Tag Archive for Israel economy

| April 29, 2013
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Israeli exports have jumped from $6M to $91B

The Israeli economy has skyrocketed from 138th place to 29th in total exports since 1948.

 

‘In its 65 years, Israel has enjoyed fast growth based, among other things, on the fast and significant increase in exports,’ says Export Institute chairman.

By Avital Lahav

In its 65 years of existence, the State of Israel‘s volume of exports (goods and services) has grown 15,000 times, from some $6 million in 1948 to some $91 billion in 2012, the Israel Export and International Cooperation Institute (IEICI) reported Tuesday in honor of Independence Day.

Israeli exports - Photo Avishag Shaar Yashuv

Israeli exports – Photo: Avishag Shaar Yashuv

According to IEICI calculations, this is the sixth highest growth rate in the world during that period, putting the Israeli economy in the 38th place in terms of export volumes and 29th in terms of exports per capita, after South Korea and Britain and before France, Spain, Italy, Japan and the United States. Continue Reading »

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| April 18, 2013
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Bank of Israel tested in new battle to tame Shekel

Central bank may intervene to weaken the Israeli Shekel since lowering its benchmark interest rate, now at 1.75%, could further inflame housing prices, which have rallied 50% in past 4 years.

Reuters

After standing by for months, the Bank of Israel has finally run out of patience and could face a lengthy battle to rein in the shekel as Japan’s massive stimulus drives funds into emerging markets.

Israeli shekel. - Photo Shutterstock

Israeli shekel. Gained more than 5% over past four months, posing risk to exports – Photo: Shutterstock

The shekel has gained more than 5% over the past four months against the dollar and the euro, posing a risk to Israel’s exports which account for 40% of economic activity. Continue Reading »

Category: Israel News | Tags: , , ,
| January 21, 2013
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Thousands of Applicants flood Ashdod Port

Reports on the phantasmagorical working conditions for Ashdod Port workers are doing their bit to herd applicants towards the port.

By Avi Bar-Eli
 

The reports on the working conditions for Ashdod Port workers are doing their bit, it would seem: 3,000 candidates applied within a few days for the 45 new stevedore slots at the port.

Ashdod Port

Ashdod Port, apparently quite a wonderful place to work. – Photo: Ilya Melnikov

About half a year ago the Ashdod Port Company published a tender to hire stevedores, based on anticipation of employees retiring over the next few years and growing activity at the port. Continue Reading »

Category: Jewish News | Tags: ,
| January 16, 2013
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Inflation rate for 2012 was at 6-year low

Consumer price index in Israel up 0.2% in December, Central Bureau of Statistics reports. Annual inflation rate totals 1.6% compared to 2.2% in 2011, 2.7% in 2010

By Amnon Atad, Calcalist

 

Israel‘s annual inflation rate continued to fall in 2012, reaching its lowest level in the past six years, the Central Bureau of Statistics reported Tuesday.

2012 inflation rate at 6-year lowDecember’s consumer price index rose by a moderate 0.2%, after the previous two months recorded a negative CPI – down 0.5% in November and 0.2% in October. September’s CPI remained unchanged from August.

The inflation rate for 2012 totals 1.6%, compared to 2.2% in 2011 and 2.7% in 2010. Continue Reading »

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| November 15, 2012
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Finance Ministry: Israel’s economy currently growing at 3.4% annual rate.

Bank of Israel Governor Stanley Fischer tells Bloomberg Businessweek that because recent economic indicators are “more positive” than they were in October, Israel’s economy could grow by more than 3% in 2013

By Zeev Klein and Israel Hayom Staff

 

Israel’s economy may grow by more than the 3 percent previously forecast for 2013, Bank of Israel Governor Stanley Fischer said in an interview published by Bloomberg Businessweek on Wednesday.

Bank of Israel Governor Stanley Fischer says he is more optimistic about the Israeli economy than he was two months ago. – Photo: Dudi Vaaknin

Fischer said the most recent economic indicators were “more positive” than they were when the Bank of Israel Monetary Committee cut Israel’s interest rate in October.

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| May 9, 2012
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Finance Minister Steinitz: 44,300 new jobs created in March

Finance Minister presents government with data that some 44,300 new job opportunities opened in March, could Indicate period of economic growth

 

Finance Minister Yuval Steinitz on Monday presented the government with data that stated that some 44,300 new job opportunities opened in March. This after the number of jobs on the market decreased by 16,200 in February.

According to the minister, some 270,000 new jobs were created over the past three years. He added that it was possible to see that over the last few years the Israeli market was creating jobs at a higher rate than the rate of employees joining the market, which may indicate that the drop in unemployment in Israel comes as a result of growth rather than a low percentage of participation in the workforce. Continue Reading »

Category: Jewish News | Tags:
| May 2, 2012
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Fischer: Social protest contributed to recession

Bank of Israel governor says protest was contributing factor in drop in growth as Israeli consumer ‘did not want to spend too much money’

The social protest contributed to the recession and the drop in growth, Bank of Israel Governor Stanley Fischer said Wednesday. “The Israeli consumer did not want to spend too much money,” he added.

Speaking at the Knesset’s Finance Committee, Fischer also addressed the crisis in Europe. “We are preparing for the possibility that the Euro zone will collapse but I don’t see this risk as very likely,” he said.

The Bank of Israel governor explained that the real estate market is still in bad shape, as more apartments become available but are not being sold. Continue Reading »

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