Corona year: GDP data surprised for good | Israel Today

Despite the Treasury's forecasts, the CBS publication revealed a limited decline of only 2.4%. • In a global comparison, Israel is in a good position after Norway, which experienced a decline of only 0.8%.

• Surprising CBS data

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  Dudu Greenspan

The Central Bureau of Statistics released today (Tuesday) the GDP data, which were surprisingly good compared to the Ministry of Finance's forecast - and revealed a small drop compared to all expectations.

During the year of GDP (gross domestic product) it decreased by only 2.4% compared to 2019 - then there was an increase of 3.4%.

As for international comparison, Israel ranks after Norway where there was a decrease of only 0.8%.

However, Israel is in a better place than the other countries.

For example, in the United States there was a decrease of 3.5%, Germany with a decrease of 5%, France with a decrease of 8.3%, in the United Kingdom a decrease of 9.9% and in Spain the Tomer decreased by 11%. The OECD average was 5.5%. %.

As for the gross domestic product per capita, there was a decrease of 4.1% in Israel, similar to Sweden.

Norway is in a better position with a decrease of 1.5%.

In Ireland there was a decrease of 4% in the USA there was a decrease of R 4.2%, in Germany of 5.1%, in France of 8.7%, in the United Kingdom there was a decrease of 10.4% and in Spain of 11.4%. The decrease in the OECD countries was 11.4%.

As for the product and its components, imports of goods and services decreased during 2020 by 8.1% and private consumption expenditure decreased by 9.4%.

Exports of goods and services, excluding start-ups and diamonds, increased by 1.7% during 2020 and exports of goods and services increased by 0.6%.

Among the CBS data, business output amounted to NIS 1.010 billion. Business output decreased by 3%, public services and non-profit organizations decreased by 3.3% and housing services increased by 2.8%.

The general government deficit as a percentage of GDP was 11.2%, while the OECD average was 11.5%. Total revenue decreased by 2.8% compared to an increase of 3.3% in the previous year. Expenditure increased by 15.4% compared to an increase of 4.5% In the previous year.