Israel GDP 3Q2013

by Eduardo Petazze
The Central Bureau of Statistics Israel released its third estimaion for the Third Quarter 2013 of GDP
In the 3rd quarter of 2013 the GDP of Israel grew 2.4% Y/Y (+2.3% Q/Q, SAAR), in real terms.
The implied inflation in the PCE suffered a marked decline from 2.45% Y/Y in 3Q2012 to 1.77% Y/Y in 3Q2013 due to deflation in the prices of imports.
For 2013, revising down the official expectation of GDP growth of 3.44% Y/Y (see Israel GDP 2013 estimate), at a level of 3.4%, similar to 2012.
Nominal GDP, NSA at Market Current Prices
GDP
Imports
Uses
Exports
GFCF
Govern consumpt
Private consumpt
NIS
Inventory
Million Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
2008
764,697
6.39% 301,318
-0.38% 1,066,015
4.38% 295,719
-0.07% 151,567
8.05% 180,297
6.09% 436,654
6.92%
-1,779
2009
809,230
5.82% 249,313
-17.26% 1,058,543
-0.70% 271,993
-8.02% 147,578
-2.63% 188,579
4.59% 455,349
4.28%
4,956
2010
866,231
7.04% 287,814
15.44% 1,154,045
9.02% 302,918
11.37% 160,286
8.61% 201,390
6.79% 492,725
8.21%
3,274
2011
923,900
6.66% 332,592
15.56% 1,256,492
8.88% 328,001
8.28% 188,777
17.78% 212,802
5.67% 529,208
7.40%
2,297
2012
993,365
7.52% 357,386
7.45% 1,350,751
7.50% 359,361
9.56% 202,841
7.45% 227,470
6.89% 558,525
5.54%
-2,553
2013 1,050,350
5.74% 327,750
-8.29% 1,378,100
2.02% 340,330
-5.30% 201,700
-0.56% 237,170
4.26% 592,935
6.16%
-5,965
Q1 210,235
11.77% 66,846
17.63% 277,081
13.13% 71,349
10.80% 36,945
19.15% 49,326
7.11% 116,982
13.93%
-2,480
Q2 215,015
11.62% 70,627
17.09% 285,642
12.93% 76,877
15.63% 39,338
28.56% 51,130
6.66% 119,145
10.59%
848
2010
Q3 219,804
12.98% 74,408
14.69% 294,212
13.41% 75,025
19.08% 40,043
26.05% 49,833
6.66% 131,188
11.37%
1,877
Q4 221,176
15.99% 75,933
15.46% 297,109
15.86% 79,667
7.38% 43,959
38.23% 51,102
9.54% 125,410
12.16%
3,029
Q1 222,178
5.68% 78,163
16.93% 300,341
8.39% 80,797
13.24% 44,432
20.26% 52,652
6.74% 128,160
9.56%
5,699
Q2 228,374
6.21% 81,529
15.44% 309,903
8.49% 80,810
5.12% 44,811
13.91% 53,125
3.90% 129,319
8.54%
-1,838
2011
Q3 235,309
7.05% 86,582
16.36% 321,891
9.41% 82,089
9.42% 48,017
19.91% 53,402
7.16% 140,942
7.44%
2,558
Q4 238,038
7.62% 86,318
13.68% 324,356
9.17% 84,305
5.82% 51,518
17.20% 53,623
4.93% 130,787
4.29%
-4,123
Q1 238,347
7.28% 90,813
16.18% 329,160
9.60% 84,140
4.14% 51,125
15.07% 56,330
6.98% 134,999
5.34%
-2,566
Q2 245,756
7.61% 90,048
10.45% 335,804
8.36% 94,967
17.52% 50,284
12.21% 57,606
8.43% 135,888
5.08%
2,941
2012
Q3 255,537
8.60% 92,388
6.71% 347,925
8.09% 90,926
10.77% 50,151
4.44% 55,563
4.05% 148,423
5.31%
-2,862
Q4 253,725
6.59% 84,137
-2.53% 337,862
4.16% 89,328
5.96% 51,281
-0.46% 57,972
8.11% 139,215
6.44%
-65
Q1 253,015
6.15% 81,430
-10.33% 334,445
1.61% 86,594
2.92% 48,438
-5.26% 58,707
4.22% 142,305
5.41%
1,600
Q2 264,476
7.62% 82,009
-8.93% 346,485
3.18% 89,284
-5.98% 50,233
-0.10% 61,841
7.35% 145,084
6.77%
-44
2013
Q3 268,649
5.13% 85,042
-7.95% 353,691
1.66% 78,338
-13.84% 51,582
2.85% 59,734
7.51% 157,233
5.94%
-6,804
Q4 264,210
4.13% 79,269
-5.79% 343,479
1.66% 86,114
-3.60% 51,446
0.32% 56,888
-1.87% 148,313
6.54%
-718
Real GDP, NSA at Market Chained (2010) Prices
GDP
Imports
Uses
Exports
GFCF
Govern consumpt
Private consumpt
NIS
Residual
Million Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
Value
Y/Y
2008
809,689
4.45% 289,699
2.37% 1,099,388
3.90% 300,328
6.17% 153,107
9.40% 189,163
2.77% 459,321
1.62%
2,531
2009
819,793
1.25% 250,008
-13.70% 1,069,801
-2.69% 265,266
-11.67% 146,282
-4.46% 194,966
3.07% 469,347
2.18%
6,059
2010
866,230
5.66% 287,814
15.12% 1,154,044
7.87% 302,918
14.19% 160,285
9.57% 201,390
3.30% 492,725
4.98%
3,274
2011
905,847
4.57% 318,159
10.54% 1,224,006
6.06% 325,124
7.33% 185,421
15.68% 206,482
2.53% 511,356
3.78%
4,377
2012
936,209
3.35% 325,493
2.31% 1,261,703
3.08% 328,106
0.92% 191,937
3.51% 213,189
3.25% 527,802
3.22%
-669
2013
968,445
3.44% 319,655
-1.79% 1,288,100
2.09% 325,955
-0.66% 190,875
-0.55% 218,000
2.26% 548,863
3.99%
-4,407
Q1 210,411
2.68% 67,000
16.39% 277,411
5.68% 70,850
13.76% 36,851
1.98% 50,583
1.61% 118,955
7.29%
-172
Q2 214,738
4.93% 70,764
18.16% 285,502
7.92% 75,958
21.47% 39,459
9.75% 50,203
2.82% 120,142
5.63%
259
2010
Q3 218,134
4.70% 73,266
10.67% 291,400
6.14% 74,225
18.44% 39,889
6.59% 49,242
1.79% 129,640
5.08%
1,596
Q4 222,947
7.58% 76,784
14.46% 299,731
9.26% 81,885
9.45% 44,087
16.25% 51,363
3.37% 123,988
5.85%
1,591
Q1 221,029
5.05% 75,221
12.27% 296,250
6.79% 78,932
11.41% 43,780
18.80% 52,725
4.23% 125,697
5.67%
4,883
Q2 223,544
4.10% 80,755
14.12% 304,299
6.58% 82,192
8.21% 44,721
13.34% 50,435
0.46% 125,157
4.17%
-1,793
2011
Q3 230,678
5.75% 81,649
11.44% 312,327
7.18% 81,798
10.20% 47,120
18.13% 51,069
3.71% 135,009
4.14%
2,669
Q4 230,596
3.43% 80,534
4.88% 311,130
3.80% 82,202
0.39% 49,801
12.96% 52,253
1.73% 125,493
1.21%
-1,382
Q1 229,695
3.92% 83,991
11.66% 313,686
5.89% 79,197
0.34% 48,747
11.35% 54,574
3.51% 129,184
2.77%
-1,984
Q2 230,030
2.90% 83,390
3.26% 313,420
3.00% 87,274
6.18% 48,120
7.60% 52,452
4.00% 129,266
3.28%
3,693
2012
Q3 238,091
3.21% 81,650
0.00% 319,742
2.37% 80,373
-1.74% 46,977
-0.30% 51,098
0.06% 138,777
2.79%
-2,517
Q4 237,767
3.11% 76,440
-5.08% 314,207
0.99% 81,445
-0.92% 48,038
-3.54% 54,563
4.42% 130,368
3.88%
207
Q1 236,334
2.89% 77,246
-8.03% 313,579
-0.03% 81,466
2.87% 45,273
-7.13% 55,056
0.88% 133,548
3.38%
1,764
Q2 242,058
5.23% 81,086
-2.76% 323,143
3.10% 85,840
-1.64% 47,749
-0.77% 55,004
4.86% 134,746
4.24%
196
2013
Q3 243,857
2.42% 84,474
3.46% 328,330
2.69% 76,487
-4.84% 48,566
3.38% 53,372
4.45% 144,460
4.10%
-5,446
Q4 246,197
3.55% 76,850
0.54% 323,047
2.81% 82,162
0.88% 49,287
2.60% 54,568
0.01% 136,108
4.40%
-921
Real GDP, SA at Market Chained (2010) Prices
GDP
Imports
Uses
Exports
GFCF
Govern consumpt
Private consumpt
NIS
Residual
Million Value Q/Q SAAR Value Q/Q SAAR Value Q/Q SAAR Value Q/Q SAAR Value Q/Q SAAR Value Q/Q SAAR Value Q/Q SAAR
2008
809,689
4.45% 289,699
2.37% 1,099,388
3.90% 300,328
6.17% 153,107
9.40% 189,163
2.77% 459,321
1.62%
2,531
2009
824,875
1.88% 247,648
-14.52% 1,072,523
-2.44% 260,607
-13.23% 146,282
-4.46% 197,227
4.26% 461,744
0.53%
-6,664
2010
864,803
4.84% 287,665
16.16% 1,152,468
7.45% 303,366
16.41% 160,092
9.44% 200,822
1.82% 492,078
6.57%
3,891
2011
905,527
4.71% 319,133
10.94% 1,224,660
6.26% 325,631
7.34% 185,259
15.72% 206,087
2.62% 511,594
3.97%
3,912
2012
937,130
3.49% 329,331
3.20% 1,266,461
3.41% 328,374
0.84% 192,047
3.66% 212,805
3.26% 527,754
3.16%
-5,480
2013
968,445
3.34% 319,655
-2.94% 1,288,100
1.71% 325,955
-0.74% 190,875
-0.61% 218,000
2.44% 548,863
4.00%
-4,407
Q1 211,918
6.03% 68,294
13.37% 280,212
7.76% 72,912
11.82% 37,588
8.65% 49,818
2.91% 120,235
1.52%
341
Q2 214,896
5.74% 71,382
19.35% 286,278
8.94% 74,813
10.84% 39,336
19.94% 49,581
-1.89% 121,406
3.96%
-1,141
2010
Q3 217,332
4.61% 72,282
5.14% 289,615
4.74% 76,255
7.94% 40,679
14.37% 50,304
5.97% 124,075
9.09%
1,699
Q4 220,657
6.26% 75,706
20.33% 296,363
9.65% 79,386
17.46% 42,525
19.43% 51,119
6.63% 126,363
7.58%
3,030
Q1 223,115
4.53% 78,629
16.36% 301,744
7.46% 80,819
7.42% 43,697
11.49% 50,564
-4.27% 127,012
2.07%
349
Q2 225,218
3.82% 79,542
4.73% 304,760
4.06% 82,321
7.65% 45,497
17.52% 50,977
3.31% 127,175
0.51%
1,210
2011
Q3 227,623
4.34% 79,845
1.53% 307,468
3.60% 81,437
-4.23% 47,706
20.88% 51,833
6.89% 128,217
3.32%
1,724
Q4 229,571
3.47% 81,117
6.52% 310,688
4.25% 81,055
-1.86% 48,385
5.82% 52,713
6.96% 129,190
3.07%
655
Q1 231,222
2.91% 87,056
32.66% 318,278
10.14% 80,865
-0.93% 49,346
8.19% 53,171
3.52% 131,161
6.24%
-3,734
Q2 232,985
3.09% 83,609
-14.92% 316,595
-2.10% 84,803
20.95% 48,635
-5.64% 52,940
-1.73% 131,458
0.91%
1,242
2012
Q3 235,421
4.25% 80,606
-13.61% 316,027
-0.72% 81,857
-13.19% 47,799
-6.70% 52,786
-1.16% 131,965
1.55%
-1,620
Q4 237,502
3.58% 78,059
-12.05% 315,561
-0.59% 80,848
-4.84% 46,350
-11.59% 53,909
8.79% 133,170
3.70%
-1,284
Q1 238,975
2.50% 78,977
4.79% 317,952
3.07% 83,267
12.51% 46,576
1.97% 53,733
-1.30% 134,681
4.62%
305
Q2 241,749
4.72% 80,188
6.28% 321,937
5.11% 83,434
0.81% 47,343
6.75% 54,790
8.11% 136,556
5.69%
186
2013
Q3 243,150
2.34% 82,191
10.37% 325,341
4.30% 79,212
-18.76% 49,449
19.02% 55,468
5.04% 138,197
4.90%
-3,014
Q4 244,571
2.36% 78,299
-17.64% 322,870
-3.00% 80,041
4.25% 47,507
-14.81% 54,009
-10.12% 139,429
3.61%
-1,884
Last data
Own estimate based on official estimate