Israeli-South African Trade, Technology and Economic Ventures

Israeli Growth Per Capita in 2009 2nd Highest Among OECD Countries

The Central Bureau of Statistics said that Israel’s GDP rose by an annualized 4.9% in the fourth quarter of 2009 and that growth for the year was 0.7%, slightly higher than earlier estimates. Given Israel’s population growth rate of 1.7%, GPD per capita only declined by 1.1%, placing it second among OECD countries for having the lowest negative growth per capita after Australia; the OECD average was minus 4%.

Israel’s central bank, Morgan Stanley and other financial institutions have forecasted 3.5% real GDP growth for Israel in 2010 in the absence of extraordinary developments, and Fischer has said the economy may grow more than that if the global recovery accelerates.