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ECONOMIC HIGHLIGHTS

STATE OF ISRAEL MINISTRY OF FINANCE INTERNATIONAL AFFAIRS DEPARTMENT. ECONOMIC HIGHLIGHTS. July 8, 2007. Contents:. Economic Figures. Balances. International Comparisons, additional data and industry. Israel and the OECD. International Treaties. Note:

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ECONOMIC HIGHLIGHTS

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  1. STATE OF ISRAELMINISTRY OF FINANCEINTERNATIONAL AFFAIRS DEPARTMENT ECONOMIC HIGHLIGHTS July 8, 2007

  2. Contents: • Economic Figures • Balances • International Comparisons, additional data and industry • Israel and the OECD • International Treaties Note: You can return to the beginning of each chapter by clicking the button on the top left side.

  3. 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

  4. Economic Figures Press for desired slide or continue: Main Indicators and Forecast GDP and GDP per Capita Major GDP Components GDP and Exports Growth Exports of Goods and Services Exports of Goods by Region Structure of Industrial Exports Imports of Goods and Services Imports of goods by Region Foreign Investments Unemployment Rate New Employed Persons Inflation Rate Estimations for 2007 Back to Contents

  5. Economic Figures Main Economic Indicators and forecast • Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance – Economics and Research Department. • 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 by the Ministry of Finance. 5

  6. Economic Figures GDP and GDP per Capita (Annual rate of Change (%), in Constant Prices) 6 Source: Central Bureau of Statistics, Ministry of Finance

  7. Economic Figures Major GDP Components(Annual rate of Change (%), in Constant Prices) 7 Source: Central Bureau of Statistics, Ministry of Finance

  8. Economic Figures GDP Growth and Exports Growth(Cumulative Rate (%) of Growth by Period) 8 Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

  9. Economic Figures Exports of Goods and Services (B$) 9 Source: Central Bureau of Statistics

  10. Economic Figures Exports of Goods by Region(exc. Diamonds) 2006 Of which: USA: 31.4% 2007 Q1 10 Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

  11. Economic Figures Structure of Industrial Exports 25% 25% 26% 27% 23% 24% 27% 26% 35% 75% 75% 74% 77% 73% 76% 74% 73% 65% 11 Jan-Mar, seasonally adjusted, at annual rate.

  12. Economic Figures Imports of Goods and Services (B$) 12 Source: Central Bureau of Statistics

  13. Economic Figures Imports of Goods by Region 2006(excluding Diamonds) Of which: USA: 13.4% 13 Source: Central Bureau of Statistics, Bank of Israel, Ministry of Finance

  14. Economic Figures Foreign Investments(B$) 14 Source: Ministry of Finance

  15. Economic Figures Unemployment Rate by Quarters(Rate of Total Labor Force) 15 Source: Central Bureau of Statistics

  16. Economic Figures New Employed Persons in 2006(Change in Israeli Employed Persons, in Thousands) 16 Source: Ministry of Finance

  17. Economic Figures Inflation Rate (Rate of Change in CPI, end of year) 17 Source: Central Bureau of Statistics, Ministry of Finance

  18. Economic Figures Estimated Growth of Main GDP Components 2007 18 Source: Ministry of Finance

  19. Balances Press for desired slide or continue: Gross Public Debt Budget Deficit Current Account Net Foreign Debt General Government Expenditure Gross Tax Burden Back to Contents

  20. Balances Gross Public Debt(as percentage of GDP) 20 Source: Ministry of Finance

  21. Balances Budget Deficit(As percentage of GDP) Budget proposal (Expected: 1.5%) 21 Source: Ministry of Finance, April 2007

  22. Balances Current Account(As percentage of GDP) 22 Source: Bank of Israel

  23. Balances Net Foreign Debt(As percentage of GDP) 23 Source: Ministry of Finance

  24. Balances General Government Expenditure(As percentage of GDP) 24 Source: Ministry of Finance

  25. Balances Gross Tax Burden(As percentage of GDP) 25 Source: Ministry of Finance

  26. International comparisons and additional data Press for desired slide or continue: ICT and Business Sector’s Product Main Trading Partners Central Bank Interest Rates Nasdaq and Tel Aviv 100 Indices Israel’s Credit Rating Global Competitiveness Index Business Competitiveness Index Network Readiness Index Dividend Distribute in past years Back to Contents

  27. Additional data Israel’s ICT* and Business Sector’s Product (Annual % change) * Information and Communication Technology Source: Central Bureau of Statistics 27

  28. Additional data Israel’s Main Trading Partners, 2006($US Billions) 14.8 4.9 3.3 3.1 3 2.8 2.3 2.1 2.1 2 28 Source: Central Bureau of Statistics

  29. Additional data Capital Raised by Israeli VC Funds* (M$) *In vintage year: Year of first closing or first investment. Source: IVC – Israel Venture Capital Research Center 29

  30. Additional data Central Bank Interest RatesIsrael vs. U.S.A Currently: 5.25% Bank of Israel Rate Currently: 3.5% Federal Reserve Rate 2004 2005 2006 2007 30 Source: Bank of Israel, Federal Reserve

  31. Additional data Nasdaq Index & Tel Aviv 100 (monthly average) 31 Source: Tel Aviv Stock Exchange (TASE) and the Ministry of Finance.

  32. Additional data A1/A+ A2/A A3/A- Baa1/BBB+ Baa2/BBB Baa3 /BBB- Israel’s Credit Rating 1992-2007 32 Source: Credit Rating Agencies, Accountant General

  33. Additional data Global Competitiveness Index, 2006Israel Ranks 15 Out of 125 Countries (2005 Rank was 23) 1 4 6 8 10 15 18 21 24 28 34 42 47 48 58 59 33 Source: World Economic Forum, Global Competitiveness Index, 2006

  34. Additional data Business Competitiveness Index, 2006Israel Ranks 19 Out of 121 Countries (2005 Rank was 22) 1 2 5 8 12 16 19 22 25 27 30 36 46 49 55 64 34 Source: World Economic Forum, Global Competitiveness Index, 2006

  35. Additional data Network Readiness score, 2006 5.71 (1) 5.58 (5) 5.54 (7) 5.45 (9) 5.35 (11) 5.27 (14) 5.22 (16) 5.14 (18) 4.99 (23) 4.48 (28) 4.35 (32) 4.19 (38) 3.98 (48) 3.86 (52) 35 Source: World Economic Forum, Global Information Technology Report 2006

  36. Additional data Dividend Distribute in the Past Years(NIS Millions) 36 Source: Tel Aviv Stock Exchange

  37. Israel and the OECD Press for desired slide or continue: Real GDP growth in 2006 Nominal GDP growth in 2006 Unemployment Rate in 2006 GDP per Capita in 2006 GDP Based on PPP per Capita in 2006 (IMF) GDP Based on PPP per Capita in 2005 (OECD) Back to Contents

  38. Israel and the OECD Real GDP Growth in 2006 (Annual percentage of change, Partial list) 5.1% 3.17% 38 Source: OECD and the Ministry of Finance, Israel

  39. Israel and the OECD Nominal GDP Growth in 2006 (Annual percent of change, Partial list) 7.51% 5.48% 39 Source: OECD and the Ministry of Finance, Israel

  40. Israel and the OECD Unemployment Rate 2006 (average) 7.8% 8.4% 6.0% 40 Source: OECD, and the Central Bureau of Statistics, Israel

  41. Israel and the OECD Source: IMF, Ministry of Finance Countries that have been invited for open discussions for joining the OECD. GDP per capita in 2006 ($US) 19,911 18,610 12,203 8,864 6,856 41

  42. Israel and the OECD Source and PPP calculated formula: IMF (Estimation) Countries that have been invited for open discussions for joining the OECD. GDP(based on purchasing-power-parity (PPP) ) per capita2006 ($US) 30,464 23,843 18,215 12,982 12,096 42

  43. Israel and the OECD GDP(based on purchasing-power-parity (PPP) ) per capita2005 ($US) 30,065 26,051 43 Source and PPP calculated formula: OECD

  44. International Treaties Press for desired slide or continue: Israel’s Free Trade Agreements Avoidance of Double Taxation Agreements Cooperation in Industrial R&D Agreements Protection of Investments Agreements International Organization Memberships Back to Contents

  45. International Treaties USA (1985) EFTA (1992) Jordan (1995):Bilateral Trade Agreement Turkey (1997) Mexico (1999) European Union – Association Agreement (2000) Romania (2000) Bulgaria (2002) Israel’s Free Trade Agreements Canada (1997) { Both Romania and Bulgaria have recently joined the European Union 45

  46. International Treaties Austria Belarus Belgium Brazil Bulgaria Canada China Czech Republic Denmark Finland France Germany Greece Hungary India Ireland Italy Jamaica Japan Latvia Avoidance of Double Taxation Agreements 46

  47. International Treaties Lithuania Luxembourg Mexico Norway Philippines Poland Romania Russia Singapore Slovakia South Africa South Korea Spain Sweden Switzerland Thailand The Netherlands Turkey Ukraine United Kingdom Uzbekistan USA Avoidance of Double Taxation Agreements (con.) 47

  48. 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 48

  49. International Treaties Albania Argentina Armenia Belarus Bulgaria Croatia Cyprus Czech Republic El-Salvador Estonia Georgia Germany Hungary India Kazakhstan Korea 49 Protection of Investment Agreements

  50. International Treaties Latvia Lithuania Moldova Poland Romania Slovakia Slovenia Thailand Turkey Turkmenistan Ukraine Uruguay Uzbekistan QIZ Agreement Egypt Jordan 50 Protection of Investment Agreements(con.)

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