Israel PESTLE Insights – A Macroeconomic Outlook Report
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Israel PESTLE Insights Report Overview
The GDP of Israel was $522 billion in 2022 and was ranked 21st of 153 nations in the GCRI Q3 2023. Following an unprecedented terrorist attack by Hamas on October 7, 2023, resulting in the loss of 1,400 lives in a single day, Israeli Prime Minister Benjamin Netanyahu declared war and initiated an operation in the Gaza Strip to eliminate Hamas. According to the Bank of Israel, the conflict is anticipated to lead to a contraction in Israel’s economy in Q4 2023.
Israel Macroeconomic Key Sector’s Contribution to the Economy
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The Israel PESTLE insights report consists of the country’s snapshot, risk factors about the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business.
GDP 2022 | $522 Billion |
Key Landscape | · Political Landscape
· Economic Landscape · Social Landscape · Technological Landscape · Environmental Landscape · Legal Landscape |
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PESTLE Insights of the Israel Macroeconomic Outlook Report
Political Landscape: Although political parties with diverse ideologies have held power in Israel, the continuity of policies has been maintained. According to the World Bank, Worldwide Governance Indicators (2023), Israel’s performance in terms of government effectiveness was ranked in the 85.4 percentile in 2022. The parameter measures the quality of public services; the quality of civil service; the degree of its independence from political pressures; the quality of policy formulation and implementation, and the credibility of the government’s commitment to such policies. On this parameter too, Israel performed better than Egypt and Jordan.
Economic Landscape: In July 2023, Israel and Vietnam signed a free trade agreement, anticipating a nearly 50% increase in annual bilateral trade. The agreement, inked in Israel after seven years of negotiations by the trade ministers of both nations, will boost bilateral trade in the coming months, as projected by Vietnam’s Ministry of Industry and Trade. Furthermore, in March 2023, Israel and the UAE officially implemented a free trade agreement, resulting in a reduction or elimination of tariffs on approximately 96% of traded goods between the two nations, as confirmed by Israel’s Foreign Ministry. Additionally, the agreement enables Israeli companies to participate in government tenders in the UAE, according to the ministry.
Israel PESTLE Landscapes
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Key Highlights
The Tel Aviv 25 Index exhibited a volatile trend over the last year. As of November 07, 2023, the index stood at 1,702.6, compared to 1,915.2 on November 07, 2022.
Reasons to Buy
- Macroeconomic Outlook Report identifies the potential of the country as an investment destination by analyzing the political, economic, social, technological, legal, and environmental (PESTLE) structure.
- PESTLE Insights provides 360-degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials, and direction of operations
- Along with providing the country’s snapshot, the report captures the risk factors about the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure, and natural and geographic aspects that might impact business.
- This report also highlights key clusters/cities which contribute significantly to the country’s GDP and population along with major companies’ presence in these areas.
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Frequently asked questions
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What was Israel's GDP in 2022?
Israel’s GDP was $522 billion in 2022.
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What was Israel’s rank in the GCRI Q3 2023?
Israel was ranked 21st of 153 nations in the GCRI Q3 2023.
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Which are the key landscapes in the Israel PESTLE Insights report?
A few of the key landscapes in Israel’s PESTLE insights report are the political landscape, economic landscape, social landscape, technological landscape, legal landscape, and environmental landscape among others.
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