Transcript שקופית 1 - Ministry of Finance

STATE OF ISRAEL
MINISTRY OF FINANCE
INTERNATIONAL AFFAIRS DEPARTMENT
ECONOMIC HIGHLIGHTS
2nd QUARTER 2008
July 2008
International Affairs Department
Contents
Main Characteristics
Israel celebrating 60
Economic Figures
Balances
Note:
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beginning of each chapter
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on the top of each slide.
International Comparisons
Israel and the OECD
International Treaties
Relevant Sites
Israel’s Economy:
Main Characteristics
Highly Educated Population.
Rapid Development of Technology &
High-Tech Industries.
Entrepreneurial Culture.
Open Economy.
High Trade intensity.
Israel Celebrating 60
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5 Population of Israel
6 GDP Per Capita
7 Public Debt
8 Tourist Arrivals and Departures of Israelis abroad
9 Students in Higher Education Institution
10 Investment in the total knowledge: Higher Education, Software and R&D
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Population of Israel*
1949 - 2007
Israel’s Current Population: 7,282,000
8,000,000
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
19
49
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52
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55
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58
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61
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64
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67
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73
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76
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82
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85
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88
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91
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94
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97
20
00
20
03
20
06
0
*End of Year.
Source: Central Bureau of Statistics, Ministry of Finance
5
GDP Per Capita*
1950 -2007
The resources available to Israel in 2007 - from local production
and imports – are 38 times greater than they were in 1950.
100,000
90,000
80,000
70,000
NIS
60,000
50,000
40,000
30,000
20,000
GDP
10,000
Business GDP
0
1950
1955
1960
1965
1970
1975
1980
1985
1990
1995
2000
2005
*(Constant Prices of 2005)
Source: Central Bureau of Statistics
6
Public Debt (% of GDP)
1950 - 2007
Since 1984, The Public Debt has shown a downward trend
300
250
200
150
100
50
0
04
20
01
20
00
20
97
19
90
19
85
19
78
19
73
19
68
19
66
19
50
19
-2
-2
-1
-1
-1
-1
-1
-1
-1
-1
7
00
3
00
9
99
6
99
9
98
4
98
7
97
2
97
7
96
5
96
Source: Central Bureau of Statistics
7
Tourist Arrivals and Departures of
Israelis abroad (1950 – 2007)
During the 1950’s, an annual average of 47,000 visitors entered
4,500
Israel.
4,000
3,500
Thousands
3,000
2,500
2,000
1,500
1,000
Tourists
500
Israelis
0
1950
1955
1960
1965
1970
1975
1980
1985
1990
1995
2000
2005
1.5 Million tourist entries have been registered
in the first half of 2008.
Source: Central Bureau of Statistics
8
Students in Higher Education
Institutions (1948 /49 – 2007 /08)
In 1948, 208 students received an academic degree in Israel.
In 2006 – almost 53,000.
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
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Bachelor's Degree (Universities)
Master's degree (Universities)
Bachelor's Degree (Colleges)
Master's Degree (Colleges)
P.H.D (Universities)
9
Investment in total knowledge: Higher
Education, Software and R&D (% of GDP, 2002)
Israel
4.8
Sweden
1.1
4.1
U.S.A
1.8
2.7
Finland
Korea
1.8
3.4
Denmark
OECD (average)
Japan
Canada
1.5
2.5
1.4
2.5
2.5
1.6
1.3
3.1
Australia
1.1
1.6
Germany
1.4
2.5
Norway
1.5
Belgium
Britain
0.9 0.7 3.7
Austria
Spain
2.1
0.8
0.8
Ireland
1.0
1.1
Italy
1.1
0.7 0.6 2.3
3.4
0.9 2.7
1.0 2.3
R&D
Software
Higher Education
0.8 1.9
1
4.8
0.7 0.9 3.8
2.1
0
Israel is the world
leader in the amount
of venture capital
invested in hightech industries,
relative to GDP.
0.7 5.1
0.8 3.8
EU (average)
0.6
5.8
1.1 4.1
0.7 0.7 3.9
1.1 0.7 3.7
0.8 0.6 3.7
Greece
6.0
1.3
5.4
1.4
5.2
1.9
2.3
France
1.1
1.7
1.4
2.2
7.1
0.9 6.8
2.2
6.7
1.9
1.3
2.0
1.2
2
3
4
5
6
7
8
10
Economic Figures
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12-13
Main Indicators and Forecast
14
GDP and GDP per Capita
15
Growth: Israel compared to the World
16
Major GDP Components
17
Exports of Goods and Services
18
Exports of Goods by Region
19
Imports of Goods and Services
20
Imports of goods by Region
21
Main Trading Partners
22
Foreign Investments
23
Unemployment & Participation Rates
24
Inflation Rate
25
Inflation Rate Worldwide
26
Estimates for 2008
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Main Economic Indicators
and Forecast
Criteria
2003
2004
2005
2006
2007
GDP (current prices in $B)*
116
123.6
131.2
142.3
161.9
GDP Real Growth Rate (%)
2.3%
5.2.%
5.3%
5.2%
5.3%
$26,476
$28,169
$25,762
GDP per Capita
(PPP adjusted)***
GDP per Capita Growth Rate
(%, Current prices)
0.4%
3.4%
3.5%
3.4%
3.4%
Exports (Goods & Services)** $B*
(As Percentage of GDP)
43.6
(37.6%)
52.7
(42.6%)
57.6
(43.9%)
62.9
(44.2%)
71.5
(44.2%)
Imports (Goods & Services)** $B*
(As Percentage of GDP)
44.5
(38.4%)
52.3
(42.3%)
57.6
(43.9%)
62.0
(43.6%)
73.6
(45.5%)
10.7%
10.4%
9.0%
8.4%
7.3%
Unemployment Rate (%)
*Using public exchange rate.
*** Source: OECD.
** In current prices
12
Main Economic Indicators
and Forecast (con.)
Criteria
2003
2004
2005
2006
2007
Total Gross Debt (Percentage of GDP)
101.7%
99.9%
95.9%
86.7%
80.8%
Government Expenditure
(Percentage of GDP)
51.2%
48.1%
46.3%
45.6%
45.1%
Current Account (% of GDP)
1.2%
2.4%
3.3%
6.0%
3.2%
Inflation Rate ( CPI, end of year)
-1.9%
1.2%
2.4%
-0.1%
3.4%
Credit Rating
( Long-term Foreign Bonds )
Moody’s: A1 S&P: A
(Stable)
(Positive)
Fitch: A
(Stable)
About Credit Rating: The government’s credit rating affects banks, companies and financial
bodies in the market. The rating creates a “ceiling” which acts as a reference to their bond
pricing. Credit rating indicates the macro-economic status of an economy and affects foreign
investors’ decisions whether to invest in the market.
Recently Moody’s Ratings have raised Israel’s foreign currency credit rating from ‘A2’ to ‘A1’ and
local currency credit rating from ‘A2’ to ‘A1’ (Both: Stable).
Source: Ministry of Finance, Central Bureau of Statistics
13
GDP and GDP per Capita
(Annual rate of change (%), in Constant Prices)
Growth forecasts for 2008 : 4.2%
8.9
9.0
7.0
6.1
5.3
5.2
5.0
3.4
5.3
5.2
3.5
3.4
3.4
2.3
3.0
0.4
1.0
-1.0
-0.4
-3.0
-0.6
-2.7
-2.6
GDP
GDP per Capita
-5.0
2000
2001
2002
Source: Central Bureau of Statistics, Ministry of Finance
2003
2004
2005
2006
2007
14
GDP Growth
Israel compared to Advanced Economies*
(Annual rate of change (%), in constant prices)
Since 2003, Israel’s growth rate has exceeded the average
growth rate of advanced economies
6.0%
5.3%
5.2%
5.3%
5.2%
5.0%
4.2%
4.0%
3.5%
3.2%
3.0%
2.0%
3.1%
2.6%
2.5%
2.3%
2.0%
1.3%
1.7%
1.6%
1.7%
1.0%
0.0%
-1.0%
-0.4%
World Growth
-0.6%
Israel Growth
-2.0%
2001
2002
2003
2004
2005
2006
2007
2008
2009
* (Weighted average: US - 44%, Euro area - 37%, Japan - 4%, UK - 8%, Asian Newly Industrialized countries - 7%)
Source: Ministry of Finance, Israel.
15
Major GDP Components
(Annual rate of change (%), in constant prices)
18.2
17
13.1
10.5
12
8.4
8.1
5.6
7
4.3
3.9
1.2
2.3
2.6
2006
2007
5.0
-3
-8
5.3
6.8
3
2.5
2
4.5
5.9
-2.6
-6.1
2003
2004
2005
Private Consumption
Government Consumption
Investment in Fixed Assets
Exports of Goods and Services
Source: Central Bureau of Statistics, Ministry of Finance
16
Exports of Goods and
Services ($B)
80
70
21.1
60
19.3
50
40
17.4
16
13.4
50.4
30
20
30.2
43.7
40.1
36.7
10
0
2003
2004
2005
Goods
Source: Central Bureau of Statistics
2006
2007
Services
17
Exports of Goods by Region
(Excluding diamonds)
2007
2006
Rest of Europe*
6.8%
Asia
15.1%
North America
37.5%
(USA: 31.2%)
Asia
15%
Africa
3%
Rest of
Europe*
6.5%
Africa
3%
Other
11%
Other
8%
European Union
32.9%
North
America
30.5%
European
Union
34.5%
(USA: 28%)
Source: Central Bureau of Statistics
*Rest of Europe Includes E.F.T.A . Countries (Norway, Switzerland, Liechtenstein and Iceland)
18
Imports of Goods and Services
(B$)
30% growth in vehicle imports in 2007
80
70
17.9
60
15
50
40
12.8
13.7
11.2
55.8
30
39.5
20
47.1
43.8
33.3
10
0
2003
2004
2005
Goods
Source: Central Bureau of Statistics, Ministry of Finance
2006
2007
Services
19
Imports of Goods by Region
(excluding Diamonds)
2007
2006
Rest of
Europe*
9.9%
Asia
19%
Africa
0.7%
North
America
16.9%
Other
16.6%
European
Union
36.9%
Rest of Africa 0.72%
Europe*
9.3%
Asia 20.7%
North
America
15.9%
Other
17.8%
European
Union 35.5%
(USA: 14.9%)
(USA: 13.4)
Source: Central Bureau of Statistics
*Rest of Europe Includes E.F.T.A . Countries (Norway, Switzerland, Liechtenstein and Iceland)
20
Israel’s Main Trading Partners
(US$ Billions, excluding diamonds)
16
15.2
14
2006
12
10
18
8
16.6
16
EXPORT
14
12
10
4.9
4
1.7
2
IMPORT
9.7
6
5.2
3.2
1.4
2.4
1.8
1.9
1.6
3.0
1.2
1.6
3.5
3.5
2.1
2.3
1.8
2.7
2.4
1.2
1.2
0.7
1.6
1.5
1.7
2.0
0.7
1.3
2.0
0.8
1.2
um
gi
el
1.6
2.8
2.5
1.2
1.3
B
3.4
2.1
0.8
1.3
n
pa
Ja
ce
an
Fr
ey
rk
Tu
6.9
K
U
s
nd
ly
rla
Ita
he
et
3.5
N
3.7
0.9
e
Th
4.4
1.9
na
hi
y
an
5.5
6
C
SA
m
er
G
U
8
2
3.1 2.9
1.3
1
0
10
4
3.2
0.8
2.3
1
1.3
2007
0
US
A
Ge
rm
a
Ch
ina
ny
Th
Ita
UK
ly
eN
eth
erl
an
ds
Source: Central Bureau of Statistics
Tu
Fr
an
rke
ce
y
Ja
pa
n
Be
lgi
um
21
Foreign Investments (B$)
In July 2008, the Norwegian pension fund “Global” decided
to invest over half a billion euros in Israel.
30
25.8
Direct Investments
25
Total Investments
20
14.7
15
13.6
12.3
9.6
10
4.5
5
9.2
5.1
3.1
3.6 4.1
3.2 3.9
5.3
4.8
2
1.7
1.7
10.3
9.2
0
1998
1999
Source: Ministry of Finance
2000
2001
2002
2003
2004
2005
2006
2007
22
Unemployment and Participation
(As % of Total Labor Force)
The Participation Rate in the Labor Force peaked at 56.6%.
9.5%
57.0%
9.2%
8.9% 8.9% 8.9%
9.0%
8.8% 8.8%
56.5%
8.5%
56.5%
56.6%
56.5%
56.1%
8.0%
8.2%
7.8% 7.8%
56.1%
56.0%
7.5%
7.5%
55.7%
55.7%
55.7%
55.5%
55.5%
55.5%
7.0%
7.2%
55.1%
6.5%
55.2%
6.30% 55.0%
Unemployment Rate
54.9%
6.7%
Participation in the Labor Force
6.0%
54.5%
2005 Q2
Q1
Q3
Source: Central Bureau of Statistics
Q4 2006 Q2
Q1
Q3
Q4 2007 Q2
Q1
Q3
Q4 2008
Q1
23
Inflation Rate
(Rate of Change in CPI, end of year)
After a 1.5% increase in April and 0.6% in May, CPI in
June 2008 grew by 0.1%.
7%
6%
6.5%
5%
4%
3%
3.4%
2%
1%
2.4%
1.3%
0.0%
1.4%
-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
2007 *
24
Inflation Rate Worldwide
(Rate of Change in CPI, end of 2007)
The Bank of Israel has raised its interest rate to 3.75%, facing a
rising CPI in the second quarter of 2008.
9%
8%
7%
6%
5%
4%
3%
2%
1%
0%
3.4%
e
rk
y
y
ar
d
nd
g
un
Tu
H
la
n
la
e
Ic
Ir e
o
ic
l
ae
ex
M
r
Is
m
iu
SA
U
d
an
nl
Fi
al
ug
rt
Po
y
an
m
g
el
ay
w
or
d
er
G
B
N
n
la
er
n
pa
itz
Sw
Ja
Sources: Central Bureau of Statistics, OECD
25
Growth of Main GDP
Components 2008
Criteria
2008 Projection
Real GDP
+ 4.2%
Business GDP
+ 4.9%
Exports
+ 6.4%
Private Consumption
+ 4.6%
Public Consumption
+ 2.0%
Investment in Fixed Assets
+ 7.3%
Source: Ministry of Finance
26
Balances
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28 Gross Public Debt
29 Budget Deficit ;
General Government Expenditure
30 Current Account ;
Net Foreign Debt
31 Gross Tax Burden
Back to Contents
Gross Public Debt
(as percentage of GDP)
Since 2003, the gross public debt has been on a downward trend.
105%
102.0%
99.6%
100.7%
100%
97.0%
95%
90%
86.7%
85%
80.8%
80%
2002
Source: Ministry of Finance
2003
2004
2005
2006
2007
28
Budget Deficit and General
Government Expenditure
Government Expenditure
Both Government
expenditure and budget
deficit have been
decreasing since 2003
1999
2001
2003
2005
Budget Deficit
1999
2007
2000
6.00%
2001
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
2002
2003
2004
Tax revenues up by
6.7% in 2007
2005
2006
2007
0.00%
1.00%
Source: Ministry of Finance
2.00%
3.00%
4.00%
5.00%
29
Current Account and Net Foreign
Debt
In 2003, current account turned positive,
conversely with the decrease of the net foreign debt.
6.0%
6.0%
5.0%
3.3%
4.0%
3.0%
2.0%
3.2%
2.4%
Net Foreign Debt
1.2%
-1.3% -0.6%
1.0%
2.8%
0.0%
5%
-1.0%
0%
-2.0%
2001
2002
2003
2004
2005
2006
2007
0.1%
-2.3%
-5%
-5.7%
-8.2%
-10%
Current Account
-15%
-15.5%
-20%
-22.7%
-25%
-25.2%
-30%
2000
Source: Bank of Israel
2001
2002
2003
2004
2005
2006
2007
30
Gross Tax Burden (as % of GDP)
Tax burden has been in the vicinity of OECD average since 2003
38.1%
38.1%
37.5%
37.3%
37.1%
36.8%
36.4%
1999
2000
2001
2002
2003
36.4%
2004
36.4%
2005
2006
2007
- - - OECD countries average: 36.2%*
Source: Ministry of Finance, OECD
*As of 2005
31
International comparisons
and additional data
Press for desired slide or continue:
33
Capital Raised by Israeli Venture Capitals
34
Central Bank Interest Rates
35
NASDAQ and Tel Aviv 100 Indices
36
Israel’s Credit Rating
37
Global Competitiveness Index
38
Global Competitiveness Index: Selected Issues
40
Business Competitiveness Index ;
Network Readiness Index
41
Figures from Tel Aviv Stock Exchange
Back to Contents
Capital Raised by Israeli Venture
Capitals (By Vintage Year*)
ICT** product has been growing rapidly in recent years,
exceeding the rate of total growth
3000
2500
2000
1500
1000
500
0
1998
1999
2000
2001
2002
Vintage year – first capital call or first investment, Including venture lending.
Source: Israel Venture Capital (IVC)
2003
2004
2005
2006
2007
**Information and communication technologies.
33
Central Bank Interest Rates
Israel vs. U.S.A
Bank of Israel Rate
6%
5%
3.75%
4%
3%
U.S. Federal Funds Rate
2%
2.0%
1%
7
6
5
4
3
2
1
12
11
10
9
8
7
6
5
4
3
2
1
12
11
10
9
8
7
6
5
4
3
2
1
12
11
10
9
8
7
6
5
4
3
2
1
0%
2005
Source: Bank of Israel (BOI), Federal Reserve
2006
2007
2008
34
NASDAQ & Tel Aviv 100
(monthly average)
4000
1200
Nasdaq (left scale)
1100
3500
1000
Tel Aviv 100 (right scale)
900
3000
800
2500
700
600
2000
500
400
1500
300
1000
200
y
ry
08
20
07
20
a
nu
Ja
l
Ju
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.
35
Israel’s Credit Rating 1992-2008
Moody's raised Israel bond ratings to 'A1' from 'A2'
A1/A+
A2/A
A3/ABaa1/BBB+
Baa2/BBB
Moody's A1
S&P A Positive
Fitch A Stable
Baa3 /BBB-
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Source: Credit Rating Agencies, Accountant General
36
Global Competitiveness Index,
2007-2008
Israel Ranks 17th out of 125 Countries
2
1
6
9
13
16
17
20
18
22
26
27
25
29
39
58
d
A
S lan
U
er
it z
w
S d
an
nl
Fi
on
st
in
pa ia
en
v
lo
a
si
K
U
a
ad
an
C
ay
w
or
N
el
ra
Is
ce
an
Fr m
u
gi
el
B
d g
r
an
el ou
Ir
b
m
xe
Lu
le
hi
C ia
E
S
S
us
R
Countries that have been invited for open discussions for joining the OECD.
Source: World Economic Forum, Global Competitiveness Index, 2007-8
37
Global Competitiveness Index, 2007/8
SELECTED CATEGORIES
Venture Capital Availability
Availability of Scientists & Engineers
United States
Finland
Netherlands
Israel
Israel
India
Denmark
Sweden
Hong Kong SAR
Switzerland
Australia
United States
Singapore
Korea, Rep.
Korea, Rep.
Germany
Germany
Belgium
Estonia
Norway
0
5
10
15
20
25 RANK
0
Quality of Scientific Research Facilities
Switzerland
Israel
United States
United Kingdom
Japan
Finland
Korea, Rep.
Sweden
Israel
Netherlands
Denmark
Singapore
Finland
Ireland
United Kingdom
Norway
Ireland
Hong Kong SAR
Hong Kong SAR
5
10
15
20
25 RANK
Source: World Economic Forum, Global Competitiveness Index, 2007-8
10
15
20
25 RANK
Company Spending on R&D
Switzerland
0
5
0
5
10
15
20
25 RANK
38
Global Competitiveness Index, 2007/8
SELECTED CATEGORIES (con.)
Strength of Investor Protection
Availability of Latest Technologies
New Zealand
Finland
Hong Kong SAR
Israel
Israel
India
Ireland
Sweden
United States
Switzerland
United Kingdom
United States
Japan
Korea, Rep.
Norway
Germany
Denmark
Belgium
Chile
Norway
0
5
10
15
20
0
25 RANK
Utility Patents
Hong Kong SAR
Israel
United Kingdom
United Kingdom
New Zealand
Finland
Singapore
Sweden
Germany
Netherlands
Israel
Singapore
Ireland
Ireland
Canada
Norway
United States
Hong Kong SAR
Iceland
5
10
15
10
15
20
25 RANK
Legal Rights Index
Switzerland
0
5
20
25 RANK
Source: World Economic Forum; Global Competitiveness Index, 2007-8
0
5
10
15
20 RANK
39
The business climate is a critical element of
sustained economic growth
Network Readiness Index (NRI)* 2006-7
Denmark
Switzerland
United States
United Kingdom
Canada
Japan
Germany
Israel
Estonia
Portugal
Slovenia
Chile
Greece
Russia
Business
Competitiveness
Index
2007-8
5.71 (1)
5.58 (5)
5.54 (7)
5.45 (9)
5.35 (11)
12
5.27 (14)
16
5.22 (16)
19
5.14 (18)
22
25
5.02 (20)
27
4.48 (28)
30
4.41 (30)
36
4.36 (31)
46
49
3.98 (48)
55
3.54 (70)
64
2
5
8
.A
.S
U
y
an
m
er
G
k
ar
m
s
en
nd
la
er
D
N
h
et
K
U
d
an
el
Ic
el
d
ra
an
Is
al
Ze
ew
N
nd
la
Ire
a
ni
to
Es
n
ai
Sp
le
hi
C
al
ug
rt
Po ia
en
ov
Sl
ly
Ita
a
si
us
R
Countries that have been invited for open discussions for joining the OECD
1
Source: World Economic Forum; Global Competitiveness Index (GCI), 2006; Global Information Technology Report
*NRI: Measures the level of ICT (Information and Communication Technologies) development of nations [LINK TO SITE]
**GCI: Provides a holistic overview of factors critical to productivity and competitiveness [LINK TO SITE]
40
Israel and the OECD
Press for desired slide or continue:
43 Real GDP growth in 2007-8
44 Unemployment Rate in 2007-8
45 GDP Based on PPP per Capita in 2006
Back to Contents
Real GDP Growth
(Annual percentage of change, partial list)
OECD has given Israel the Roadmap for accession to the organization...
12%
10%
8%
07’ 5.3%
08’ - 4.2%
6%
07’ 08’
4% 2.7%
1.8%
2%
0%
w
Ne
Ze
n
ala
d
es
at
St
k
ar
m
n
De
d
te
d
te
n
pa
d
Ja
lan
er
m
it z
do
Sw
ng
Ki
i
Un
i
Un
n
ai
d
an
nl
Sp
Fi
da
na
Ca
en
ed
Sw
rg
u
bo
nd
la
Ire
el
ra
Is
ea
m
xe
r
Ko
Lu
ey
ic
rk
bl
Tu
pu
Re
ak
ov
Sl
ea
ar
ro
Eu
D
EC
lO
ta
To
Source and projections: OECD and the Ministry of Finance, Israel
42
Unemployment Rate
(average)
Following the Roadmap, Israel has already submitted the initial memorandum
Norway
Switzerland
Korea
United States
Ireland
08’ 07’
Italy
Finland
Hungary
08’
07’
Israel
Portugal
Spain
Greece
Slovak Republic
08’ 07’
Euro area
08’ 07’
Total OECD
0%
2%
Source: OECD, Ministry of Finance
3%
5%
6%
8%
10%
11%
43
GDP per capita
based on purchasing-power-parity (PPP)
2007, (in US$)
90,000
18 professional Israeli teams are currently answering OECD
questionnaires, designated to review Israel’s policy
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
ey
rk
Tu o
ic
ex
M d
n
la
Po ary bl ic
ng ep u
Hu R
ak
ov l
Sl
ic
ga b l
rt u pu
Po Re
h
ec
Cz
a
re
Ko
el
ra
Is
ly
Ita
n
ai
e
Sp e
c
ag
a n ver
Fr
A
D
EC
O any
m
er
G
m
n
do
pa i ng
Ja
K
d
it e
Un d
n
nla
Fi ark
d
nm la n
De e a
Z
w nd
Ne erla
itz
Sw d
s
lan ate
Ire St
d
it e
Un y
a
rw urg
No bo
m
xe
Lu
Source: Economics and Research Department calculations from OECD and the Central Bureau of Statistics data
44
International Treaties
Press for desired slide or continue:
44
Israel’s Free Trade Agreements
45-6
Avoidance of Double Taxation Agreements
47
Cooperation in Industrial R&D Agreements
48-9
Protection of Investments Agreements
50
International Organization Memberships
Back to Contents
Israel’s Free Trade
Agreements
1985
USA
1999
Mexico
1992
EFTA
2000
European Union
(Association Agreement)
1997
Turkey
1997
Canada
2007
MERCOSUR
46
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
47
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
The agreement with Portugal has been recently ratified
48
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
49
Protection of Investment
Agreements
Albania
El-Salvador
Argentina
Estonia
Armenia
Georgia
Belarus
Germany
Bulgaria
Hungary
Croatia
India
Cyprus
Czech Republic
Kazakhstan
Korea
50
Protection of Investment
Agreements (con.)
Latvia
Turkmenistan
Lithuania
Ukraine
Moldova
Uruguay
Poland
Uzbekistan
Romania
Slovakia
QIZ Agreement
Slovenia
Egypt
Thailand
Jordan
Turkey
51
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 | MIGA
OAS (observer) | OECD (candidate) | OPCW (signatory)
OSCE (partner) | PCA | UN | UNCTAD | UNECE | UNEP
UNESCO | UNHCR | UNIDO | UPU | WB | WCO | WFP | WHO
WIPO | WMO | WTOO | WTRO | WTO
* Economic Organizations
52
Relevant Sites
International Affairs Department Homepage:
WWW.FINANCEISRAEL.MOF.GOV.IL
Government Institutions:
OECD Stat Profile on Israel
Economic News:
“The Marker”
Bank of Israel (BOI)
Central Bureau of Statistics
Israeli Government Portal
Ministry of Finance
Israel Securities Authority
Ministry of Industry, Trade and Labor
OECD Israel
Back to Contents
“Globes”
We welcome your feedback!
Contact:
Ms. Ravit Friedberg
International Affairs Department
Ministry of Finance, Jerusalem, Israel
[email protected]
Click here for our website!
www.FINANCEISRAEL.mof.gov.il
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