CBS: A decrease of 1.9% in GDP in the first quarter of 2022

Another sign of a slowdown in the economy: In the first quarter of 2022, there was a decline in GDP in Israel.

Another CBS report is more encouraging, but relates to last year: exports of high-tech industries amounted to $ 20 billion in 2021. This is an increase of 23.9% compared to 2020

Between Ashkenazi

16/06/2022

Thursday, 16 June 2022, 13:46 Updated: 13:54

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The Central Bureau of Statistics (CBS) publishes a second estimate for the first quarter of 2022, which shows that there has been a decrease of 1.9% in GDP.

The data also show that there is a 1.5% decrease in private consumption expenditure.

However, there has been a 2.1% increase in investments in fixed assets, which may explain the rise in real estate prices.

Another interesting report that the CBS publishes today concerns high-tech exports.

According to the Central Bureau of Statistics, the distribution of exports by technological power in 2021 shows that exports of high-tech industries accounted for 40% of total industrial exports, compared with 37% in 2020.

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The data also show that exports of high-tech industries amounted to $ 20 billion in 2021, an increase of 23.9% compared to 2020. Most of the increase was in the computer manufacturing, electronic and optical equipment industry.

And what about exports that are not based solely on high technology?

Well, according to the same CBS report, exports of high-tech technology industries were 37%, compared to 42% in 2020. While exports of traditional mixed-tech industries totaled $ 7.7 billion in 2021, exports of traditional technology industries totaled 3.8 $ 1 billion in 2021. In

any case, it should be remembered that the data refer to last year, 2021, which was a record year for the Israeli economy.

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