
ic
ex
M d
l ic
ub
n
l a ep
Po k R
a
ov
Sl
ry
ga
un l
c
H
ga bli
rt u pu
Po Re
ch
ze
C
a
d
re lan
Ko ea
Z
ew
N
el
ra
Is
n
ai
Sp
ly
Ita e
c
an
Fr
n
pa
Ja any ge
m era
er
G
Av
D
EC
O d
m
do
an
nl ing
Fi
K
d
te
ni rk
U
a
m d
n
en
D rla
e
itz
Sw d
s
n
la ate
Ire St
d
te
ni
U
ay g
w
r
or ou
N
b
m
xe
Lu
Source and PPP calculated formula: OECD
40
International
Treaties
Press for desired slide or continue:
42
Israel’s Free Trade Agreements
43
Avoidance of Double Taxation Agreements
45
Cooperation in Industrial R&D Agreements
46
Protection of Investments Agreements
48
International Organization Memberships
Back to Contents
International Treaties
Israel’s Free Trade Agreements
USA (1985)
Egypt
EFTA (1992)
Turkey (1997)
Mexico (1999)
Jordan (1995): Bilateral Trade Agreement
Canada (1997)
European Union – Association Agreement (2000)
Both Romania and
Bulgaria have recently
joined the European
Union
{
Romania (2000)
Bulgaria (2002)
42
International Treaties
Avoidance of Double Taxation
Agreements
Austria
Croatia
Hungary
Belarus
Denmark
India
Belgium
Estonia *
Ireland
Brazil
Ethiopia
Italy
Bulgaria
Finland
Jamaica
Canada
France
Japan
China
Germany
Latvia
Czech
Republic
Greece
Lithuania
The agreement with Estonia has only been signed initially
43
International Treaties
Avoidance of Double Taxation
Agreements (con.)
*
Luxembourg
Russia
Switzerland
Mexico
Singapore
Thailand
Moldova
Slovakia
The Netherlands
Norway
Slovenia *
Turkey
Philippines
South Africa
Ukraine
Portugal *
South Korea
United Kingdom
Poland
Spain
Uzbekistan
Romania
Sweden
USA
Agreements with Slovenia and Portugal have yet to have been ratified
44
International Treaties
Cooperation in Industrial R&D
Agreements
Austria
India
Sweden
Belgium
Ireland
UK
Canada
Italy
USA
China
Korea
Finland
Netherlands
France
Portugal
Germany
Singapore
Hong Kong
Spain
45
International Treaties
Protection of Investment Agreements
Albania
El-Salvador
Argentina
Estonia
Armenia
Georgia
Belarus
Germany
Bulgaria
Hungary
Croatia
India
Cyprus
Czech Republic
Kazakhstan
Korea
46
International Treaties
Protection of Investment Agreements (con.)
Latvia
Turkmenistan
Lithuania
Ukraine
Moldova
Uruguay
Poland
Uzbekistan
Romania
Slovakia
QIZ Agreement
Slovenia
Egypt
Thailand
Jordan
Turkey
47
International Treaties
International Organization* Memberships:
BIS | BSEC (observer) | CE (observer)
CERN (observer) | EBRD | FAO | IADB | IAEA
IBRD | ICAO | ICC | ICCt (signatory) | ICFTU
IDA | IFAD | IFC | IFRCS (observer) | ILO | IMF
IMO | Interpol | IOC | IOM | ISO | ITU | OAS (observer)
OPCW (signatory) | OSCE (partner) | PCA | UN
UNCTAD | UNECE | UNEP | UNESCO | UNHCR
UNIDO | UPU | WB | WCO | WFP | WHO | WIPO | WMO
WToO | WTrO | WTO | MIGA | OECD (candidate)
* Economic Organizations
48
Relevant Sites
Government Institutes:
Bank of Israel (BOI)
BOI Annual Report (Complete in English)
Central Bureau of Statistics
Israeli Government Portal
Ministry of Finance
Israel Securities Authority
Ministry of Industry,
Trade and Labor
OECD Israel
Economic News:
“The Marker”
“Globes”
Back to Contents
We welcome your feedback!
Contact:
Uri Geva
International Affairs Department
Ministry of Finance, Jerusalem, Israel
[email protected]
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