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Israel
Index
Gross National Product (GNP): Approximately US$33 billion
(US$7,576 per capita) in 1987. Between 1973 and 1983 real GNP
growth rate was approximately 2.0 percent per year. Real GNP
increased 2.4 percent in 1984, increased 3.7 percent in 1985,
increased 3.3 percent in 1986, and increased 5.2 percent in 1987.
Agriculture: Efficient and modern. Irrigation extensive,
but all available water resources currently being used. Main
products included cereals, fruits, vegetables, poultry, and dairy
products. Specialization in high-value produce, partly for export.
Imports of grains and meat. Agriculture's share of GNP 5 percent in
1986.
Industry: Contributed 23 percent of GNP and employed 23
percent of labor force in 1986. Major industries included
electronics, biotechnology, diamond cutting and polishing, energy,
chemicals, rubber, plastics, clothing and textiles, and defense.
Imports: US$9.2 billion in 1986, excluding US$1.1 billion
of direct defense imports. Materials for processsing accounted for
more than 75 percent of nondefense imports. Bulk of imports from
industrialized countries.
Exports: US$6.9 billion in 1986. Metals, machinery, and
electronics represented main exports (US$2.2 billion in 1986).
Diamonds were second largest export (US$1.9 billion). Main markets
in industrial countries.
Balance of Payments: During 1986 Israel had current
account surplus of US$1.4 billion. Situation resulted from Economic
Stabilization Program adopted in July 1985.
Currency and Exchange Rates: New Israeli shekel
introduced September 1985, worth 1,000 of former shekels; 100
agorot (sing.,
agora--see Glossary) = 1 new
Israeli shekel. Average
exchange rate 1988 1.6 NIS per US$.
Data as of December 1988
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