Israel: Statistical Appendix

International Monetary Fund

doi:10.5089/9781451819557.002.A001

Jump to Content

Israel

Statistical Appendix

Author:

International Monetary Fund

International Monetary Fund
Search for other papers by International Monetary Fund in
Current site
Google Scholar

Publication Date:: 24 Jun 2004

eISBN:: 9781451819557

Language:: English

Keywords:: ISCR; CR; Israel; net; U.S. dollar; CPI-indexed bond; gross investment; rate of inflation; durable goods; investment goods

Download PDF (292.4 KB)

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Abstract

Table 1.

Israel: GDP by Expenditure Components in Current Prices, 1997-2003 ^1/

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

Table 1.

Israel: GDP by Expenditure Components in Current Prices, 1997-2003 ^1/

				1997	1998	1999	2000	2001	2002	2003
				(In millions of new sheqalim; current prices)
GDP				356,055	393,104	429,542	468,144	474,043	491,260	498,661
	Domestic demand			392,564	423,006	463,002	491,684	510,346	534,190	532,505
		Consumption		306,206	334,309	364,432	393,723	414,911	444,733	451,740
			Private	203,431	222,531	242,684	263,762	275,957	291,620	299,795
			Public	102,775	111,779	121,748	129,961	138,954	153,113	151,945
	Gross domestic capital formation			86,357	88,697	98,571	97,961	95,434	89,457	80,765
		Fixed capital formation		83,947	85,808	92,169	92,846	89,136	87,234	86,773
		Increase in stocks		2,411	2,889	6,402	5,115	6,298	2,224	-6,008
	Foreign balance			-36,509	-29,902	-33,460	-23,540	-36,303	-42,930	-33,844
		Exports of goods and nonfactor services		109,236	124,466	155,616	189,127	168,107	181,962	185,153
		Imports of goods and nonfactor services		145,745	154,368	189,076	212,667	204,410	224,892	218,997
				(In percent of GDP; current prices)
GDP				100.0	100.0	100.0	100.0	100.0	100.0	100.0
	Domestic demand			110.3	107.6	107.8	105.0	107.7	108.7	106.8
		Consumption		86.0	85.0	84.8	84.1	87.5	90.5	90.6
			Private	57.1	56.6	56.5	56.3	58.2	59.4	60.1
			Public	28.9	28.4	28.3	27.8	29.3	31.2	30.5
	Gross domestic capital formation			24.3	22.6	22.9	20.9	20.1	18.2	16.2
		Fixed capital formation		23.6	21.8	21.5	19.8	18.8	17.8	17.4
		Increase in stocks		0.7	0.7	1.5	1.1	1.3	0.5	-1.2
	Foreign balance			-10.3	-7.6	-7.8	-5.0	-7.7	-8.7	-6.8
		Exports of goods and nonfactor services		30.7	31.7	36.2	40.4	35.5	37.0	37.1
		Imports of goods and nonfactor services		40.9	39.3	44.0	45.4	43.1	45.8	43.9

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

Table 1.

Israel: GDP by Expenditure Components in Current Prices, 1997-2003 ^1/

				1997	1998	1999	2000	2001	2002	2003
				(In millions of new sheqalim; current prices)
GDP				356,055	393,104	429,542	468,144	474,043	491,260	498,661
	Domestic demand			392,564	423,006	463,002	491,684	510,346	534,190	532,505
		Consumption		306,206	334,309	364,432	393,723	414,911	444,733	451,740
			Private	203,431	222,531	242,684	263,762	275,957	291,620	299,795
			Public	102,775	111,779	121,748	129,961	138,954	153,113	151,945
	Gross domestic capital formation			86,357	88,697	98,571	97,961	95,434	89,457	80,765
		Fixed capital formation		83,947	85,808	92,169	92,846	89,136	87,234	86,773
		Increase in stocks		2,411	2,889	6,402	5,115	6,298	2,224	-6,008
	Foreign balance			-36,509	-29,902	-33,460	-23,540	-36,303	-42,930	-33,844
		Exports of goods and nonfactor services		109,236	124,466	155,616	189,127	168,107	181,962	185,153
		Imports of goods and nonfactor services		145,745	154,368	189,076	212,667	204,410	224,892	218,997
				(In percent of GDP; current prices)
GDP				100.0	100.0	100.0	100.0	100.0	100.0	100.0
	Domestic demand			110.3	107.6	107.8	105.0	107.7	108.7	106.8
		Consumption		86.0	85.0	84.8	84.1	87.5	90.5	90.6
			Private	57.1	56.6	56.5	56.3	58.2	59.4	60.1
			Public	28.9	28.4	28.3	27.8	29.3	31.2	30.5
	Gross domestic capital formation			24.3	22.6	22.9	20.9	20.1	18.2	16.2
		Fixed capital formation		23.6	21.8	21.5	19.8	18.8	17.8	17.4
		Increase in stocks		0.7	0.7	1.5	1.1	1.3	0.5	-1.2
	Foreign balance			-10.3	-7.6	-7.8	-5.0	-7.7	-8.7	-6.8
		Exports of goods and nonfactor services		30.7	31.7	36.2	40.4	35.5	37.0	37.1
		Imports of goods and nonfactor services		40.9	39.3	44.0	45.4	43.1	45.8	43.9

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

Table 2.

Israel: GDP by Expenditure Components in Constant Prices, 1997-2003 ^1/ ^2/

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Estimates in 2000 prices derived by chaining each categories growth rate computed at different base year prices, hence totals do not reflect the sum of their components.

^{^2/}Preliminary estimates of the Central Bureau of Statistics.

Table 2.

Israel: GDP by Expenditure Components in Constant Prices, 1997-2003 ^1/ ^2/

				1997	1998	1999	2000	2001	2002	2003
				(In millions of new sheqalim; constant 2000 prices)
GDP				410,708	424,125	435,348	468,144	463,906	460,221	465,256
	Domestic demand			445,281	453,376	473,153	491,684	499,603	496,253	489,872
		Consumption		346,874	359,089	372,462	393,725	406,481	414,586	417,588
			Private	225,819	235,413	245,246	263,762	272,114	272,501	275,628
			Public	121,055	123,675	127,216	129,963	134,367	142,084	141,960
	Gross domestic capital formation			98,762	94,495	100,843	97,959	93,121	81,613	72,284
		Fixed capital formation		94,778	91,177	91,301	92,845	88,398	80,262	78,056
		Increase in stocks		3,984	3,317	9,542	5,114	4,724	1,351	-5,772
	Foreign balance			-34,167	-28,753	-36,972	-23,540	-35,697	-36,049	-25,076
		Exports of goods and nonfactor services		128,044	136,190	152,520	189,127	167,317	162,336	166,394
		Imports of goods and nonfactor services		162,211	164,943	189,492	212,667	203,014	198,385	191,470
				(Annual percentage change)
GDP				3.0	3.3	2.6	7.5	-0.9	-0.8	1.1
	Domestic demand			1.6	1.8	4.4	3.9	1.6	-0.7	-1.3
		Consumption		2.6	3.5	3.7	5.7	3.2	2.0	0.7
			Private	2.9	4.2	4.2	7.6	3.2	0.1	1.1
			Public	1.9	2.2	2.9	2.2	3.4	5.7	-0.1
	Gross domestic capital formation			-1.6	-4.3	6.7	-2.9	-4.9	-12.4	-11.4
		Fixed capital formation		-1.0	-3.8	0.1	1.7	-4.8	-9.2	-2.7
	Exports of goods and nonfactor services			8.6	6.4	12.0	24.0	-11.5	-3.0	2.5
	Imports of goods and nonfactor services			3.3	1.7	14.9	12.2	-4.5	-2.3	-3.5

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Estimates in 2000 prices derived by chaining each categories growth rate computed at different base year prices, hence totals do not reflect the sum of their components.

^{^2/}Preliminary estimates of the Central Bureau of Statistics.

Table 2.

Israel: GDP by Expenditure Components in Constant Prices, 1997-2003 ^1/ ^2/

				1997	1998	1999	2000	2001	2002	2003
				(In millions of new sheqalim; constant 2000 prices)
GDP				410,708	424,125	435,348	468,144	463,906	460,221	465,256
	Domestic demand			445,281	453,376	473,153	491,684	499,603	496,253	489,872
		Consumption		346,874	359,089	372,462	393,725	406,481	414,586	417,588
			Private	225,819	235,413	245,246	263,762	272,114	272,501	275,628
			Public	121,055	123,675	127,216	129,963	134,367	142,084	141,960
	Gross domestic capital formation			98,762	94,495	100,843	97,959	93,121	81,613	72,284
		Fixed capital formation		94,778	91,177	91,301	92,845	88,398	80,262	78,056
		Increase in stocks		3,984	3,317	9,542	5,114	4,724	1,351	-5,772
	Foreign balance			-34,167	-28,753	-36,972	-23,540	-35,697	-36,049	-25,076
		Exports of goods and nonfactor services		128,044	136,190	152,520	189,127	167,317	162,336	166,394
		Imports of goods and nonfactor services		162,211	164,943	189,492	212,667	203,014	198,385	191,470
				(Annual percentage change)
GDP				3.0	3.3	2.6	7.5	-0.9	-0.8	1.1
	Domestic demand			1.6	1.8	4.4	3.9	1.6	-0.7	-1.3
		Consumption		2.6	3.5	3.7	5.7	3.2	2.0	0.7
			Private	2.9	4.2	4.2	7.6	3.2	0.1	1.1
			Public	1.9	2.2	2.9	2.2	3.4	5.7	-0.1
	Gross domestic capital formation			-1.6	-4.3	6.7	-2.9	-4.9	-12.4	-11.4
		Fixed capital formation		-1.0	-3.8	0.1	1.7	-4.8	-9.2	-2.7
	Exports of goods and nonfactor services			8.6	6.4	12.0	24.0	-11.5	-3.0	2.5
	Imports of goods and nonfactor services			3.3	1.7	14.9	12.2	-4.5	-2.3	-3.5

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Estimates in 2000 prices derived by chaining each categories growth rate computed at different base year prices, hence totals do not reflect the sum of their components.

^{^2/}Preliminary estimates of the Central Bureau of Statistics.

Table 3.

Israel: Investment, 1997-2003 ^1/

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

Table 3.

Israel: Investment, 1997-2003 ^1/

				In millions of new sheqalim	Percentage change at constant prices
				2003	1997	1998	1999	2000	2001	2002	2003
Gross domestic capital formation				80,765	-1.6	-4.3	6.7	-2.9	-4.9	-12.4	-11.4
Gross fixed capital formation				86,773	-1.0	-3.8	0.1	1.7	-4.8	-9.2	-2.7
	Machinery, transport, and other equipment			37,794	-5.2	-1.8	18.0	8.8	-4.4	-15.0	-2.8
		Land transport equipment		89,575	-13.4	-11.1	4.4	32.4	-9.2	-18.7	-12.3
		Other machinery and equipment		30,558	-3.3	3.3	11.4	10.5	-8.8	-9.6	3.4
		Ships and aircraft		108	8.5	-75.3	1200.5	-66.4	181.9	-61.2	-91.3
	Construction			43,541	1.9	-6.1	-10.7	-5.8	-6.6	-4.6	-2.9
		Residential		21,383	1.0	-8.8	-7.5	-9.7	-10.5	-8.2	-1.2
			Private	18,613	3.3	-7.7	-3.6	-8.7	-11.7	-9.4	1.2
			Public	2,770	-8.1	-13.7	-26.4	-16.2	-1.9	-1.3	-14.9
		Nonresidential		22,158	3.0	-2.9	-14.3	-1.0	-2.2	-0.8	-4.5

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

Table 3.

Israel: Investment, 1997-2003 ^1/

				In millions of new sheqalim	Percentage change at constant prices
				2003	1997	1998	1999	2000	2001	2002	2003
Gross domestic capital formation				80,765	-1.6	-4.3	6.7	-2.9	-4.9	-12.4	-11.4
Gross fixed capital formation				86,773	-1.0	-3.8	0.1	1.7	-4.8	-9.2	-2.7
	Machinery, transport, and other equipment			37,794	-5.2	-1.8	18.0	8.8	-4.4	-15.0	-2.8
		Land transport equipment		89,575	-13.4	-11.1	4.4	32.4	-9.2	-18.7	-12.3
		Other machinery and equipment		30,558	-3.3	3.3	11.4	10.5	-8.8	-9.6	3.4
		Ships and aircraft		108	8.5	-75.3	1200.5	-66.4	181.9	-61.2	-91.3
	Construction			43,541	1.9	-6.1	-10.7	-5.8	-6.6	-4.6	-2.9
		Residential		21,383	1.0	-8.8	-7.5	-9.7	-10.5	-8.2	-1.2
			Private	18,613	3.3	-7.7	-3.6	-8.7	-11.7	-9.4	1.2
			Public	2,770	-8.1	-13.7	-26.4	-16.2	-1.9	-1.3	-14.9
		Nonresidential		22,158	3.0	-2.9	-14.3	-1.0	-2.2	-0.8	-4.5

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

Table 4.

Israel: Consumption, 1997-2003 1/

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

Table 4.

Israel: Consumption, 1997-2003 1/

				In millions of new sheqalim	Percentage change at constant prices
				2003	1997	1998	1999	2000	2001	2002	2003
Private consumption				299,795	2.9	4.2	4.2	7.6	3.2	0.1	1.1
	Household consumption in the domestic market			292,673	2.4	3.5	5.0	6.1	0.6	0.0	0.9
		Food, beverages, and tobacco		63,479	2.3	-0.1	1.0	1.3	2.5	1.7	1.3
		Fuel and electricity		16,162	2.5	3.2	0.8	4.7	2.2	2.3	3.4
		Clothing, footwear, and personal effects		12,602	-1.6	-3.5	7.9	10.9	-5.2	0.6	1.8
		Other goods		20,108	-0.2	6.5	8.7	3.2	-1.7	-2.5	5.8
		Durable goods		23,522	-0.6	1.6	11.3	17.4	-7.6	-8.6	-3.0
			Passenger cars	8,082	-9.4	-3.4	1.8	32.9	-10.5	-16.2	-6.0
			Other durable goods	15,440	5.1	4.4	16.1	10.5	-6.0	-4.7	-1.6
		Housing		67,225	2.6	4.6	3.1	5.4	2.8	2.7	2.2
		Other services		89,575	4.8	7.0	6.7	6.5	1.9	-0.1	-0.8
		Plus: Consumption by Israelis abroad		9,765	8.4	10.4	8.6	12.4	2.3	-7.7	-3.5
		Less: Consumption by nonresidents		9,184	-2.9	-6.3	24.1	-10.3	-36.3	-6.0	-8.8
	Consumption by nonprofit institutions			6,542	5.7	1.7	9.4	4.6	4.3	5.4	2.3
Public consumption (excluding net defense imports)				140,601	1.7	1.6	2.4	3.2	2.4	5.0	0.2
	Civilian			103,495	2.3	2.1	3.1	2.2	3.6	3.3	0.3
		Compensation of employees: wages		65,176	2.2	0.9	3.2	0.5	2.0	2.6	-0.3
		Indirect taxes on salaries		4,884	2.5	0.9	3.5	0.4	2.0	2.8	-0.4
		Other current purchase		29,603	1.6	4.1	2.1	5.6	7.2	4.3	0.3
	Domestic defense			37,106	-0.2	0.4	0.6	6.0	-0.9	10.0	0.0
		Compensation of employees		19,738	-0.2	-0.2	-0.1	-0.3	3.9	5.7	-2.9
		Indirect taxes on salaries		1,141	0.0	-0.1	0.2	-0.2	2.4	3.0	3.2
		Other current purchase		17,368	-0.3	1.2	1.7	15.1	-6.9	16.0	3.6
Memorandum items:
	Net defense imports			11,344	6.6	10.2	9.1	-11.2	18.1	16.4	-3.6
		Defense imports		13,009	5.6	8.1	9.4	-2.6	14.7	13.2	-2.0
		Less: Sales		1,665	-0.8	-7.9	17.7	81.2	-2.9	-8.6	9.9
	Public consumption including net defense imports			151,945	1.9	2.2	2.9	2.2	3.4	5.7	-0.1

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

Table 4.

Israel: Consumption, 1997-2003 1/

				In millions of new sheqalim	Percentage change at constant prices
				2003	1997	1998	1999	2000	2001	2002	2003
Private consumption				299,795	2.9	4.2	4.2	7.6	3.2	0.1	1.1
	Household consumption in the domestic market			292,673	2.4	3.5	5.0	6.1	0.6	0.0	0.9
		Food, beverages, and tobacco		63,479	2.3	-0.1	1.0	1.3	2.5	1.7	1.3
		Fuel and electricity		16,162	2.5	3.2	0.8	4.7	2.2	2.3	3.4
		Clothing, footwear, and personal effects		12,602	-1.6	-3.5	7.9	10.9	-5.2	0.6	1.8
		Other goods		20,108	-0.2	6.5	8.7	3.2	-1.7	-2.5	5.8
		Durable goods		23,522	-0.6	1.6	11.3	17.4	-7.6	-8.6	-3.0
			Passenger cars	8,082	-9.4	-3.4	1.8	32.9	-10.5	-16.2	-6.0
			Other durable goods	15,440	5.1	4.4	16.1	10.5	-6.0	-4.7	-1.6
		Housing		67,225	2.6	4.6	3.1	5.4	2.8	2.7	2.2
		Other services		89,575	4.8	7.0	6.7	6.5	1.9	-0.1	-0.8
		Plus: Consumption by Israelis abroad		9,765	8.4	10.4	8.6	12.4	2.3	-7.7	-3.5
		Less: Consumption by nonresidents		9,184	-2.9	-6.3	24.1	-10.3	-36.3	-6.0	-8.8
	Consumption by nonprofit institutions			6,542	5.7	1.7	9.4	4.6	4.3	5.4	2.3
Public consumption (excluding net defense imports)				140,601	1.7	1.6	2.4	3.2	2.4	5.0	0.2
	Civilian			103,495	2.3	2.1	3.1	2.2	3.6	3.3	0.3
		Compensation of employees: wages		65,176	2.2	0.9	3.2	0.5	2.0	2.6	-0.3
		Indirect taxes on salaries		4,884	2.5	0.9	3.5	0.4	2.0	2.8	-0.4
		Other current purchase		29,603	1.6	4.1	2.1	5.6	7.2	4.3	0.3
	Domestic defense			37,106	-0.2	0.4	0.6	6.0	-0.9	10.0	0.0
		Compensation of employees		19,738	-0.2	-0.2	-0.1	-0.3	3.9	5.7	-2.9
		Indirect taxes on salaries		1,141	0.0	-0.1	0.2	-0.2	2.4	3.0	3.2
		Other current purchase		17,368	-0.3	1.2	1.7	15.1	-6.9	16.0	3.6
Memorandum items:
	Net defense imports			11,344	6.6	10.2	9.1	-11.2	18.1	16.4	-3.6
		Defense imports		13,009	5.6	8.1	9.4	-2.6	14.7	13.2	-2.0
		Less: Sales		1,665	-0.8	-7.9	17.7	81.2	-2.9	-8.6	9.9
	Public consumption including net defense imports			151,945	1.9	2.2	2.9	2.2	3.4	5.7	-0.1

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

Table 5.

Israel: Gross Private Income and Savings, 1997-2003 ^1/

Sources: Central Bureau of Statistics, Current Briefings in Statistics; and data provided by the Bank of Israel.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

^{^2/}Including contribution to National Insurance Institute.

Table 5.

Israel: Gross Private Income and Savings, 1997-2003 ^1/

			1997	1998	1999	2000	2001	2002	2003
			(In millions of new sheqalim; at current prices)
GNP at market prices			347,481	380,799	414,130	442,929	457,584	477,993	488,542
	Plus:
		Subsidies on domestic production	2,845	2,854	2,989	3,214	3,337	2,953	3,296
		Subsidies on government loans	189	138	66	47	44	25	24
	Less:
		Indirect taxes on domestic production	49,340	53,466	58,579	59,889	62,157	67,908	68,161
	Equals:
		GNP at factor cost	301,175	330,325	358,606	386,301	398,808	413,063	423,701
	Plus:
		Net private transfers from abroad	7,897	8,847	9,483	9,493	9,811	11,097	11,308
		Net transfers to domestic households and private nonprofit institutions	54,760	61,736	66,082	73,106	79,223	79,708	83,941
	Less:
		Public sector income from property and entrepreneurship	2,652	4,538	475	276	2,705	8,054	4,528
		Public sector consumption of fixed capital	4,952	5,589	6,314	6,711	7,129	7,996	8,716
	Equals:
		Private income	356,228	390,781	427,383	461,913	478,008	487,818	505,706
	Less:
		Direct taxes ^2/	71,744	78,173	85,154	102,455	105,105	101,996	99,298
	Equals:
		Gross private disposable income	284,484	312,608	342,229	359,458	372,903	385,822	406,408
	Less:
		Private consumption	203,431	222,531	242,684	263,762	275,957	291,620	299,795
	Equals:
		Private saving	81,053	90,078	99,545	95,696	96,946	94,202	106,613
			(percent of gross private disposable income)
Private consumption			71.5	71.2	70.9	73.4	74.0	75.6	73.8
Private savings			28.5	28.8	29.1	26.6	26.0	24.4	26.2

Sources: Central Bureau of Statistics, Current Briefings in Statistics; and data provided by the Bank of Israel.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

^{^2/}Including contribution to National Insurance Institute.

Table 5.

Israel: Gross Private Income and Savings, 1997-2003 ^1/

			1997	1998	1999	2000	2001	2002	2003
			(In millions of new sheqalim; at current prices)
GNP at market prices			347,481	380,799	414,130	442,929	457,584	477,993	488,542
	Plus:
		Subsidies on domestic production	2,845	2,854	2,989	3,214	3,337	2,953	3,296
		Subsidies on government loans	189	138	66	47	44	25	24
	Less:
		Indirect taxes on domestic production	49,340	53,466	58,579	59,889	62,157	67,908	68,161
	Equals:
		GNP at factor cost	301,175	330,325	358,606	386,301	398,808	413,063	423,701
	Plus:
		Net private transfers from abroad	7,897	8,847	9,483	9,493	9,811	11,097	11,308
		Net transfers to domestic households and private nonprofit institutions	54,760	61,736	66,082	73,106	79,223	79,708	83,941
	Less:
		Public sector income from property and entrepreneurship	2,652	4,538	475	276	2,705	8,054	4,528
		Public sector consumption of fixed capital	4,952	5,589	6,314	6,711	7,129	7,996	8,716
	Equals:
		Private income	356,228	390,781	427,383	461,913	478,008	487,818	505,706
	Less:
		Direct taxes ^2/	71,744	78,173	85,154	102,455	105,105	101,996	99,298
	Equals:
		Gross private disposable income	284,484	312,608	342,229	359,458	372,903	385,822	406,408
	Less:
		Private consumption	203,431	222,531	242,684	263,762	275,957	291,620	299,795
	Equals:
		Private saving	81,053	90,078	99,545	95,696	96,946	94,202	106,613
			(percent of gross private disposable income)
Private consumption			71.5	71.2	70.9	73.4	74.0	75.6	73.8
Private savings			28.5	28.8	29.1	26.6	26.0	24.4	26.2

Sources: Central Bureau of Statistics, Current Briefings in Statistics; and data provided by the Bank of Israel.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

^{^2/}Including contribution to National Insurance Institute.

Table 6.

Israel: National Savings, Foreign Savings, and Investment, 1997-2003 ^1/

Source: Data provided by the Bank of Israel.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

^{^2/}Total income defined as GNP plus unilateral transfers from abroad.

Table 6.

Israel: National Savings, Foreign Savings, and Investment, 1997-2003 ^1/

			1997	1998	1999	2000	2001	2002	2003
			(percent of total income) ^2/
Gross national savings			20.0	20.4	20.3	19.5	17.6	15.8	16.0
	General government		-1.2	-1.1	-1.5	-0.1	-1.8	-2.1	-3.9
	Private sector		21.3	21.5	21.8	19.6	19.3	17.9	19.9
Foreign savings			2.6	0.8	1.3	0.6	1.5	1.2	-1.0
	Current account		-2.6	-0.8	-1.3	-0.6	-1.5	-1.2	1.0
		Civilian trade balance	-5.7	-4.1	-4.4	-3.7	-4.4	-4.2	-2.1
		Unilateral transfers	3.7	3.8	3.6	3.5	3.5	3.1	3.4
	Transfers on capital account		-0.7	-0.5	-0.5	-0.4	-0.6	-0.1	-0.3
Gross investment			22.6	21.2	21.6	20.1	19.0	17.0	15.0
	Inventories		0.6	0.7	1.4	1.0	1.3	0.4	-1.2
	Fixed residential		7.3	6.3	5.7	4.9	4.3	3.9	4.0
	Fixed nonresidential		14.7	14.2	14.6	14.2	13.5	12.7	12.2
			(percent of GDP)
Gross national savings			21.4	21.7	21.6	20.3	18.6	16.9	17.3
	General government		-1.3	-1.2	-1.6	-0.1	-1.9	-2.3	-4.2
	Private sector		22.8	22.9	23.1	20.4	20.5	19.2	21.5
Foreign savings			2.8	0.8	1.4	0.6	1.5	1.3	-1.1
	Current account		-2.8	-0.8	-1.4	-0.6	-1.5	-1.3	1.1
		Civilian trade balance	-6.1	-4.3	-4.7	-3.9	-4.7	-4.5	-2.2
		Unilateral transfers	4.0	4.1	3.8	3.7	3.7	3.3	3.7
	Transfers on capital account		-0.7	-0.6	-0.5	-0.4	-0.6	-0.1	-0.4
Gross investment			24.3	22.6	22.9	20.9	20.1	18.2	16.2
	Inventories		0.7	0.7	1.5	1.1	1.3	0.5	-1.3
	Fixed residential		7.8	6.7	6.0	5.1	4.5	4.2	4.3
	Fixed nonresidential		15.8	15.1	15.5	14.8	14.3	13.5	13.2

Source: Data provided by the Bank of Israel.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

^{^2/}Total income defined as GNP plus unilateral transfers from abroad.

Table 6.

Israel: National Savings, Foreign Savings, and Investment, 1997-2003 ^1/

			1997	1998	1999	2000	2001	2002	2003
			(percent of total income) ^2/
Gross national savings			20.0	20.4	20.3	19.5	17.6	15.8	16.0
	General government		-1.2	-1.1	-1.5	-0.1	-1.8	-2.1	-3.9
	Private sector		21.3	21.5	21.8	19.6	19.3	17.9	19.9
Foreign savings			2.6	0.8	1.3	0.6	1.5	1.2	-1.0
	Current account		-2.6	-0.8	-1.3	-0.6	-1.5	-1.2	1.0
		Civilian trade balance	-5.7	-4.1	-4.4	-3.7	-4.4	-4.2	-2.1
		Unilateral transfers	3.7	3.8	3.6	3.5	3.5	3.1	3.4
	Transfers on capital account		-0.7	-0.5	-0.5	-0.4	-0.6	-0.1	-0.3
Gross investment			22.6	21.2	21.6	20.1	19.0	17.0	15.0
	Inventories		0.6	0.7	1.4	1.0	1.3	0.4	-1.2
	Fixed residential		7.3	6.3	5.7	4.9	4.3	3.9	4.0
	Fixed nonresidential		14.7	14.2	14.6	14.2	13.5	12.7	12.2
			(percent of GDP)
Gross national savings			21.4	21.7	21.6	20.3	18.6	16.9	17.3
	General government		-1.3	-1.2	-1.6	-0.1	-1.9	-2.3	-4.2
	Private sector		22.8	22.9	23.1	20.4	20.5	19.2	21.5
Foreign savings			2.8	0.8	1.4	0.6	1.5	1.3	-1.1
	Current account		-2.8	-0.8	-1.4	-0.6	-1.5	-1.3	1.1
		Civilian trade balance	-6.1	-4.3	-4.7	-3.9	-4.7	-4.5	-2.2
		Unilateral transfers	4.0	4.1	3.8	3.7	3.7	3.3	3.7
	Transfers on capital account		-0.7	-0.6	-0.5	-0.4	-0.6	-0.1	-0.4
Gross investment			24.3	22.6	22.9	20.9	20.1	18.2	16.2
	Inventories		0.7	0.7	1.5	1.1	1.3	0.5	-1.3
	Fixed residential		7.8	6.7	6.0	5.1	4.5	4.2	4.3
	Fixed nonresidential		15.8	15.1	15.5	14.8	14.3	13.5	13.2

Source: Data provided by the Bank of Israel.

^{^1/}Preliminary estimates of the Central Bureau of Statistics.

^{^2/}Total income defined as GNP plus unilateral transfers from abroad.

Table 7.

Israel: Composition and Growth of the Industrial Production, 1997-2003 ^2/

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Includes sectors not listed below.

^{^2/}Preliminary estimates of the Central Bureau of Statistics.

Table 7.

Israel: Composition and Growth of the Industrial Production, 1997-2003 ^2/

	Weight
	2002	1998	1999	2000	2001	2002	2003
	(Percentage change at constant prices)
Total industrial production ^1/	100.0	2.9	1.4	10.0	-5.0	-1.9	-1.3
Food, beverages, and tobacco	11.4	0.8	1.4	0.1	-1.1	-1.4	-2.9
Textiles, clothing and leather	4.4	-0.1	1.5	-3.1	-4.4	-4.7	-8.5
Wood, furniture, paper and printing	9.3	-1.4	-1.8	1.3	-7.0	-2.1	-3.4
Chemicals, rubber, and plastics	19.1	9.3	-0.7	3.4	4.9	13.2	4.9
Nonmetallic minerals	2.4	-12.3	-8.2	-8.3	-7.0	-5.6	-7.9
Basic metals and metal products	11.9	-1.8	-2.9	7.7	-4.8	-2.6	-4.0
Machinery and equipment (incl. Electric)	5.5	3.8	2.2	8.6	-8.7	-5.5	-3.3
Transport equipment	6.1	6.6	3.1	4.9	1.4	1.4	3.6
Electronic equipment	8.1	11.8	8.8	16.0	-16.8	-14.6	-8.4
Jewelry and miscellaneous articles	1.5	-4.0	-9.8	1.2	0.4	-1.6	-4.1

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Includes sectors not listed below.

^{^2/}Preliminary estimates of the Central Bureau of Statistics.

Table 7.

Israel: Composition and Growth of the Industrial Production, 1997-2003 ^2/

	Weight
	2002	1998	1999	2000	2001	2002	2003
	(Percentage change at constant prices)
Total industrial production ^1/	100.0	2.9	1.4	10.0	-5.0	-1.9	-1.3
Food, beverages, and tobacco	11.4	0.8	1.4	0.1	-1.1	-1.4	-2.9
Textiles, clothing and leather	4.4	-0.1	1.5	-3.1	-4.4	-4.7	-8.5
Wood, furniture, paper and printing	9.3	-1.4	-1.8	1.3	-7.0	-2.1	-3.4
Chemicals, rubber, and plastics	19.1	9.3	-0.7	3.4	4.9	13.2	4.9
Nonmetallic minerals	2.4	-12.3	-8.2	-8.3	-7.0	-5.6	-7.9
Basic metals and metal products	11.9	-1.8	-2.9	7.7	-4.8	-2.6	-4.0
Machinery and equipment (incl. Electric)	5.5	3.8	2.2	8.6	-8.7	-5.5	-3.3
Transport equipment	6.1	6.6	3.1	4.9	1.4	1.4	3.6
Electronic equipment	8.1	11.8	8.8	16.0	-16.8	-14.6	-8.4
Jewelry and miscellaneous articles	1.5	-4.0	-9.8	1.2	0.4	-1.6	-4.1

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Includes sectors not listed below.

^{^2/}Preliminary estimates of the Central Bureau of Statistics.

Table 8.

Israel: Labor Market Indicators, l997-2003

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Aged 15 and above.

^{^2/}Includes unreported foreign workers.

^{^3/}Estimated.

Table 8.

Israel: Labor Market Indicators, l997-2003

			In thousands						Percentage change
			1998	1999	2000	2001	2002	2003 ^3/	1997	1998	1999	2000	2001	2002	2003 ^3/
Israeli working-age population ^1/			4243	4359	4487	4605	4706	4793	2.7	2.7	2.7	2.9	2.6	2.2	1.9
Israeli civilian labor force			2262	2341	2431	2499	2547	2601	2.5	2.6	3.5	3.8	2.8	1.9	2.1
	Total Israelis employed		2067	2131	2216	2265	2284	2323	1.4	1.6	3.1	4.0	2.2	0.9	1.7
		Public services	627	645	662	691	713	722	3.0	5.2	2.9	2.6	4.4	3.2	1.3
		Business sector	1441	1487	1554	1574	1572	1600	0.7	0.0	3.2	4.6	1.3	-0.1	1.8
	Workers from administered areas		107	115	98	49	32	35	28.5	42.5	8.1	-14.9	-49.7	-36.0	11.1
	Foreign workers ^2/		174	185	213	247	247	217	15.8	9.2	6.3	15.1	16.2	-0.1	-12.1
Total employed			2348	2431	2526	2561	2563	2575	3.0	3.4	3.6	3.9	1.4	0.1	0.5
Memorandum items:			(In percent)
	Participation rate (in percent of working-age population)		53.3	53.7	54.2	54.3	54.1	54.3
	Unemployment rate (in percent of civilian labor force)		8.6	9.0	8.8	9.3	10.3	10.7

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Aged 15 and above.

^{^2/}Includes unreported foreign workers.

^{^3/}Estimated.

Table 8.

Israel: Labor Market Indicators, l997-2003

			In thousands						Percentage change
			1998	1999	2000	2001	2002	2003 ^3/	1997	1998	1999	2000	2001	2002	2003 ^3/
Israeli working-age population ^1/			4243	4359	4487	4605	4706	4793	2.7	2.7	2.7	2.9	2.6	2.2	1.9
Israeli civilian labor force			2262	2341	2431	2499	2547	2601	2.5	2.6	3.5	3.8	2.8	1.9	2.1
	Total Israelis employed		2067	2131	2216	2265	2284	2323	1.4	1.6	3.1	4.0	2.2	0.9	1.7
		Public services	627	645	662	691	713	722	3.0	5.2	2.9	2.6	4.4	3.2	1.3
		Business sector	1441	1487	1554	1574	1572	1600	0.7	0.0	3.2	4.6	1.3	-0.1	1.8
	Workers from administered areas		107	115	98	49	32	35	28.5	42.5	8.1	-14.9	-49.7	-36.0	11.1
	Foreign workers ^2/		174	185	213	247	247	217	15.8	9.2	6.3	15.1	16.2	-0.1	-12.1
Total employed			2348	2431	2526	2561	2563	2575	3.0	3.4	3.6	3.9	1.4	0.1	0.5
Memorandum items:			(In percent)
	Participation rate (in percent of working-age population)		53.3	53.7	54.2	54.3	54.1	54.3
	Unemployment rate (in percent of civilian labor force)		8.6	9.0	8.8	9.3	10.3	10.7

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Aged 15 and above.

^{^2/}Includes unreported foreign workers.

^{^3/}Estimated.

Table 9.

Israel: Employment and Labor Input of Israelis by Industry, 1997-2003 ^1/

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Employment figures are annual averages; labor input figures are weekly averages.

^{^2/}Nine-month figure.

^{^3/}Data do not sum to total due to an “unknown” category.

Table 9.

Israel: Employment and Labor Input of Israelis by Industry, 1997-2003 ^1/

		2003 ^2/	1997	1998	1999	2000	2001	2002	2003 ^2/
		In thousands	Annual percentage change
Employed persons
Total ^3/		2319.4	1.4	1.6	3.1	4.0	2.2	0.9	2.0
	Agriculture	41.9	-4.2	-1.2	4.4	-3.3	-10.2	-0.4	-4.0
	Industry	381.8	-1.7	-2.3	1.0	1.7	-0.6	-3.8	2.4
	Public utilities	18.4	2.3	7.8	-4.1	0.5	1.1	0.0	-11.0
	Construction	129.5	-2.5	-10.5	-8.6	-3.2	0.3	1.4	8.4
	Commerce	305.5	3.0	2.8	3.3	5.0	1.4	4.2	-0.4
	Hotels and restaurants	91.8	-0.4	7.4	11.9	12.7	-5.0	-3.1	-0.2
	Transport, storage, and communication	149.9	0.1	-0.5	10.7	7.0	3.0	-2.0	2.4
	Banking, insurance, and finance	77.5	8.9	-0.5	1.2	-0.8	2.2	1.3	2.8
	Business services	293.8	5.6	5.8	3.7	15.1	7.2	-0.9	7.5
	Community, social, and personal services	114.2	1.2	-0.3	0.4	7.3	1.5	2.9	2.7
	Civil service	129.9	5.3	-0.9	3.4	3.0	5.6	4.0	-4.0
	Education	289.2	1.3	6.0	2.2	1.7	4.1	2.9	0.7
	Health and welfare	242.6	2.7	9.8	4.5	0.8	5.4	3.8	4.8
	Private household services	36.2	-4.1	-1.3	23.9	-13.6	9.7	0.0	1.0
Labor input		In millions of man-hours
Total ^3/		86.0	1.4	-0.1	3.9	5.1	-0.2	1.7	2.2
	Agriculture	1.8	-3.7	-2.6	9.8	-4.6	-8.2	-3.4	0.5
	Industry	16.0	-1.2	-2.8	0.5	3.9	-3.1	-2.2	2.8
	Public utilities	0.8	0.1	6.2	0.1	-0.9	-3.3	2.7	-8.6
	Construction	5.5	-3.0	-13.0	-7.7	-0.9	-2.4	4.5	7.8
	Commerce	12.4	2.0	1.6	4.1	5.0	-0.3	5.5	-0.5
	Hotels and restaurants	3.5	-1.7	5.2	12.2	13.9	-6.2	-4.9	1.0
	Transport, storage, and communication	6.1	-1.8	-1.0	12.4	9.6	0.1	-2.7	1.5
	Banking, insurance, and finance	3.0	9.2	-0.8	2.6	-1.6	1.4	4.8	3.3
	Business services	11.4	6.2	3.4	5.3	18.7	4.2	-0.7	8.7
	Community, social, and personal services	3.7	2.5	-1.5	1.0	3.4	5.4	4.1	-0.2
	Civil service	5.1	3.7	-1.1	5.8	2.0	4.6	5.9	-3.9
	Education	7.2	4.1	2.4	5.0	-0.6	2.1	5.3	0.2
	Health and welfare	7.7	3.3	9.1	3.3	1.7	2.2	4.1	4.2
	Private household services	1.1	0.1	7.5	29.3	-4.2	7.6	10.5	6.8

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Employment figures are annual averages; labor input figures are weekly averages.

^{^2/}Nine-month figure.

^{^3/}Data do not sum to total due to an “unknown” category.

Table 9.

Israel: Employment and Labor Input of Israelis by Industry, 1997-2003 ^1/

		2003 ^2/	1997	1998	1999	2000	2001	2002	2003 ^2/
		In thousands	Annual percentage change
Employed persons
Total ^3/		2319.4	1.4	1.6	3.1	4.0	2.2	0.9	2.0
	Agriculture	41.9	-4.2	-1.2	4.4	-3.3	-10.2	-0.4	-4.0
	Industry	381.8	-1.7	-2.3	1.0	1.7	-0.6	-3.8	2.4
	Public utilities	18.4	2.3	7.8	-4.1	0.5	1.1	0.0	-11.0
	Construction	129.5	-2.5	-10.5	-8.6	-3.2	0.3	1.4	8.4
	Commerce	305.5	3.0	2.8	3.3	5.0	1.4	4.2	-0.4
	Hotels and restaurants	91.8	-0.4	7.4	11.9	12.7	-5.0	-3.1	-0.2
	Transport, storage, and communication	149.9	0.1	-0.5	10.7	7.0	3.0	-2.0	2.4
	Banking, insurance, and finance	77.5	8.9	-0.5	1.2	-0.8	2.2	1.3	2.8
	Business services	293.8	5.6	5.8	3.7	15.1	7.2	-0.9	7.5
	Community, social, and personal services	114.2	1.2	-0.3	0.4	7.3	1.5	2.9	2.7
	Civil service	129.9	5.3	-0.9	3.4	3.0	5.6	4.0	-4.0
	Education	289.2	1.3	6.0	2.2	1.7	4.1	2.9	0.7
	Health and welfare	242.6	2.7	9.8	4.5	0.8	5.4	3.8	4.8
	Private household services	36.2	-4.1	-1.3	23.9	-13.6	9.7	0.0	1.0
Labor input		In millions of man-hours
Total ^3/		86.0	1.4	-0.1	3.9	5.1	-0.2	1.7	2.2
	Agriculture	1.8	-3.7	-2.6	9.8	-4.6	-8.2	-3.4	0.5
	Industry	16.0	-1.2	-2.8	0.5	3.9	-3.1	-2.2	2.8
	Public utilities	0.8	0.1	6.2	0.1	-0.9	-3.3	2.7	-8.6
	Construction	5.5	-3.0	-13.0	-7.7	-0.9	-2.4	4.5	7.8
	Commerce	12.4	2.0	1.6	4.1	5.0	-0.3	5.5	-0.5
	Hotels and restaurants	3.5	-1.7	5.2	12.2	13.9	-6.2	-4.9	1.0
	Transport, storage, and communication	6.1	-1.8	-1.0	12.4	9.6	0.1	-2.7	1.5
	Banking, insurance, and finance	3.0	9.2	-0.8	2.6	-1.6	1.4	4.8	3.3
	Business services	11.4	6.2	3.4	5.3	18.7	4.2	-0.7	8.7
	Community, social, and personal services	3.7	2.5	-1.5	1.0	3.4	5.4	4.1	-0.2
	Civil service	5.1	3.7	-1.1	5.8	2.0	4.6	5.9	-3.9
	Education	7.2	4.1	2.4	5.0	-0.6	2.1	5.3	0.2
	Health and welfare	7.7	3.3	9.1	3.3	1.7	2.2	4.1	4.2
	Private household services	1.1	0.1	7.5	29.3	-4.2	7.6	10.5	6.8

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

^{^1/}Employment figures are annual averages; labor input figures are weekly averages.

^{^2/}Nine-month figure.

^{^3/}Data do not sum to total due to an “unknown” category.

Table 10.

Israel: Real Wages, Labor Costs, and Productivity, 1997-2003

Source: Data provided by the Bank of Israel.

^{^1/}Wages are deflated by the consumer price index. Data for 2003 based on eight-month figures.

^{^2/}Business sector net domestic product per man-hour estimated from the expenditure side.

^{^3/}Ratio of labor cost per man-hour to labor productivity.

Table 10.

Israel: Real Wages, Labor Costs, and Productivity, 1997-2003

			1997	1998	1999	2000	2001	2002	2003
			(Annual percentage change)
Real wages per employee post ^1/
	Total economy		2.4	2.2	2.5	6.2	3.0	-6.0	-4.9
	Business sector		3.5	3.0	3.6	6.6	3.3	-6.7	-4.4
	Public sector		0.0	0.4	0.0	5.4	2.6	-4.3	-5.8
Labor costs and productivity in the business sector
	Labor productivity ^2/
		At current prices	8.6	8.5	5.2	7.0	-1.9	-2.8	…
		At fixed prices	-0.8	1.0	-1.4	4.6	-2.2	-3.8	…
	Unit labor costs ^3/		1.0	-0.6	1.9	-1.2	6.9	1.9	…

Source: Data provided by the Bank of Israel.

^{^1/}Wages are deflated by the consumer price index. Data for 2003 based on eight-month figures.

^{^2/}Business sector net domestic product per man-hour estimated from the expenditure side.

^{^3/}Ratio of labor cost per man-hour to labor productivity.

Table 10.

Israel: Real Wages, Labor Costs, and Productivity, 1997-2003

			1997	1998	1999	2000	2001	2002	2003
			(Annual percentage change)
Real wages per employee post ^1/
	Total economy		2.4	2.2	2.5	6.2	3.0	-6.0	-4.9
	Business sector		3.5	3.0	3.6	6.6	3.3	-6.7	-4.4
	Public sector		0.0	0.4	0.0	5.4	2.6	-4.3	-5.8
Labor costs and productivity in the business sector
	Labor productivity ^2/
		At current prices	8.6	8.5	5.2	7.0	-1.9	-2.8	…
		At fixed prices	-0.8	1.0	-1.4	4.6	-2.2	-3.8	…
	Unit labor costs ^3/		1.0	-0.6	1.9	-1.2	6.9	1.9	…

Source: Data provided by the Bank of Israel.

^{^1/}Wages are deflated by the consumer price index. Data for 2003 based on eight-month figures.

^{^2/}Business sector net domestic product per man-hour estimated from the expenditure side.

^{^3/}Ratio of labor cost per man-hour to labor productivity.

Table 11.

Israel: Real Wage Indices, 1997-2003 ^1/

Source: Data provided by the Bank of Israel.

^{^1/}Average monthly wage per employee post at constant prices, based on employers’ contributions to the National Insurance Institute, deflated by the consumer price index. Data from 1994 are based on a new sample and a new definition of “public services”; data from earlier years were connected via linking indices.

^{^2/}Eight-month figure.

Table 11.

Israel: Real Wage Indices, 1997-2003 ^1/

		Public Services	Business Sector	Total
		(2001=l00)
1997		92.1	85.1	87.2
1998		92.4	87.7	89.1
1999		92.5	90.8	91.4
2000		97.5	96.8	97.1
2001		100.0	100.0	100.0
2002		95.7	93.3	94.0
2003 ^2/		91.6	90.6	90.8
1998
	I	90.2	88.2	88.6
	II	95.6	88.0	90.0
	III	96.8	88.4	90.7
	IV	87.2	86.0	86.2
1999
	I	87.9	89.1	88.5
	II	95.4	90.1	91.5
	III	93.5	90.7	91.4
	IV	93.1	93.4	93.1
2000
	I	93.8	95.7	94.8
	II	98.8	95.4	96.2
	III	102.8	96.6	98.2
	IV	94.5	99.7	97.9
2001
	I	96.4	101.8	99.8
	II	106.0	100.5	101.9
	III	102.3	98.8	99.6
	IV	95.3	99.0	97.5
2002
	I	97.5	96.6	96.5
	II	98.0	95.1	95.7
	III	96.3	91.0	92.3
	IV	90.8	90.6	90.4
2003
	I	91.1	90.5	90.3
	II	89.4	89.8	89.3
	July-August	95.8	91.9	93.1

Source: Data provided by the Bank of Israel.

^{^2/}Eight-month figure.

Table 11.

Israel: Real Wage Indices, 1997-2003 ^1/

		Public Services	Business Sector	Total
		(2001=l00)
1997		92.1	85.1	87.2
1998		92.4	87.7	89.1
1999		92.5	90.8	91.4
2000		97.5	96.8	97.1
2001		100.0	100.0	100.0
2002		95.7	93.3	94.0
2003 ^2/		91.6	90.6	90.8
1998
	I	90.2	88.2	88.6
	II	95.6	88.0	90.0
	III	96.8	88.4	90.7
	IV	87.2	86.0	86.2
1999
	I	87.9	89.1	88.5
	II	95.4	90.1	91.5
	III	93.5	90.7	91.4
	IV	93.1	93.4	93.1
2000
	I	93.8	95.7	94.8
	II	98.8	95.4	96.2
	III	102.8	96.6	98.2
	IV	94.5	99.7	97.9
2001
	I	96.4	101.8	99.8
	II	106.0	100.5	101.9
	III	102.3	98.8	99.6
	IV	95.3	99.0	97.5
2002
	I	97.5	96.6	96.5
	II	98.0	95.1	95.7
	III	96.3	91.0	92.3
	IV	90.8	90.6	90.4
2003
	I	91.1	90.5	90.3
	II	89.4	89.8	89.3
	July-August	95.8	91.9	93.1

Source: Data provided by the Bank of Israel.

^{^2/}Eight-month figure.

Table 12.

Israel: Consumer Price Index and its Main Components, 1999-2003

(percentage change in yearly rates, unless indicated otherwise)

Source: Central Bureau of Statistics data, as prepared and compiled by the Bank of Israel.

^{^1/}Weight in index since 2003.

^{^2/}Including October 2003 (last 12 months).

Table 12.

Israel: Consumer Price Index and its Main Components, 1999-2003

(percentage change in yearly rates, unless indicated otherwise)

				1999		2000		2001		2002		2003 ^2/
			Weight in index ^1/	Annual average	During year	Annual average	During year	Annual average	During year	Annual average	During year	Annual average	During year
General index			1,000.0	5.2	1.3	1.1	0.0	1.1	1.4	5.7	6.5	2.2	-2.6
Agricultural products			35.1	4.2	7.0	0.9	-5.3	3.6	7.0	3.1	-2.3	2.9	0.4
	Fruits, vegetables and field crops		29.2	4.1	7.1	0.8	-6.1	3.5	7.7	3.9	-2.8	3.2	-0.2
	Fish and animal products		4.3	5.6	5.6	1.9	1.0	3.9	2.8	-0.5	0.3	0.6	3.2
Industrial products			355.2	6.0	0.7	1.8	0.9	-0.7	-1.3	2.6	5.0	2.7	-2.1
	Food, beverages and tobacco		126.2	7.5	2.1	2.5	3.0	2.3	1.2	3.8	6.5	4.3	-0.3
	Clothing and textiles		29.6	1.6	-3.1	0.5	0.5	-3.1	-5.8	-4.4	-2.8	-6.1	-9.4
	Wood and wood products		18.0	8.0	-1.5	-2.4	-2.2	-0.9	0.4	2.3	3.1	2.0	-2.3
	Footwear, leather goods, rubber and plastic		12.7	2.8	-2.2	-0.4	-2.2	-2.2	-0.3	-2.7	-1.8	-1.8	-4.3
	Chemical and fuel products		52.6	10.5	10.0	7.5	2.5	0.8	0.0	6.7	11.1	7.0	-3.3
	Metals, machinery, transport and electronic equipment		83.0	2.0	-5.1	-0.7	-1.9	-5.2	-4.7	2.3	5.0	2.7	-0.5
	Miscellaneous		32.4	8.8	2.5	1.2	0.2	-0.3	-1.4	0.8	2.4	0.3	-2.9
Electricity and water			32.7	5.5	3.1	4.1	2.5	0.0	-0.2	12.6	19.7	13.3	-0.7
Building and housing services			228.5	2.5	-0.8	-2.4	-2.8	3.9	5.2	11.5	8.2	-2.1	-8.2
Transportation and communications			95.9	2.2	-2.6	-0.1	-1.2	1.3	2.7	7.3	9.4	5.1	1.8
Services			254.2	7.4	4.4	3.0	1.4	1.5	1.7	4.7	5.9	2.9	-0.2
	Municipal taxes and insurance		56.1	4.3	0.2	2.2.	2.1	0.1	0.6	5.2	7.5	2.6	-3.4
	Public sector services		87.1	7.4	5.9	4.5	3.4	3.5	2.3	3.6	3.9	2.8	1.4
		Education	48.6	5.9	6.0	4.9	3.6	4.2	2.1	3.2	3.3	2.1	1.8
		Health	38.5	9.9	5.9	3.8	3.0	2.2	2.5	4.3	5.2	3.8	0.8
	Personal services		57.2	9.7	6.0	3.2	1.2	0.5	1.3	5.2	7.9	5.1	2.4
		Entertainment	21.4	13.3	8.9	1.4	-2.5	-2.4	0.4	6.5	11.4	7.6	3.8
		Other	35.8	7.0	3.8	4.5	3.9	2.3	1.6	4.4	5.9	3.6	1.6
	Hotels, guest accommodation		47.5	9.7	6.8	2.3	-1.9	1.2	2.2	4.8	4.3	0.6	-1.4
	Business services		6.3	4.9	2.6	0.3	-2.0	0.1	3.0	8.4	7.5	1.7	-3.1

Source: Central Bureau of Statistics data, as prepared and compiled by the Bank of Israel.

^{^1/}Weight in index since 2003.

^{^2/}Including October 2003 (last 12 months).

Table 12.

Israel: Consumer Price Index and its Main Components, 1999-2003

(percentage change in yearly rates, unless indicated otherwise)

				1999		2000		2001		2002		2003 ^2/
			Weight in index ^1/	Annual average	During year	Annual average	During year	Annual average	During year	Annual average	During year	Annual average	During year
General index			1,000.0	5.2	1.3	1.1	0.0	1.1	1.4	5.7	6.5	2.2	-2.6
Agricultural products			35.1	4.2	7.0	0.9	-5.3	3.6	7.0	3.1	-2.3	2.9	0.4
	Fruits, vegetables and field crops		29.2	4.1	7.1	0.8	-6.1	3.5	7.7	3.9	-2.8	3.2	-0.2
	Fish and animal products		4.3	5.6	5.6	1.9	1.0	3.9	2.8	-0.5	0.3	0.6	3.2
Industrial products			355.2	6.0	0.7	1.8	0.9	-0.7	-1.3	2.6	5.0	2.7	-2.1
	Food, beverages and tobacco		126.2	7.5	2.1	2.5	3.0	2.3	1.2	3.8	6.5	4.3	-0.3
	Clothing and textiles		29.6	1.6	-3.1	0.5	0.5	-3.1	-5.8	-4.4	-2.8	-6.1	-9.4
	Wood and wood products		18.0	8.0	-1.5	-2.4	-2.2	-0.9	0.4	2.3	3.1	2.0	-2.3
	Footwear, leather goods, rubber and plastic		12.7	2.8	-2.2	-0.4	-2.2	-2.2	-0.3	-2.7	-1.8	-1.8	-4.3
	Chemical and fuel products		52.6	10.5	10.0	7.5	2.5	0.8	0.0	6.7	11.1	7.0	-3.3
	Metals, machinery, transport and electronic equipment		83.0	2.0	-5.1	-0.7	-1.9	-5.2	-4.7	2.3	5.0	2.7	-0.5
	Miscellaneous		32.4	8.8	2.5	1.2	0.2	-0.3	-1.4	0.8	2.4	0.3	-2.9
Electricity and water			32.7	5.5	3.1	4.1	2.5	0.0	-0.2	12.6	19.7	13.3	-0.7
Building and housing services			228.5	2.5	-0.8	-2.4	-2.8	3.9	5.2	11.5	8.2	-2.1	-8.2
Transportation and communications			95.9	2.2	-2.6	-0.1	-1.2	1.3	2.7	7.3	9.4	5.1	1.8
Services			254.2	7.4	4.4	3.0	1.4	1.5	1.7	4.7	5.9	2.9	-0.2
	Municipal taxes and insurance		56.1	4.3	0.2	2.2.	2.1	0.1	0.6	5.2	7.5	2.6	-3.4
	Public sector services		87.1	7.4	5.9	4.5	3.4	3.5	2.3	3.6	3.9	2.8	1.4
		Education	48.6	5.9	6.0	4.9	3.6	4.2	2.1	3.2	3.3	2.1	1.8
		Health	38.5	9.9	5.9	3.8	3.0	2.2	2.5	4.3	5.2	3.8	0.8
	Personal services		57.2	9.7	6.0	3.2	1.2	0.5	1.3	5.2	7.9	5.1	2.4
		Entertainment	21.4	13.3	8.9	1.4	-2.5	-2.4	0.4	6.5	11.4	7.6	3.8
		Other	35.8	7.0	3.8	4.5	3.9	2.3	1.6	4.4	5.9	3.6	1.6
	Hotels, guest accommodation		47.5	9.7	6.8	2.3	-1.9	1.2	2.2	4.8	4.3	0.6	-1.4
	Business services		6.3	4.9	2.6	0.3	-2.0	0.1	3.0	8.4	7.5	1.7	-3.1

Source: Central Bureau of Statistics data, as prepared and compiled by the Bank of Israel.

^{^1/}Weight in index since 2003.

^{^2/}Including October 2003 (last 12 months).

Table 13.

Israel: Selected Price Indices, l997-2002

(Percent increase during the period)

Source: Central Bureau of Statistics data, as prepared and compiled by the Bank of Israel.

^{^1/}The weights of the components in the Consumer Price Index were changed in 2000.

^{^2/}Public transport, communication services, education, medical serivices, municiple taxes, electricity, fuel, water, and me

Table 13.

Israel: Selected Price Indices, l997-2002

(Percent increase during the period)

			Weight ^1/
			1999	2000	1997	1998	1999	2000	2001	2002
Consumer price index
	General index		1,000.0	1,000.0	7.0	8.6	1.3	0.0	1.4	6.5
	Controlled prices ^2/		134.5	151.0	7.6	7.6	1.2	2.2	-5	6.7
	Uncontrolled prices		865.5	849.0	6.9	8.8	1.4	-0.4	…	…
	Tradables		402.2	400.8	5.8	8.7	-0.1	-0.4	-3.9	6.6
	Nontradables		597.8	599.2	7.7	8.6	2.3	0.2	-5.9	6.5
		Of which: Housing	214.2	206.4	7.5	8.8	-0.9	-2.4	…	…
	CPI excluding housing		785.8	793.0	6.8	8.6	2.0	0.6	0.4	6.1
	CPI excluding housing and fruits & vegetables		750.4	763.0	6.7	8.5	1.7	0.9	0.2	6.3
	CPI excluding housing, fruits & vegetables, controlled prices, clothing & footwear		569.9	576.5	7.8	8.8	2.4	0.6	-4.2	6.9
Wholesale price index of
	industrial output				5.9	8.2	3.5	2.0	-1.9	6.9
Exchange rates
	Against the U.S. dollar				7.9	18.2	0.4	-2.7	4.8	9.8
	Against the currency basket				3.7	20.6	-2.5	-6.3	3.7	14.2

Source: Central Bureau of Statistics data, as prepared and compiled by the Bank of Israel.

^{^1/}The weights of the components in the Consumer Price Index were changed in 2000.

^{^2/}Public transport, communication services, education, medical serivices, municiple taxes, electricity, fuel, water, and me

Table 13.

Israel: Selected Price Indices, l997-2002

(Percent increase during the period)

			Weight ^1/
			1999	2000	1997	1998	1999	2000	2001	2002
Consumer price index
	General index		1,000.0	1,000.0	7.0	8.6	1.3	0.0	1.4	6.5
	Controlled prices ^2/		134.5	151.0	7.6	7.6	1.2	2.2	-5	6.7
	Uncontrolled prices		865.5	849.0	6.9	8.8	1.4	-0.4	…	…
	Tradables		402.2	400.8	5.8	8.7	-0.1	-0.4	-3.9	6.6
	Nontradables		597.8	599.2	7.7	8.6	2.3	0.2	-5.9	6.5
		Of which: Housing	214.2	206.4	7.5	8.8	-0.9	-2.4	…	…
	CPI excluding housing		785.8	793.0	6.8	8.6	2.0	0.6	0.4	6.1
	CPI excluding housing and fruits & vegetables		750.4	763.0	6.7	8.5	1.7	0.9	0.2	6.3
	CPI excluding housing, fruits & vegetables, controlled prices, clothing & footwear		569.9	576.5	7.8	8.8	2.4	0.6	-4.2	6.9
Wholesale price index of
	industrial output				5.9	8.2	3.5	2.0	-1.9	6.9
Exchange rates
	Against the U.S. dollar				7.9	18.2	0.4	-2.7	4.8	9.8
	Against the currency basket				3.7	20.6	-2.5	-6.3	3.7	14.2

Source: Central Bureau of Statistics data, as prepared and compiled by the Bank of Israel.

^{^1/}The weights of the components in the Consumer Price Index were changed in 2000.

^{^2/}Public transport, communication services, education, medical serivices, municiple taxes, electricity, fuel, water, and me

Table 14.

Israel: Bank of Israel Accounts, 1997-2002

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 14.

Israel: Bank of Israel Accounts, 1997-2002

				1997	1998	1999	2000	2001	2002
				(In millions of new sheqalim; end of period)
Total assets				85,952	107,807	107,499	107,824	116,911	128,686
	Foreign assets			71,896	94,325	93,504	93,606	102,367	112,123
	International Monetary Fund			…	…	375	474	875	1,957
	Domestic assets			14,056	13,482	13,620	13,744	13,669	14,606
		Credit to the government (long term debt)		7,109	6,760	6,367	5,946	5,514	5,051
		Loans and notes		1,537	838	810	787	807	3,006
			Monetary	1,444	796	785	781	802	871
			Other	93	42	25	6	5	2,135
		Government securities		5,090	5,528	6,049	6,584	6,690	6,005
		Other accounts		320	356	394	427	658	544
Total liabilities				85,952	107,807	107,499	107,824	116,911	128,686
	Foreign liabilities			617	714	680	633	665	761
		Allocations of SDRs		511	626	610	564	593	685
		Liabilities to international monetary organizations		106	88	70	69	72	76
	Currency in circulation			10,373	11,935	15,605	14,659	16,858	18,009
	Deposits of the government			27,550	39,407	32,242	37,369	39,290	51,914
		In Israeli currency		14,917	18,824	12,141	16,328	20,281	31,542
		In foreign currency		12,633	20,583	20,101	21,041	19,008	20,372
	Deposits of banking institutions			46,547	52,709	64,461	65,900	64,216	50,266
		In Israeli currency		38,832	44,778	53,720	56,800	53,442	43,200
		In foreign currency		7,715	7,931	10,741	9,100	10,773	7,066
			Against resident deposits	7,247	7,526	8,324	8,741	9,238	4,790
			Against nonresident deposits	…	…	…	…	…	…
			Free deposits of banking institutions	468	405	2,417	359	1,535	2,276
	Other deposits and accounts			1,890	2,722	2,301	2,795	2,972	3,406
	Revaluation accounts			…	…	…	960	6,659	16,014
	Capital and reserves			-1,025	320	-7,790	-14,492	-13,750	-11,684

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 14.

Israel: Bank of Israel Accounts, 1997-2002

				1997	1998	1999	2000	2001	2002
				(In millions of new sheqalim; end of period)
Total assets				85,952	107,807	107,499	107,824	116,911	128,686
	Foreign assets			71,896	94,325	93,504	93,606	102,367	112,123
	International Monetary Fund			…	…	375	474	875	1,957
	Domestic assets			14,056	13,482	13,620	13,744	13,669	14,606
		Credit to the government (long term debt)		7,109	6,760	6,367	5,946	5,514	5,051
		Loans and notes		1,537	838	810	787	807	3,006
			Monetary	1,444	796	785	781	802	871
			Other	93	42	25	6	5	2,135
		Government securities		5,090	5,528	6,049	6,584	6,690	6,005
		Other accounts		320	356	394	427	658	544
Total liabilities				85,952	107,807	107,499	107,824	116,911	128,686
	Foreign liabilities			617	714	680	633	665	761
		Allocations of SDRs		511	626	610	564	593	685
		Liabilities to international monetary organizations		106	88	70	69	72	76
	Currency in circulation			10,373	11,935	15,605	14,659	16,858	18,009
	Deposits of the government			27,550	39,407	32,242	37,369	39,290	51,914
		In Israeli currency		14,917	18,824	12,141	16,328	20,281	31,542
		In foreign currency		12,633	20,583	20,101	21,041	19,008	20,372
	Deposits of banking institutions			46,547	52,709	64,461	65,900	64,216	50,266
		In Israeli currency		38,832	44,778	53,720	56,800	53,442	43,200
		In foreign currency		7,715	7,931	10,741	9,100	10,773	7,066
			Against resident deposits	7,247	7,526	8,324	8,741	9,238	4,790
			Against nonresident deposits	…	…	…	…	…	…
			Free deposits of banking institutions	468	405	2,417	359	1,535	2,276
	Other deposits and accounts			1,890	2,722	2,301	2,795	2,972	3,406
	Revaluation accounts			…	…	…	960	6,659	16,014
	Capital and reserves			-1,025	320	-7,790	-14,492	-13,750	-11,684

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 15.

Israel: Financial Assets of the Public, 1998-2002

Source: Data provided by the Bank of Israel.

^1/The public consists of individuals and corporations excluding the Government, Bank of Israel, ordinary banking corporations, and banks abroad. It includes social and life insurance funds but does not include the assets of these funds held out of the ordinary banking system.

^{^2/}Noninterest-bearing deposits mandated by law to cover total subscriptions for securities floatations in the TASE.

^{^3/}Nominal rate deflated by consumer price index.

Table 15.

Israel: Financial Assets of the Public, 1998-2002

				1998	1999	2000	2001	2002
				(In millions of new sheqalim; end of period)
Total assets in banks and government bonds				544,700	600,174	639,094	698,105	756,033
	Broad money assets			382,497	426,920	455,949	489,629	519,836
		Liquid financial assets (M3)		197,144	236,487	271,933	309,384	314,907
			Money supply (M1)	20,591	23,536	25,298	29,198	30,628
			Time deposits	101,780	130,722	160,722	184,878	182,308
CD’S				20,153	24,544	26,365	28,782	24,835
			Special deposits ^2/	1	0	0	0	0
			Resident foreign currency	38,547	43,239	46,766	52,666	59,967
		Medium-term assets
			Restitution deposits	18,545	16,997	15,254	16,403	20,194
		Long-term assets
			CPI indexed saving schemes	95,788	101,778	93,388	91,463	108,299
			Foreign currency saving schemes	5,746	6,268	7,573	6,562	6,772
			Long-term CPI indexed deposits	58,040	58,080	60,223	60,691	63,248
			Long-term denominated in and indexed deposits	7,234	7,309	7,577	5,126	6,416
			Earmarked deposits	…	…	…	…	…
		Short-term treasury bills		15,983	18,203	25,866	26,556	37,967
		Tradable government bonds		146,220	155,050	157,280	181,920	198,230
		Stocks		190,502	191,239	191,037	263,182	201,556
Total financial assets				735,202	791,413	830,131	961,287	957,589
		Of which: Nonindexed short-term assets		158,509	197,005	238,251	269,414	275,737
				(In percent of total financial assets)
Total assets in banks and government bonds				74.1	75.8	77.0	72.6	79.0
	Broad money assets			52.0	53.9	54.9	50.9	54.3
		Liquid financial assets (M3)		26.8	29.9	32.8	32.2	32.9
			Money supply (M1)	2.8	3.0	3.0	3.0	3.2
			Time deposits	13.8	16.5	19.4	19.2	19.0
CD’S				2.7	3.1	3.2	3.0	2.6
			Special deposits ^2/	0.0	0.0	0.0	0.0	0.0
			Resident foreign currency	5.2	5.5	5.6	5.5	6.3
		Medium-term assets
			Restitution deposits	2.5	2.1	1.8	1.7	2.1
		Long-term assets
			CPI indexed saving schemes	13.0	12.9	11.2	9.5	11.3
			Foreign currency saving schemes	0.8	0.8	0.9	0.7	0.7
			Long-term CPI indexed deposits	7.9	7.3	7.3	6.3	6.6
			Long-term denominated in and indexed deposits	1.0	0.9	0.9	0.5	0.7
			Earmarked deposits	…	…	…	…	…
		Short-term treasury bills		2.2	2.3	3.1	2.8	4.0
		Tradable government bonds		19.9	19.6	18.9	18.9	20.7
		Stocks		25.9	24.2	23.0	27.4	21.0
Total financial assets				100.0	100.0	100.0	100.0	100.0
		Of which: Nonindexed short-term assets		21.6	24.9	28.7	28.0	28.8
				(Real rate of growth) ^3/
Total assets in banks and government bonds				…	8.7	6.5	7.7	1.7
	Broad money assets			…	10.1	6.8	5.9	-0.3
		Liquid financial assets (M3)		…	18.4	15.0	12.2	-4.4
			Money supply (M1)	…	12.8	7.5	13.8	-1.5
			Time deposits	…	26.7	22.9	13.4	-7.4
CD’S				…	20.2	7.4	7.6	-19.0
			Special deposits ^2/	…	…	…	…	…
			Resident foreign currency	…	10.7	8.2	11.1	6.9
			Restitution deposits	…	-9.6	-10.3	6.0	15.6
		Long-term assets		…
			CPI indexed saving schemes	…	4.8	-8.2	-3.4	11.2
			Foreign currency saving schemes	…	7.6	20.8	-14.6	-3.1
			Long-term CPI indexed deposits	…	-1.3	3.7	-0.6	-2.1
			Long-term denominated in and indexed deposits	…	-0.3	3.7	-33.3	17.5
			Earmarked deposits	…
		Short-term treasury bills		…	12.4	42.1	1.2	34.2
		Tradable government bonds		…	4.6	1.4	14.1	2.3
		Stocks		…	-0.9	-0.1	35.9	-28.1
Total financial assets				…	6.2	4.9	14.2	-6.5
		Of which: Nonindexed short-term assets		…	22.6	20.9	11.5	-3.9

Source: Data provided by the Bank of Israel.

^{^2/}Noninterest-bearing deposits mandated by law to cover total subscriptions for securities floatations in the TASE.

^{^3/}Nominal rate deflated by consumer price index.

Table 15.

Israel: Financial Assets of the Public, 1998-2002

				1998	1999	2000	2001	2002
				(In millions of new sheqalim; end of period)
Total assets in banks and government bonds				544,700	600,174	639,094	698,105	756,033
	Broad money assets			382,497	426,920	455,949	489,629	519,836
		Liquid financial assets (M3)		197,144	236,487	271,933	309,384	314,907
			Money supply (M1)	20,591	23,536	25,298	29,198	30,628
			Time deposits	101,780	130,722	160,722	184,878	182,308
CD’S				20,153	24,544	26,365	28,782	24,835
			Special deposits ^2/	1	0	0	0	0
			Resident foreign currency	38,547	43,239	46,766	52,666	59,967
		Medium-term assets
			Restitution deposits	18,545	16,997	15,254	16,403	20,194
		Long-term assets
			CPI indexed saving schemes	95,788	101,778	93,388	91,463	108,299
			Foreign currency saving schemes	5,746	6,268	7,573	6,562	6,772
			Long-term CPI indexed deposits	58,040	58,080	60,223	60,691	63,248
			Long-term denominated in and indexed deposits	7,234	7,309	7,577	5,126	6,416
			Earmarked deposits	…	…	…	…	…
		Short-term treasury bills		15,983	18,203	25,866	26,556	37,967
		Tradable government bonds		146,220	155,050	157,280	181,920	198,230
		Stocks		190,502	191,239	191,037	263,182	201,556
Total financial assets				735,202	791,413	830,131	961,287	957,589
		Of which: Nonindexed short-term assets		158,509	197,005	238,251	269,414	275,737
				(In percent of total financial assets)
Total assets in banks and government bonds				74.1	75.8	77.0	72.6	79.0
	Broad money assets			52.0	53.9	54.9	50.9	54.3
		Liquid financial assets (M3)		26.8	29.9	32.8	32.2	32.9
			Money supply (M1)	2.8	3.0	3.0	3.0	3.2
			Time deposits	13.8	16.5	19.4	19.2	19.0
CD’S				2.7	3.1	3.2	3.0	2.6
			Special deposits ^2/	0.0	0.0	0.0	0.0	0.0
			Resident foreign currency	5.2	5.5	5.6	5.5	6.3
		Medium-term assets
			Restitution deposits	2.5	2.1	1.8	1.7	2.1
		Long-term assets
			CPI indexed saving schemes	13.0	12.9	11.2	9.5	11.3
			Foreign currency saving schemes	0.8	0.8	0.9	0.7	0.7
			Long-term CPI indexed deposits	7.9	7.3	7.3	6.3	6.6
			Long-term denominated in and indexed deposits	1.0	0.9	0.9	0.5	0.7
			Earmarked deposits	…	…	…	…	…
		Short-term treasury bills		2.2	2.3	3.1	2.8	4.0
		Tradable government bonds		19.9	19.6	18.9	18.9	20.7
		Stocks		25.9	24.2	23.0	27.4	21.0
Total financial assets				100.0	100.0	100.0	100.0	100.0
		Of which: Nonindexed short-term assets		21.6	24.9	28.7	28.0	28.8
				(Real rate of growth) ^3/
Total assets in banks and government bonds				…	8.7	6.5	7.7	1.7
	Broad money assets			…	10.1	6.8	5.9	-0.3
		Liquid financial assets (M3)		…	18.4	15.0	12.2	-4.4
			Money supply (M1)	…	12.8	7.5	13.8	-1.5
			Time deposits	…	26.7	22.9	13.4	-7.4
CD’S				…	20.2	7.4	7.6	-19.0
			Special deposits ^2/	…	…	…	…	…
			Resident foreign currency	…	10.7	8.2	11.1	6.9
			Restitution deposits	…	-9.6	-10.3	6.0	15.6
		Long-term assets		…
			CPI indexed saving schemes	…	4.8	-8.2	-3.4	11.2
			Foreign currency saving schemes	…	7.6	20.8	-14.6	-3.1
			Long-term CPI indexed deposits	…	-1.3	3.7	-0.6	-2.1
			Long-term denominated in and indexed deposits	…	-0.3	3.7	-33.3	17.5
			Earmarked deposits	…
		Short-term treasury bills		…	12.4	42.1	1.2	34.2
		Tradable government bonds		…	4.6	1.4	14.1	2.3
		Stocks		…	-0.9	-0.1	35.9	-28.1
Total financial assets				…	6.2	4.9	14.2	-6.5
		Of which: Nonindexed short-term assets		…	22.6	20.9	11.5	-3.9

Source: Data provided by the Bank of Israel.

^{^2/}Noninterest-bearing deposits mandated by law to cover total subscriptions for securities floatations in the TASE.

^{^3/}Nominal rate deflated by consumer price index.

Table 16.

Israel: Interest Rates, 1997-2004 ^1/

Source: Data provided by the Bank of Israel.

^{^1/}All interest rates converted to annual terms at compounded interest.

^{^2/}Includes basic interest rate, commitment fees and the higher interest charged for drawings in excess of approved ceiling.

^{^3/}Includes interest on overdraft facilities.

^{^4/}Monthly rate compounded annually.

Table 16.

Israel: Interest Rates, 1997-2004 ^1/

		Inflation rate	Change in NIS/US$ exchange rate	Lending rates			Deposit rates			Yield to maturity on treasury bills	Yield to maturity on 5-year bonds
		Inflation rate	Change in NIS/US$ exchange rate	Overdraft facilities ^2/	Exceptional credit	Nondirected NIS credit ^3/	Reserve deposits with BoI	Self Renewing Overnight	Time deposits	Yield to maturity on treasury bills	Yield to maturity on 5-year bonds
		(Average annual rate)		(Nominal rates in percent per annum) ^4/
2000		1.1	-1.5	15.8	18.1	12.8	8.0	8.0	8.6	8.8	6.0
2001		1.2	4.6	13.4	15.6	10.0	5.7	5.6	6.2	6.5	4.9
2002		5.7	15.1	13.6	15.5	9.9	5.2	5.8	6.0	7.4	4.8
		(Annualized rate)		(Percent increase over preceding month)
2000 Jan.		1.3	-22.5	17.3	19.4	14.6	9.4	9.4	10.0	9.4	5.9
	Feb.	1.6	-14.0	16.9	19.1	14.1	8.6	9.0	9.6	9.3	6.0
	Mar.	1.5	-13.7	16.5	18.7	13.6	8.7	8.6	9.2	8.6	5.6
	Apr.	1.7	11.4	16.1	18.3	13.2	8.3	8.2	8.9	8.8	5.7
	May	2.1	36.2	15.9	18.1	12.9	8.0	8.0	8.6	9.1	5.7
	June	2.1	-10.6	15.9	18.0	12.9	7.9	8.0	8.6	9.3	5.7
	July	2.1	-5.0	15.8	18.1	12.9	8.0	7.9	8.6	9.0	6.1
	Aug.	1.0	-11.5	15.6	17.9	12.6	7.8	7.8	8.4	8.8	6.5
	Sep.	0.0	-2.8	15.2	17.7	12.3	7.6	7.5	8.2	8.6	6.0
	Oct.	-0.1	21.7	15.1	17.4	12.0	7.4	7.2	7.9	8.6	6.1
	Nov.	0.1	1.3	15.0	17.3	11.8	7.4	7.1	7.8	8.4	6.1
	Dec.	0.0	-8.0	14.6	17.0	11.5	7.0	6.9	7.6	7.8	6.2
2001 Jan.		-0.1	11.8	14.6	16.8	11.3	6.9	6.7	7.4	7.6	6.1
	Feb.	0.3	0.6	14.2	16.5	11.0	6.6	6.5	7.1	7.2	5.7
	Mar.	0.7	13.3	14.0	16.3	10.8	6.4	6.3	6.88	7.1	5.4
	Apr.	1.2	3.3	13.7	16.0	10.4	6.1	5.9	6.61	6.8	5.2
	May	…	-9.9	13.7	…	10.4	…	6.0	6.52	6.6	5.0
	June	…	2.6	13.4	…	10.1	…	5.7	6.28	6.3	4.7
	July	…	…	13.1	…	9.7	…	5.3	5.9	6.2	4.5
	Aug.	1.7	10.5	12.8	14.9	9.4	5.2	5.1	5.7	6.4	4.3
	Sep.	2.5	28.4	13.0	15.2	9.4	5.1	5.1	5.7	6.7	4.1
	Oct.	2.0	-2.1	13.2	15.3	9.5	5.2	5.1	5.7	6.3	4.4
	Nov.	1.4	-19.2	12.8	14.9	9.3	5.0	4.9	5.5	5.8	4.7
	Dec.	1.4	10.9	12.0	14.3	8.6	4.4	4.2	4.9	5.0	4.4
2002 Jan		3.1	103.8	10.4	12.6	7.2	3.1	2.9	3.6	4.3	3.1
	Feb.	4.0	38.5	10.5	12.6	7.2	3.0	2.9	3.5	4.8	2.9
	Mar.	4.3	0.6	11.2	13.4	7.7	3.3	3.4	3.8	5.3	3.8
	Apr.	5.0	43.3	11.2	13.2	7.7	3.3	3.4	3.9	6.0	4.3
	May	5.5	24.3	11.6	13.6	7.8	3.4	3.7	4.0	6.7	4.2
	June	6.6	11.7	13.7	15.6	9.7	4.9	5.7	5.6	8.9	4.6
	July	6.9	-41.9	16.1	17.8	11.8	6.9	8.0	7.8	8.9	5.7
	Aug.	6.2	-10.8	16.1	17.8	11.9	6.9	7.9	7.9	8.7	5.7
	Sep.	6.4	28.5	15.9	17.8	12.0	7.0	7.9	8.0	8.9	5.9
	Oct.	6.9	6.0	15.5	17.2	11.8	7.0	7.9	8.0	9.3	6.0
	Nov.	6.7	-24.6	15.5	17.2	11.8	6.9	7.9	8.1	8.9	5.9
	Dec.	6.5	1.8	15.3	17.2	11.8	7.0	7.7	8.1	7.9	5.8
2003 Jan		5.6	43.2	15.8	16.8	12.0	6.6	7.7	8.0	8.1	5.7
	Feb.	5.1	7.6	15.7	17.0	12.1	6.7	7.7	8.0	8.8	5.5
	Mar.	4.8	-19.1	15.2	16.7	11.9	6.5	7.7	8.0	8.6	5.5
	Apr.	3.1	-34.0	15.2	16.5	11.8	6.3	7.5	7.8	8.1	5.7
	May	1.6	-31.0	14.7	16.2	11.5	6.1	7.2	7.5	7.6	5.3
	June	-0.3	-23.7	14.0	15.8	11.0	5.6	6.6	7.1	7.1	4.8
	July	-1.6	-1.9	13.4	15.3	10.7	5.3	6.2	6.7	6.7	4.4
	Aug.	-1.1	24.7	13.0	15.0	10.2	4.7	5.7	6.2	6.6	4.6
	Sep.	-1.9	3.5	12.4	14.5	9.8	4.5	5.2	5.7	6.2	4.6
	Oct.	-2.6	-4.4	12.2	14.2	9.4	4.4	4.9	5.4	5.8	4.4
	Nov.	-2.0	13.0	11.7	13.8	8.9	3.8	4.3	4.9	5.4	4.2
	Dec.	-1.9	-23.8	…	…	…	…	…	…	4.9	4.1
2004 Jan.		…	8.7	…	…	…	…	…	…	4.7	3.8
	Feb.	…	14.7	…	…	…	…	…	…	4.8	3.7

Source: Data provided by the Bank of Israel.

^{^1/}All interest rates converted to annual terms at compounded interest.

^{^2/}Includes basic interest rate, commitment fees and the higher interest charged for drawings in excess of approved ceiling.

^{^3/}Includes interest on overdraft facilities.

^{^4/}Monthly rate compounded annually.

Table 16.

Israel: Interest Rates, 1997-2004 ^1/

		Inflation rate	Change in NIS/US$ exchange rate	Lending rates			Deposit rates			Yield to maturity on treasury bills	Yield to maturity on 5-year bonds
		Inflation rate	Change in NIS/US$ exchange rate	Overdraft facilities ^2/	Exceptional credit	Nondirected NIS credit ^3/	Reserve deposits with BoI	Self Renewing Overnight	Time deposits	Yield to maturity on treasury bills	Yield to maturity on 5-year bonds
		(Average annual rate)		(Nominal rates in percent per annum) ^4/
2000		1.1	-1.5	15.8	18.1	12.8	8.0	8.0	8.6	8.8	6.0
2001		1.2	4.6	13.4	15.6	10.0	5.7	5.6	6.2	6.5	4.9
2002		5.7	15.1	13.6	15.5	9.9	5.2	5.8	6.0	7.4	4.8
		(Annualized rate)		(Percent increase over preceding month)
2000 Jan.		1.3	-22.5	17.3	19.4	14.6	9.4	9.4	10.0	9.4	5.9
	Feb.	1.6	-14.0	16.9	19.1	14.1	8.6	9.0	9.6	9.3	6.0
	Mar.	1.5	-13.7	16.5	18.7	13.6	8.7	8.6	9.2	8.6	5.6
	Apr.	1.7	11.4	16.1	18.3	13.2	8.3	8.2	8.9	8.8	5.7
	May	2.1	36.2	15.9	18.1	12.9	8.0	8.0	8.6	9.1	5.7
	June	2.1	-10.6	15.9	18.0	12.9	7.9	8.0	8.6	9.3	5.7
	July	2.1	-5.0	15.8	18.1	12.9	8.0	7.9	8.6	9.0	6.1
	Aug.	1.0	-11.5	15.6	17.9	12.6	7.8	7.8	8.4	8.8	6.5
	Sep.	0.0	-2.8	15.2	17.7	12.3	7.6	7.5	8.2	8.6	6.0
	Oct.	-0.1	21.7	15.1	17.4	12.0	7.4	7.2	7.9	8.6	6.1
	Nov.	0.1	1.3	15.0	17.3	11.8	7.4	7.1	7.8	8.4	6.1
	Dec.	0.0	-8.0	14.6	17.0	11.5	7.0	6.9	7.6	7.8	6.2
2001 Jan.		-0.1	11.8	14.6	16.8	11.3	6.9	6.7	7.4	7.6	6.1
	Feb.	0.3	0.6	14.2	16.5	11.0	6.6	6.5	7.1	7.2	5.7
	Mar.	0.7	13.3	14.0	16.3	10.8	6.4	6.3	6.88	7.1	5.4
	Apr.	1.2	3.3	13.7	16.0	10.4	6.1	5.9	6.61	6.8	5.2
	May	…	-9.9	13.7	…	10.4	…	6.0	6.52	6.6	5.0
	June	…	2.6	13.4	…	10.1	…	5.7	6.28	6.3	4.7
	July	…	…	13.1	…	9.7	…	5.3	5.9	6.2	4.5
	Aug.	1.7	10.5	12.8	14.9	9.4	5.2	5.1	5.7	6.4	4.3
	Sep.	2.5	28.4	13.0	15.2	9.4	5.1	5.1	5.7	6.7	4.1
	Oct.	2.0	-2.1	13.2	15.3	9.5	5.2	5.1	5.7	6.3	4.4
	Nov.	1.4	-19.2	12.8	14.9	9.3	5.0	4.9	5.5	5.8	4.7
	Dec.	1.4	10.9	12.0	14.3	8.6	4.4	4.2	4.9	5.0	4.4
2002 Jan		3.1	103.8	10.4	12.6	7.2	3.1	2.9	3.6	4.3	3.1
	Feb.	4.0	38.5	10.5	12.6	7.2	3.0	2.9	3.5	4.8	2.9
	Mar.	4.3	0.6	11.2	13.4	7.7	3.3	3.4	3.8	5.3	3.8
	Apr.	5.0	43.3	11.2	13.2	7.7	3.3	3.4	3.9	6.0	4.3
	May	5.5	24.3	11.6	13.6	7.8	3.4	3.7	4.0	6.7	4.2
	June	6.6	11.7	13.7	15.6	9.7	4.9	5.7	5.6	8.9	4.6
	July	6.9	-41.9	16.1	17.8	11.8	6.9	8.0	7.8	8.9	5.7
	Aug.	6.2	-10.8	16.1	17.8	11.9	6.9	7.9	7.9	8.7	5.7
	Sep.	6.4	28.5	15.9	17.8	12.0	7.0	7.9	8.0	8.9	5.9
	Oct.	6.9	6.0	15.5	17.2	11.8	7.0	7.9	8.0	9.3	6.0
	Nov.	6.7	-24.6	15.5	17.2	11.8	6.9	7.9	8.1	8.9	5.9
	Dec.	6.5	1.8	15.3	17.2	11.8	7.0	7.7	8.1	7.9	5.8
2003 Jan		5.6	43.2	15.8	16.8	12.0	6.6	7.7	8.0	8.1	5.7
	Feb.	5.1	7.6	15.7	17.0	12.1	6.7	7.7	8.0	8.8	5.5
	Mar.	4.8	-19.1	15.2	16.7	11.9	6.5	7.7	8.0	8.6	5.5
	Apr.	3.1	-34.0	15.2	16.5	11.8	6.3	7.5	7.8	8.1	5.7
	May	1.6	-31.0	14.7	16.2	11.5	6.1	7.2	7.5	7.6	5.3
	June	-0.3	-23.7	14.0	15.8	11.0	5.6	6.6	7.1	7.1	4.8
	July	-1.6	-1.9	13.4	15.3	10.7	5.3	6.2	6.7	6.7	4.4
	Aug.	-1.1	24.7	13.0	15.0	10.2	4.7	5.7	6.2	6.6	4.6
	Sep.	-1.9	3.5	12.4	14.5	9.8	4.5	5.2	5.7	6.2	4.6
	Oct.	-2.6	-4.4	12.2	14.2	9.4	4.4	4.9	5.4	5.8	4.4
	Nov.	-2.0	13.0	11.7	13.8	8.9	3.8	4.3	4.9	5.4	4.2
	Dec.	-1.9	-23.8	…	…	…	…	…	…	4.9	4.1
2004 Jan.		…	8.7	…	…	…	…	…	…	4.7	3.8
	Feb.	…	14.7	…	…	…	…	…	…	4.8	3.7

Source: Data provided by the Bank of Israel.

^{^1/}All interest rates converted to annual terms at compounded interest.

^{^2/}Includes basic interest rate, commitment fees and the higher interest charged for drawings in excess of approved ceiling.

^{^3/}Includes interest on overdraft facilities.

^{^4/}Monthly rate compounded annually.

Table 17.

Israel: Interest Rates on Various Types of Credit and the Public’s Assets, 1998-2003

Source: Data provided by the Bank of Israel.

^1/Includes directed credit and nondirected foreign currency linked credit.

^{^2/}Average for all time deposits, overdrafts, and the rate on certificates of deposit.

^{^3/}Nominal rate deflated by consumer price index. In the case of quarterly data, the rate of inflation used is the annualized quarterly rate.

Table 17.

Israel: Interest Rates on Various Types of Credit and the Public’s Assets, 1998-2003

			1997	1998	1999	2000	2001	2002	2002				2003
									I	II	III	IV	I	II	III
			(Annual rates in percent, before tax)
Nominal interest rates
	Nondirected credit		17.3	21.6	16.4	12.8	10.0	9.9	…	…	12.0	11.8	11.9	11.0	9.8
	In Israeli currency		18.7	16.2	16.4	12.9	10.0	9.9	7.7	9.7	12.0	11.8	11.9	11.0	9.8
		Overdraft facilities	20.8	18.3	19.1	15.8	13.4	13.6	11.2	13.6	15.9	15.3	15.2	14.0	12.3
		Fixed-term credit	17.0	14.7	14.9	11.6	8.8	8.6	6.6	8.4	10.6	10.6	10.7	9.9	8.9
Self-renewing overnight deposits			12.2	10.3	10.7	8.0	5.6	5.8	3.4	5.7	7.9	7.7	7.7	6.6	5.2
Time deposits ^2/			13.1	11.0	11.3	8.6	6.2	6.0	3.8	5.6	8.0	8.1	8.0	7.1	5.7
Three-month treasury bills			14.1	11.4	8.8	6.5	7.4	7.0	5.3	8.9	8.9	7.9	8.6	7.1	6.2
Indexed 5-year government bonds			3.9	5.1	5.6	6.0	4.9	4.8	3.8	4.6	5.9	5.8	5.5	4.8	4.6
Real actual interest rates ^3/
	Nondirected credit		9.6	11.9	14.9	12.8	8.5	3.2	…	…	5.3	5.0	6.8	11.3	11.9
	In Israeli currency		11.0	6.9	14.9	12.9	8.5	3.2	3.2	2.9	5.3	5.0	6.8	11.3	11.9
		Overdraft facilities	12.9	8.9	17.5	15.8	11.8	6.6	6.6	6.6	9.0	8.2	9.9	14.4	14.5
		Fixed-term credit	9.3	5.6	13.4	11.6	7.3	2.0	2.2	1.7	4.0	3.9	5.6	10.2	11.0
Time deposits ^2/			5.7	2.2	9.9	8.6	4.7	-0.5	-0.5	-0.9	1.5	1.5	3.0	7.4	7.7
Three-month treasury bills			6.6	2.6	7.4	6.5	5.9	0.5	1.0	2.1	2.4	1.3	3.6	7.4	8.3
Indexed 5-year government bonds			3.9	5.1	5.6	6.0	4.9	4.8	3.8	4.6	5.9	5.8	5.5	4.8	4.6

Source: Data provided by the Bank of Israel.

^1/Includes directed credit and nondirected foreign currency linked credit.

^{^2/}Average for all time deposits, overdrafts, and the rate on certificates of deposit.

^{^3/}Nominal rate deflated by consumer price index. In the case of quarterly data, the rate of inflation used is the annualized quarterly rate.

Table 17.

Israel: Interest Rates on Various Types of Credit and the Public’s Assets, 1998-2003

			1997	1998	1999	2000	2001	2002	2002				2003
									I	II	III	IV	I	II	III
			(Annual rates in percent, before tax)
Nominal interest rates
	Nondirected credit		17.3	21.6	16.4	12.8	10.0	9.9	…	…	12.0	11.8	11.9	11.0	9.8
	In Israeli currency		18.7	16.2	16.4	12.9	10.0	9.9	7.7	9.7	12.0	11.8	11.9	11.0	9.8
		Overdraft facilities	20.8	18.3	19.1	15.8	13.4	13.6	11.2	13.6	15.9	15.3	15.2	14.0	12.3
		Fixed-term credit	17.0	14.7	14.9	11.6	8.8	8.6	6.6	8.4	10.6	10.6	10.7	9.9	8.9
Self-renewing overnight deposits			12.2	10.3	10.7	8.0	5.6	5.8	3.4	5.7	7.9	7.7	7.7	6.6	5.2
Time deposits ^2/			13.1	11.0	11.3	8.6	6.2	6.0	3.8	5.6	8.0	8.1	8.0	7.1	5.7
Three-month treasury bills			14.1	11.4	8.8	6.5	7.4	7.0	5.3	8.9	8.9	7.9	8.6	7.1	6.2
Indexed 5-year government bonds			3.9	5.1	5.6	6.0	4.9	4.8	3.8	4.6	5.9	5.8	5.5	4.8	4.6
Real actual interest rates ^3/
	Nondirected credit		9.6	11.9	14.9	12.8	8.5	3.2	…	…	5.3	5.0	6.8	11.3	11.9
	In Israeli currency		11.0	6.9	14.9	12.9	8.5	3.2	3.2	2.9	5.3	5.0	6.8	11.3	11.9
		Overdraft facilities	12.9	8.9	17.5	15.8	11.8	6.6	6.6	6.6	9.0	8.2	9.9	14.4	14.5
		Fixed-term credit	9.3	5.6	13.4	11.6	7.3	2.0	2.2	1.7	4.0	3.9	5.6	10.2	11.0
Time deposits ^2/			5.7	2.2	9.9	8.6	4.7	-0.5	-0.5	-0.9	1.5	1.5	3.0	7.4	7.7
Three-month treasury bills			6.6	2.6	7.4	6.5	5.9	0.5	1.0	2.1	2.4	1.3	3.6	7.4	8.3
Indexed 5-year government bonds			3.9	5.1	5.6	6.0	4.9	4.8	3.8	4.6	5.9	5.8	5.5	4.8	4.6

Source: Data provided by the Bank of Israel.

^1/Includes directed credit and nondirected foreign currency linked credit.

^{^2/}Average for all time deposits, overdrafts, and the rate on certificates of deposit.

^{^3/}Nominal rate deflated by consumer price index. In the case of quarterly data, the rate of inflation used is the annualized quarterly rate.

Table 18.

Israel: Reserve Requirements on Deposits and Interest Brackets, 1994-2003

Source: Bank of Israel.

Table 18.

Israel: Reserve Requirements on Deposits and Interest Brackets, 1994-2003

		Demand Deposits	Time Deposits
			(In percent) (November 2, 1991 to December 28, 1994)
			1-6 days	1 week-3 months	Over 3 months
Reserve requirement
	Domestic holdings	8	8	6	4
	Foreign holdings
Percentage of reserve requirement
	on which interest is paid by the Bank of Israel	0	0	33.3	50
			(from December 29, 1994)
			1-6 days	1 week-1 year	Over 1 year
Reserve requirement		6	6	3	0
	Domestic holdings	6	6	3	0
	Foreign holdings	6	6	3	0
Percentage of reserve requirement
	on which interest is paid by the Bank of Israel	0	0	0	0

Source: Bank of Israel.

Table 18.

Israel: Reserve Requirements on Deposits and Interest Brackets, 1994-2003

		Demand Deposits	Time Deposits
			(In percent) (November 2, 1991 to December 28, 1994)
			1-6 days	1 week-3 months	Over 3 months
Reserve requirement
	Domestic holdings	8	8	6	4
	Foreign holdings
Percentage of reserve requirement
	on which interest is paid by the Bank of Israel	0	0	33.3	50
			(from December 29, 1994)
			1-6 days	1 week-1 year	Over 1 year
Reserve requirement		6	6	3	0
	Domestic holdings	6	6	3	0
	Foreign holdings	6	6	3	0
Percentage of reserve requirement
	on which interest is paid by the Bank of Israel	0	0	0	0

Source: Bank of Israel.

Table 19.

The Israeli Capital Market, 2002

Source: Bank of Israel, Research Department.

^{^1/}Excluding double counting and government-owned quoted companies.

^{^2/}Excluding securities held by the Bank of Israel.

^{^3/}Adjusted for provident fund and non-residents’ holdings in mutual funds.

Table 19.

The Israeli Capital Market, 2002

		Total	Shares ^1/	Tradable Bonds ^2/	Indexed Earmarked Bonds	Treasury Bills ^2/	Other Assets Held by Institutions
		(In billions of new sheqalim; end of period)
Institutions
	Provident funds	167.6	19.5	80.4	9.4	1.7	56.6
	Old pension funds	121.8	…	0.0	116.1	…	5.4
	New pension funds	14.0	…	2.4	10.0	…	1.6
	Life insurance	86.8	5.2	23.1	31.9	…	26.5
	Mutual funds ^3/	46.6	4.7	21.7	…	9.7	10.5
Households and firms		138.2	78.4	38.6	…	21.2	…
Nonresidents		49.6	49.2	0.2	…	…	…
Banks		47.7	…	36.1	…	11.7	…
Total		672.3	157.2	202.5	167.5	44.4	100.7
		Real change (in percent)
Institutions
	Provident funds	-8.7	-25.5	-6.0	-2.3	-1.8	-6.4
	Old pension funds	4.3	…	-35.2	2.6	…	67.8
	New pension funds	23.7	…	8.4	33.2	…	0.0
	Life insurance	3.6	-14.3	37.2	5.1	…	-13.0
	Mutual funds ^3/	-30.6	-40.3	-27.7	…	-40.7	-18.5
Households and firms		-5.4	-23.7	16.1	…	111.2	…
Non-residents		-12.4	-12.8	117.3	…	…	…
Banks		-12.4	-12.8	117.3	…	…	…
Total		-5.0	-21.2	1.0	4.2	16.7	-7.4
Real change in price (in percent)		-7.3	-16.2	-8.8	-0.1	…	-0.1
Real change in quantity (in percent)		2.5	-6.0	10.8	4.3	16.7	-7.3

Source: Bank of Israel, Research Department.

^{^1/}Excluding double counting and government-owned quoted companies.

^{^2/}Excluding securities held by the Bank of Israel.

^{^3/}Adjusted for provident fund and non-residents’ holdings in mutual funds.

Table 19.

The Israeli Capital Market, 2002

		Total	Shares ^1/	Tradable Bonds ^2/	Indexed Earmarked Bonds	Treasury Bills ^2/	Other Assets Held by Institutions
		(In billions of new sheqalim; end of period)
Institutions
	Provident funds	167.6	19.5	80.4	9.4	1.7	56.6
	Old pension funds	121.8	…	0.0	116.1	…	5.4
	New pension funds	14.0	…	2.4	10.0	…	1.6
	Life insurance	86.8	5.2	23.1	31.9	…	26.5
	Mutual funds ^3/	46.6	4.7	21.7	…	9.7	10.5
Households and firms		138.2	78.4	38.6	…	21.2	…
Nonresidents		49.6	49.2	0.2	…	…	…
Banks		47.7	…	36.1	…	11.7	…
Total		672.3	157.2	202.5	167.5	44.4	100.7
		Real change (in percent)
Institutions
	Provident funds	-8.7	-25.5	-6.0	-2.3	-1.8	-6.4
	Old pension funds	4.3	…	-35.2	2.6	…	67.8
	New pension funds	23.7	…	8.4	33.2	…	0.0
	Life insurance	3.6	-14.3	37.2	5.1	…	-13.0
	Mutual funds ^3/	-30.6	-40.3	-27.7	…	-40.7	-18.5
Households and firms		-5.4	-23.7	16.1	…	111.2	…
Non-residents		-12.4	-12.8	117.3	…	…	…
Banks		-12.4	-12.8	117.3	…	…	…
Total		-5.0	-21.2	1.0	4.2	16.7	-7.4
Real change in price (in percent)		-7.3	-16.2	-8.8	-0.1	…	-0.1
Real change in quantity (in percent)		2.5	-6.0	10.8	4.3	16.7	-7.3

Source: Bank of Israel, Research Department.

^{^1/}Excluding double counting and government-owned quoted companies.

^{^2/}Excluding securities held by the Bank of Israel.

^{^3/}Adjusted for provident fund and non-residents’ holdings in mutual funds.

Table 20.

Israel: Prinicipal Stock Market Indicators, 1997-2002

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}Shares, convertible securities, and exercised options.

^{^2/}Market value end-of-year figures; volume of trade-on and off.

^{^3/}Ratio of monthly volume of trade to average monthly market value of stock market.

Table 20.

Israel: Prinicipal Stock Market Indicators, 1997-2002

	1997	1998	1999	2000	2001	2002
	(In millions of constant 1996 new sheqalim; unless otherwise indicated)
Private sector stock offering excluding privitizations ^1/ ^2/	5,932	5,690	2,303	5,100	2,612	1,549
Market value ^2/	153,177	146,430	230,503	229,099	220,357	158,466
Volume of trade on stock exchange ^2/	46,134	48,889	74,105	98,177	54,107	47,291
Annual turnover ratio ^3/	0.32	0.33	0.40	0.40	0.29	0.27
Real overal rate of return on all shares	27.2%	-5.3%	63.5%	0.5%	-8.2%	-25.0%

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}Shares, convertible securities, and exercised options.

^{^2/}Market value end-of-year figures; volume of trade-on and off.

^{^3/}Ratio of monthly volume of trade to average monthly market value of stock market.

Table 20.

Israel: Prinicipal Stock Market Indicators, 1997-2002

	1997	1998	1999	2000	2001	2002
	(In millions of constant 1996 new sheqalim; unless otherwise indicated)
Private sector stock offering excluding privitizations ^1/ ^2/	5,932	5,690	2,303	5,100	2,612	1,549
Market value ^2/	153,177	146,430	230,503	229,099	220,357	158,466
Volume of trade on stock exchange ^2/	46,134	48,889	74,105	98,177	54,107	47,291
Annual turnover ratio ^3/	0.32	0.33	0.40	0.40	0.29	0.27
Real overal rate of return on all shares	27.2%	-5.3%	63.5%	0.5%	-8.2%	-25.0%

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}Shares, convertible securities, and exercised options.

^{^2/}Market value end-of-year figures; volume of trade-on and off.

^{^3/}Ratio of monthly volume of trade to average monthly market value of stock market.

Table 21.

Israel: Principal Bond Market Indicators, 1997-2002

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}Including public sector corporations.

^{^2/}Ratio of the central bank’s sales and purchases in the secondary market to total volume of stock exchange trade in bonds.

^{^3/}Ratio of monthly volume of trade to average monthly market value of bonds.

^{^4/}Real overall rate of return refers to total return (including coupon), less taxable profits.

Table 21.

Israel: Principal Bond Market Indicators, 1997-2002

				1997	1998	1999	2000	2001	2002
				(In millions of constant 1996 new sheqalim; unless otherwise indicated)
Market value of listed bonds
	Government			125,977	125,821	131,650	133,544	146,390	155,851
	Corporate			9,328	9,706	9,858	8,627	9,986	11,699
	Total			135,305	135,528	141,508	142,171	156,376	167,549
	Of which:
		Percentage held by:
			Public	26.77	23.98	23.38	17.43	27.76	29.75
			Commerical banks	23.41	24.40	23.24	27.19	17.38	18.57
			Provident and Pension Fund	41.46	41.67	42.38	43.23	42.47	39.68
			Bank of Israel	3.54	3.50	3.62	3.92	3.51	2.82
Volume of stock exchange trade
	Government			22,339	31,625	40,805	46,439	77,215	126,822
	Corporate bonds ^1/			730	752	751	667	867	1,490
	Total			23,069	32,378	41,557	47,106	78,082	128,313
	Bank of Israel operations ^2/ (in percent)			1.34	1.06	1.25	1.13	0.45	0.07
Net issues of tradable bonds
(issues less redemptions)
	Government			-5,173	-1,973	-1,603	-7,183	2,175	1,588
	Corporate ^1/			-2,330	-1,001	-118	-770	1,416	1,009
	Total			-7,503	-2,974	-1,721	-7,953	3,591	2,598
Annual turnover ^3/
	Government			0.18	0.27	0.32	0.35	0.61	0.85
	Corporate ^1/			0.08	0.09	0.08	0.07	0.10	0.14
	Total			0.17	0.25	0.31	0.33	0.57	0.80
Real overall rate of return ^4/
	CPI-indexed bonds			4.1%	-1.2%	3.4%	2.1%	13.5%	-5.3%
	Exchange-rate indexed bonds			6.1%	12.0%	2.6%	3.0%	11.0%	1.5%
	Nominal bonds			8.8%	2.7%	12.2%	12.0%	8.5%	-8.3%

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}Including public sector corporations.

^{^2/}Ratio of the central bank’s sales and purchases in the secondary market to total volume of stock exchange trade in bonds.

^{^3/}Ratio of monthly volume of trade to average monthly market value of bonds.

^{^4/}Real overall rate of return refers to total return (including coupon), less taxable profits.

Table 21.

Israel: Principal Bond Market Indicators, 1997-2002

				1997	1998	1999	2000	2001	2002
				(In millions of constant 1996 new sheqalim; unless otherwise indicated)
Market value of listed bonds
	Government			125,977	125,821	131,650	133,544	146,390	155,851
	Corporate			9,328	9,706	9,858	8,627	9,986	11,699
	Total			135,305	135,528	141,508	142,171	156,376	167,549
	Of which:
		Percentage held by:
			Public	26.77	23.98	23.38	17.43	27.76	29.75
			Commerical banks	23.41	24.40	23.24	27.19	17.38	18.57
			Provident and Pension Fund	41.46	41.67	42.38	43.23	42.47	39.68
			Bank of Israel	3.54	3.50	3.62	3.92	3.51	2.82
Volume of stock exchange trade
	Government			22,339	31,625	40,805	46,439	77,215	126,822
	Corporate bonds ^1/			730	752	751	667	867	1,490
	Total			23,069	32,378	41,557	47,106	78,082	128,313
	Bank of Israel operations ^2/ (in percent)			1.34	1.06	1.25	1.13	0.45	0.07
Net issues of tradable bonds
(issues less redemptions)
	Government			-5,173	-1,973	-1,603	-7,183	2,175	1,588
	Corporate ^1/			-2,330	-1,001	-118	-770	1,416	1,009
	Total			-7,503	-2,974	-1,721	-7,953	3,591	2,598
Annual turnover ^3/
	Government			0.18	0.27	0.32	0.35	0.61	0.85
	Corporate ^1/			0.08	0.09	0.08	0.07	0.10	0.14
	Total			0.17	0.25	0.31	0.33	0.57	0.80
Real overall rate of return ^4/
	CPI-indexed bonds			4.1%	-1.2%	3.4%	2.1%	13.5%	-5.3%
	Exchange-rate indexed bonds			6.1%	12.0%	2.6%	3.0%	11.0%	1.5%
	Nominal bonds			8.8%	2.7%	12.2%	12.0%	8.5%	-8.3%

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}Including public sector corporations.

^{^2/}Ratio of the central bank’s sales and purchases in the secondary market to total volume of stock exchange trade in bonds.

^{^3/}Ratio of monthly volume of trade to average monthly market value of bonds.

^{^4/}Real overall rate of return refers to total return (including coupon), less taxable profits.

Table 22.

Israel: Institutional Investor Indicators, 1997-2002

Sources: Data provided by the Bank of Israel; and Central Bureau of Statistics.

Table 22.

Israel: Institutional Investor Indicators, 1997-2002

			1997	1998	1999	2000	2001	2002
Mutual funds
	Total assets (in NIS millions)		20,358	22,893	35,917	45,833	63,012	44,084
	Growth rate of total assets (in percent)		54.4	12.5	56.9	27.6	37.5	-30.0
	Real annual rate of return (in percent)		15.6	1.4	23.5	4.4	…	…
	Percent of total tradable assets:
		Bonds	0.1	0.1	0.1	0.1	…	…
		Stocks	0.1	0.0	0.0	0.0	…	…
Provident funds
	Total assets (in NIS billions)		120.0	120.0	132.0	136.0	…	…
	Growth rate of total assets (in percent)		9.1	0.0	10.0	3.0	…	…
	Real annual rate of return (in percent)		6.7	1.2	8.6	3.0	…	…
	Percent of total tradable assets:
		Tradable government bonds	39.7	39.6	40.0	41.1	…	…
		Corporate bonds	61.3	62.5	63.4	54.4	…	…
		Stock	9.7	10.1	9.2	9.5	…	…
		Treasury bills	24.3	16.8	12.0	17.1	…	…
Pension funds’ assets (in NIS billions)			84	85	91	95	…	…

Sources: Data provided by the Bank of Israel; and Central Bureau of Statistics.

Table 22.

Israel: Institutional Investor Indicators, 1997-2002

			1997	1998	1999	2000	2001	2002
Mutual funds
	Total assets (in NIS millions)		20,358	22,893	35,917	45,833	63,012	44,084
	Growth rate of total assets (in percent)		54.4	12.5	56.9	27.6	37.5	-30.0
	Real annual rate of return (in percent)		15.6	1.4	23.5	4.4	…	…
	Percent of total tradable assets:
		Bonds	0.1	0.1	0.1	0.1	…	…
		Stocks	0.1	0.0	0.0	0.0	…	…
Provident funds
	Total assets (in NIS billions)		120.0	120.0	132.0	136.0	…	…
	Growth rate of total assets (in percent)		9.1	0.0	10.0	3.0	…	…
	Real annual rate of return (in percent)		6.7	1.2	8.6	3.0	…	…
	Percent of total tradable assets:
		Tradable government bonds	39.7	39.6	40.0	41.1	…	…
		Corporate bonds	61.3	62.5	63.4	54.4	…	…
		Stock	9.7	10.1	9.2	9.5	…	…
		Treasury bills	24.3	16.8	12.0	17.1	…	…
Pension funds’ assets (in NIS billions)			84	85	91	95	…	…

Sources: Data provided by the Bank of Israel; and Central Bureau of Statistics.

Table 23.

Israel: State Budget Balance and Financing, 1999-2003

Source: Data provided by the Ministry of Finance.

Table 23.

Israel: State Budget Balance and Financing, 1999-2003

					1999	1999	2000	2000	2001	2001	2002	2003
					Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
					(In millions of new sheqalim)
Total revenue					158,248	153,496	165,757	172,393	181,135	167,958	185,497	192,239
Total expenditure					178,056	175,012	188,927	187,218	201,001	198,715	212,428	220,903
	Budget balance before foreign grants				-19,808	-21,516	-23,170	-14,825	-19,866	-30,757	-26,931	-28,664
Foreign grants					11,808	11,049	12,260	11,588	11,466	9,755	12,281	13,464
	Budget balance after foreign grants				-8,000	-10,467	-10,910	-3,237	-8,400	-21,002	-14,650	-15,200
Total financing					8,000	10,467	10,910	3,237	8,400	21,002	14,650	15,200
	Foreign (net)				884	-281	1,695	-751	0	-2,918	-1,000	0
		Gross			9,676	6,728	10,076	5,707	10,259	5,950	9,287	16,859
		Repayment			8,792	7,008	8,381	6,457	10,259	8,868	10,287	16,859
	Domestic (net)				7,116	11,039	9,215	4,318	8,400	17,436	15,650	15,200
		Nonbank borrowing (net)			2,623	7,463	5,244	-409	3,302	16,762	13,361	13,837
			Gross		32,495	38,442	38,442	31,591	44,335	52,717	47,567	52,150
			Repayment		29,872	30,979	33,198	32,000	41,033	35,954	34,206	38,313
		Bank of Israel credit (net)			0	-291	0	-330	0	6,484	0	0
		Sale of assets			4,590	2,122	3,500	2,889	3,000	172	1,500	1,500
		Lending (net) (-)			-97	1,455	471	1,837	2,098	501	789	-137
			Gross (-)		-5,244	-3,715	-5,249	-3,657	-4,586	-3,636	-5,002	-5,074
				Of which: housing (-)	-4,194	-3,153	-4,346	-2,940	-3,708	-3,136	-3,901	-4,115
			Repayment		5,147	5,170	5,720	5,495	6,684	4,137	5,791	4,937
		Residual			…	…	…	…	…	…	…	…
Memorandum items:
	Primary balance				12,296	11,662	11,939	21,553	17,458	3,990	11,547	15,441
	Current balance				8,581	-3,322	3,249	4,533	6,561	-12,733	-737	-27
	Domestic balance				-5,985	-8,023	-7,494	-2,505	-2,507	-16,918	-12,984	-11,558
	Foreign balance				-2,015	-2,444	-3,416	-732	-5,893	-4,084	-1,666	-3,642
					(In percent of GDP)
Total revenue					37.1	36.0	35.7	37.1	38.5	35.7	38.4	39.8
Total expenditure					41.7	41.0	40.7	40.3	42.8	42.3	44.0	45.7
	Budget balance before foreign grants				-4.6	-5.0	-5.0	-3.2	-4.2	-6.5	-5.6	-5.9
Foreign grants					2.8	2.6	2.6	2.5	2.4	2.1	2.5	2.8
	Budget balance after foreign grants				-1.9	-2.5	-2.3	-0.7	-1.8	-4.5	-3.0	-3.1
Total financing					1.9	2.5	2.3	0.7	1.8	4.5	3.0	3.1
	Foreign (net)				0.2	-0.1	0.4	-0.2	0.0	-0.6	-0.2	0.0
		Gross			2.3	1.6	2.2	1.2	2.2	1.3	1.9	3.5
		Repayment			2.1	1.6	1.8	1.4	2.2	1.9	2.1	3.5
	Domestic (net)				1.7	2.6	2.0	0.9	1.8	3.7	3.2	3.1
		Nonbank borrowing (net)			0.6	1.7	1.1	-0.1	0.7	3.6	2.8	2.9
			Gross		7.6	9.0	8.3	6.8	9.4	11.2	9.8	10.8
			Repayment		7.0	7.3	7.1	6.9	8.7	7.6	7.1	7.9
		Bank of Israel credit (net)			0.0	-0.1	0.0	-0.1	0.0	1.4	0.0	0.0
		Sale of assets			1.1	0.5	0.8	0.6	0.6	0.0	0.3	0.3
		Lending (net) (-)			0.0	0.3	0.1	0.4	0.4	0.1	0.2	0.0
			Gross (-)		-1.2	-0.9	-1.1	-0.8	-1.0	-0.8	-1.0	-1.0
				Of which: housing (-)	-1.0	-0.7	-0.9	-0.6	-0.8	-0.7	-0.8	-0.9
			Repayment		1.2	1.2	1.2	1.2	1.4	0.9	1.2	1.0
Memorandum items:
	Primary balance				2.9	2.7	2.6	4.6	3.7	0.8	2.4	3.2
	Current balance				2.0	-0.8	0.7	1.0	1.4	-2.7	-0.2	0.0
	Domestic balance				-1.4	-1.9	-1.6	-0.5	-0.5	-3.6	-2.7	-2.4
	Foreign balance				-0.5	-0.6	-0.7	-0.2	-1.3	-0.9	-0.3	-0.8

Source: Data provided by the Ministry of Finance.

Table 23.

Israel: State Budget Balance and Financing, 1999-2003

					1999	1999	2000	2000	2001	2001	2002	2003
					Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
					(In millions of new sheqalim)
Total revenue					158,248	153,496	165,757	172,393	181,135	167,958	185,497	192,239
Total expenditure					178,056	175,012	188,927	187,218	201,001	198,715	212,428	220,903
	Budget balance before foreign grants				-19,808	-21,516	-23,170	-14,825	-19,866	-30,757	-26,931	-28,664
Foreign grants					11,808	11,049	12,260	11,588	11,466	9,755	12,281	13,464
	Budget balance after foreign grants				-8,000	-10,467	-10,910	-3,237	-8,400	-21,002	-14,650	-15,200
Total financing					8,000	10,467	10,910	3,237	8,400	21,002	14,650	15,200
	Foreign (net)				884	-281	1,695	-751	0	-2,918	-1,000	0
		Gross			9,676	6,728	10,076	5,707	10,259	5,950	9,287	16,859
		Repayment			8,792	7,008	8,381	6,457	10,259	8,868	10,287	16,859
	Domestic (net)				7,116	11,039	9,215	4,318	8,400	17,436	15,650	15,200
		Nonbank borrowing (net)			2,623	7,463	5,244	-409	3,302	16,762	13,361	13,837
			Gross		32,495	38,442	38,442	31,591	44,335	52,717	47,567	52,150
			Repayment		29,872	30,979	33,198	32,000	41,033	35,954	34,206	38,313
		Bank of Israel credit (net)			0	-291	0	-330	0	6,484	0	0
		Sale of assets			4,590	2,122	3,500	2,889	3,000	172	1,500	1,500
		Lending (net) (-)			-97	1,455	471	1,837	2,098	501	789	-137
			Gross (-)		-5,244	-3,715	-5,249	-3,657	-4,586	-3,636	-5,002	-5,074
				Of which: housing (-)	-4,194	-3,153	-4,346	-2,940	-3,708	-3,136	-3,901	-4,115
			Repayment		5,147	5,170	5,720	5,495	6,684	4,137	5,791	4,937
		Residual			…	…	…	…	…	…	…	…
Memorandum items:
	Primary balance				12,296	11,662	11,939	21,553	17,458	3,990	11,547	15,441
	Current balance				8,581	-3,322	3,249	4,533	6,561	-12,733	-737	-27
	Domestic balance				-5,985	-8,023	-7,494	-2,505	-2,507	-16,918	-12,984	-11,558
	Foreign balance				-2,015	-2,444	-3,416	-732	-5,893	-4,084	-1,666	-3,642
					(In percent of GDP)
Total revenue					37.1	36.0	35.7	37.1	38.5	35.7	38.4	39.8
Total expenditure					41.7	41.0	40.7	40.3	42.8	42.3	44.0	45.7
	Budget balance before foreign grants				-4.6	-5.0	-5.0	-3.2	-4.2	-6.5	-5.6	-5.9
Foreign grants					2.8	2.6	2.6	2.5	2.4	2.1	2.5	2.8
	Budget balance after foreign grants				-1.9	-2.5	-2.3	-0.7	-1.8	-4.5	-3.0	-3.1
Total financing					1.9	2.5	2.3	0.7	1.8	4.5	3.0	3.1
	Foreign (net)				0.2	-0.1	0.4	-0.2	0.0	-0.6	-0.2	0.0
		Gross			2.3	1.6	2.2	1.2	2.2	1.3	1.9	3.5
		Repayment			2.1	1.6	1.8	1.4	2.2	1.9	2.1	3.5
	Domestic (net)				1.7	2.6	2.0	0.9	1.8	3.7	3.2	3.1
		Nonbank borrowing (net)			0.6	1.7	1.1	-0.1	0.7	3.6	2.8	2.9
			Gross		7.6	9.0	8.3	6.8	9.4	11.2	9.8	10.8
			Repayment		7.0	7.3	7.1	6.9	8.7	7.6	7.1	7.9
		Bank of Israel credit (net)			0.0	-0.1	0.0	-0.1	0.0	1.4	0.0	0.0
		Sale of assets			1.1	0.5	0.8	0.6	0.6	0.0	0.3	0.3
		Lending (net) (-)			0.0	0.3	0.1	0.4	0.4	0.1	0.2	0.0
			Gross (-)		-1.2	-0.9	-1.1	-0.8	-1.0	-0.8	-1.0	-1.0
				Of which: housing (-)	-1.0	-0.7	-0.9	-0.6	-0.8	-0.7	-0.8	-0.9
			Repayment		1.2	1.2	1.2	1.2	1.4	0.9	1.2	1.0
Memorandum items:
	Primary balance				2.9	2.7	2.6	4.6	3.7	0.8	2.4	3.2
	Current balance				2.0	-0.8	0.7	1.0	1.4	-2.7	-0.2	0.0
	Domestic balance				-1.4	-1.9	-1.6	-0.5	-0.5	-3.6	-2.7	-2.4
	Foreign balance				-0.5	-0.6	-0.7	-0.2	-1.3	-0.9	-0.3	-0.8

Source: Data provided by the Ministry of Finance.

Table 24.

Israel: State Budget Revenue, 1999-2003

Sources: Data provided by the Ministry of Finance.

Table 24.

Israel: State Budget Revenue, 1999-2003

				1999	1999	2000	2000	2001	2001	2002	2003
				Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
				(In millions of new sheqalim)
Total tax revenue				126,450	125,008	132,850	143,635	149,620	143,794	151,030	155,186
	Taxes on income and profits			60,731	60,471	62,160	75,589	73,300	76,111	76,250	72,720
		Companies		13,100	13,724	14,000	22,536	19,100	19,138	18,500	17,240
		Individuals		47,631	46,748	48,160	53,054	54,200	56,973	57,750	55,480
			Wage & salary	39,381	37,911	39,110	42,268	44,283	46,649	47,450	45,170
			Self-employed	8,250	8,837	9,050	10,786	9,917	10,324	10,300	10,310
	Payroll tax (nonprofit)			1,130	1,286	1,240	1,271	1,700	1,209	1,750	1,690
	Taxes on property			3,230	3,773	3,740	3,836	3,850	2,990	2,750	2,840
		Real-estate purchase tax		1,460	1,647	2,130	2,003	2,500	1,701	1,600	1,400
		Land betterment tax		970	1,005	1,240	1,334	1,300	1,081	1,000	1,140
		Property tax		800	1,121	370	500	50	207	150	300
	Taxes on goods and services			61,359	59,478	65,710	62,939	70,770	63,484	70,280	77,936
		VAT		44,209	41,463	46,620	43,849	51,170	45,452	51,480	57,036
			Domestic expenditure & civilian imports	36,869	36,414	38,870	38,515	42,600	39,373	42,500	47,300
			Nonprofit entities	5,050	3,234	5,400	3,433	6,050	3,147	6,000	6,310
			Financial institutions	1,380	925	1,190	759	1,400	1,520	1,700	1,740
			Defense imports	910	890	1,160	1,142	1,120	1,412	1,280	1,686
		Excises		7,360	7,379	8,440	7,597	8,200	7,472	7,800	9,440
			Fuel	5,650	5,661	6,570	5,666	6,100	5,701	5,950	7,310
			Tobacco	910	858	1,010	929	950	900	950	1,150
			Stamp	800	860	860	1,003	1,150	871	900	980
		Purchase tax		8,610	9,291	9,310	10,072	9,800	9,204	9,600	10,020
			Domestic	810	805	860	662	800	384	400	450
			Imports	7,800	8,486	8,450	9,409	9,000	8,819	9,200	9,570
		Customs duties		1,180	1,345	1,340	1,421	1,600	1,357	1,400	1,440
	Adjustment to budget frame			0	0	0	0	0		0
Total nontax revenue				31,798	28,488	32,907	28,757	31,515	24,164	34,467	37,053
	Interest			3,540	2,801	3,490	2,957	2,711	2,914	2,760	2,609
		Domestic		2,828	2,518	2,660	2,570	2,566	2,350	2,613	2,433
		Foreign		712	283	830	387	146	564	147	176
	Loans from National Insurance Institute			6,320	5,850	5,490	7,120	6,834	4,100	9,687	12,644
	Fees, royalties, pension provisions, & misc.			12,571	10,559	13,223	6,697	8,748	6,654	8,917	7,623
	Income from Israel Land Administration			1,201	1,383	1,050	1,459	1,105	277	788	1,151
	Revenue for revenue-dependent expenditure			8,167	7,896	9,654	10,524	12,117	10,219	12,316	13,026
Total revenue				158,248	153,496	165,757	172,393	181,135	167,958	185,497	192,239
	Foreign grants			11,808	11,049	12,260	11,588	11,466	9,755	12,281	13,464
Total revenue and grants				170,056	164,545	178,017	183,981	192,601	177,713	197,778	205,703
Memorandum items:
	Domestic revenue			155,990	152,323	163,131	170,864	179,869	165,973	179,652	185,070
	Foreign revenue and grants			14,066	12,222	14,886	13,117	12,732	11,740	18,126	20,633
				(In percent of GDP)
	Total tax revenue			29.6	26.9	28.6	30.6	31.8	29.8	31.3	32.1
		Taxes on income and profits		14.2	13.0	13.4	16.1	15.6	15.7	15.8	15.0
			Companies	3.1	3.0	3.0	4.8	4.1	4.0	3.8	3.6
			Individuals	11.2	10.1	10.4	11.3	11.5	11.8	11.9	11.5
		Payroll tax (nonprofit)		0.3	0.3	0.3	0.3	0.4	0.3	0.4	0.3
		Taxes on property		0.8	0.8	0.8	0.8	0.8	0.6	0.6	0.6
		Taxes on goods and services		14.4	12.8	14.1	13.4	15.1	13.1	14.5	16.1
			VAT	10.4	8.9	10.0	9.3	10.9	9.4	10.7	11.8
			Excises	1.7	1.6	1.8	1.6	1.7	1.5	1.6	2.0
			Purchase tax	2.0	2.0	2.0	2.1	2.1	1.9	2.0	2.1
			Customs duties	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
		Adjustment to budget frame		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Total nontax revenue			7.4	6.1	7.1	6.1	6.7	5.0	7.1	7.7
Total revenue				37.1	33.1	35.7	36.7	38.5	34.8	38.4	39.8
	Foreign grants			2.8	2.4	2.6	2.5	2.4	2.0	2.5	2.8
Total revenue and grants				39.8	35.4	38.3	39.1	41.0	36.8	40.9	42.6
Memorandum items:
	Domestic revenue			36.5	32.8	35.1	36.3	38.3	34.3	37.2	38.3
	Foreign revenue and grants			3.3	2.6	3.2	2.8	2.7	2.4	3.8	4.3

Sources: Data provided by the Ministry of Finance.

Table 24.

Israel: State Budget Revenue, 1999-2003

				1999	1999	2000	2000	2001	2001	2002	2003
				Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
				(In millions of new sheqalim)
Total tax revenue				126,450	125,008	132,850	143,635	149,620	143,794	151,030	155,186
	Taxes on income and profits			60,731	60,471	62,160	75,589	73,300	76,111	76,250	72,720
		Companies		13,100	13,724	14,000	22,536	19,100	19,138	18,500	17,240
		Individuals		47,631	46,748	48,160	53,054	54,200	56,973	57,750	55,480
			Wage & salary	39,381	37,911	39,110	42,268	44,283	46,649	47,450	45,170
			Self-employed	8,250	8,837	9,050	10,786	9,917	10,324	10,300	10,310
	Payroll tax (nonprofit)			1,130	1,286	1,240	1,271	1,700	1,209	1,750	1,690
	Taxes on property			3,230	3,773	3,740	3,836	3,850	2,990	2,750	2,840
		Real-estate purchase tax		1,460	1,647	2,130	2,003	2,500	1,701	1,600	1,400
		Land betterment tax		970	1,005	1,240	1,334	1,300	1,081	1,000	1,140
		Property tax		800	1,121	370	500	50	207	150	300
	Taxes on goods and services			61,359	59,478	65,710	62,939	70,770	63,484	70,280	77,936
		VAT		44,209	41,463	46,620	43,849	51,170	45,452	51,480	57,036
			Domestic expenditure & civilian imports	36,869	36,414	38,870	38,515	42,600	39,373	42,500	47,300
			Nonprofit entities	5,050	3,234	5,400	3,433	6,050	3,147	6,000	6,310
			Financial institutions	1,380	925	1,190	759	1,400	1,520	1,700	1,740
			Defense imports	910	890	1,160	1,142	1,120	1,412	1,280	1,686
		Excises		7,360	7,379	8,440	7,597	8,200	7,472	7,800	9,440
			Fuel	5,650	5,661	6,570	5,666	6,100	5,701	5,950	7,310
			Tobacco	910	858	1,010	929	950	900	950	1,150
			Stamp	800	860	860	1,003	1,150	871	900	980
		Purchase tax		8,610	9,291	9,310	10,072	9,800	9,204	9,600	10,020
			Domestic	810	805	860	662	800	384	400	450
			Imports	7,800	8,486	8,450	9,409	9,000	8,819	9,200	9,570
		Customs duties		1,180	1,345	1,340	1,421	1,600	1,357	1,400	1,440
	Adjustment to budget frame			0	0	0	0	0		0
Total nontax revenue				31,798	28,488	32,907	28,757	31,515	24,164	34,467	37,053
	Interest			3,540	2,801	3,490	2,957	2,711	2,914	2,760	2,609
		Domestic		2,828	2,518	2,660	2,570	2,566	2,350	2,613	2,433
		Foreign		712	283	830	387	146	564	147	176
	Loans from National Insurance Institute			6,320	5,850	5,490	7,120	6,834	4,100	9,687	12,644
	Fees, royalties, pension provisions, & misc.			12,571	10,559	13,223	6,697	8,748	6,654	8,917	7,623
	Income from Israel Land Administration			1,201	1,383	1,050	1,459	1,105	277	788	1,151
	Revenue for revenue-dependent expenditure			8,167	7,896	9,654	10,524	12,117	10,219	12,316	13,026
Total revenue				158,248	153,496	165,757	172,393	181,135	167,958	185,497	192,239
	Foreign grants			11,808	11,049	12,260	11,588	11,466	9,755	12,281	13,464
Total revenue and grants				170,056	164,545	178,017	183,981	192,601	177,713	197,778	205,703
Memorandum items:
	Domestic revenue			155,990	152,323	163,131	170,864	179,869	165,973	179,652	185,070
	Foreign revenue and grants			14,066	12,222	14,886	13,117	12,732	11,740	18,126	20,633
				(In percent of GDP)
	Total tax revenue			29.6	26.9	28.6	30.6	31.8	29.8	31.3	32.1
		Taxes on income and profits		14.2	13.0	13.4	16.1	15.6	15.7	15.8	15.0
			Companies	3.1	3.0	3.0	4.8	4.1	4.0	3.8	3.6
			Individuals	11.2	10.1	10.4	11.3	11.5	11.8	11.9	11.5
		Payroll tax (nonprofit)		0.3	0.3	0.3	0.3	0.4	0.3	0.4	0.3
		Taxes on property		0.8	0.8	0.8	0.8	0.8	0.6	0.6	0.6
		Taxes on goods and services		14.4	12.8	14.1	13.4	15.1	13.1	14.5	16.1
			VAT	10.4	8.9	10.0	9.3	10.9	9.4	10.7	11.8
			Excises	1.7	1.6	1.8	1.6	1.7	1.5	1.6	2.0
			Purchase tax	2.0	2.0	2.0	2.1	2.1	1.9	2.0	2.1
			Customs duties	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3
		Adjustment to budget frame		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Total nontax revenue			7.4	6.1	7.1	6.1	6.7	5.0	7.1	7.7
Total revenue				37.1	33.1	35.7	36.7	38.5	34.8	38.4	39.8
	Foreign grants			2.8	2.4	2.6	2.5	2.4	2.0	2.5	2.8
Total revenue and grants				39.8	35.4	38.3	39.1	41.0	36.8	40.9	42.6
Memorandum items:
	Domestic revenue			36.5	32.8	35.1	36.3	38.3	34.3	37.2	38.3
	Foreign revenue and grants			3.3	2.6	3.2	2.8	2.7	2.4	3.8	4.3

Sources: Data provided by the Ministry of Finance.

Table 25.

Israel: State Budget Expenditure (Economic Classification) 1999-2003

Source: Data provided by the Ministry of Finance.

Table 25.

Israel: State Budget Expenditure (Economic Classification) 1999-2003

				1999	1999	2000	2000	2001	2001	2002	2003
				Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
				(In millions of new sheqalim)
Current expenditure				161,761	167,870	174,810	179,448	186,057	190,442	198,524	205,737
	Wages			33,943	35,265	38,458	41,234	39,405	41,062	43,007	44,375
		Of which: defense		12,860	13,287	14,746	18,113	14,894	15,628	16,540	16,358
	Goods and services			33,230	34,643	36,914	38,230	40,841	43,340	43,364	45,981
		Of which: defense		21,072	22,422	22,782	24,738	26,172	29,031	27,980	29,567
	Interest			23,836	24,930	26,339	27,748	28,570	27,906	28,957	33,250
		Domestic		18,131	19,125	19,883	21,559	21,481	21,824	22,519	24,623
		Foreign		5,705	5,805	6,456	6,189	7,089	6,082	6,438	8,627
	Subsidies and transfers			66,011	68,283	68,004	67,316	71,837	72,905	77,169	75,959
		Subsidies		5,544	5,910	5,741	5,016	5,253	4,829	5,379	5,567
			Nonexport	1,448	1,636	1,842	1,532	1,881	1,711	2,132	2,312
			Export	0	0	0	0	0	0	0	0
			Investment grants	4,096	4,274	3,899	3,484	3,372	3,118	3,247	3,255
		Transfers		60,468	62,373	62,263	62,299	66,583	68,077	71,790	70,392
			To local authorities	9,059	9,708	8,891	9,803	9,752	10,645	10,096	10,011
			To National Insurance Institute	16,684	16,893	18,134	18,240	20,696	21,230	22,640	21,057
			To nonprofit institutions	32,118	32,071	33,765	32,926	34,658	34,128	37,148	37,404
			To defense	2,606	3,701	1,474	1,331	1,477	2,073	1,906	1,920
		Repayment to National Insurance Institute		4,741	4,749	5,095	4,921	5,404	5,229	6,028	6,172
	Capital expenditure			9,164	7,145	9,743	7,770	10,353	8,268	10,579	10,693
		Of which: housing		2,076	1,777	2,367	1,726	2,465	1,825	2,246	2,265
	Reserve			7,131	0	4,374	0	4,591	0	3,325	4,473
Total expenditure				178,056	175,016	188,927	187,218	201,001	198,710	212,428	220,903
Memorandum items:
	Domestic expenditure			161,975	160,346	170,625	173,369	182,377	182,886	192,636	196,628
	Foreign expenditure			16,081	14,670	18,302	13,849	18,625	15,824	19,792	24,275
				(In percent of GDP)
	Current expenditure			37.9	36.1	37.6	38.2	39.6	39.4	41.1	42.6
		Wages		8.0	7.6	8.3	8.8	8.4	8.5	8.9	9.2
		Goods and services		7.8	7.5	7.9	8.1	8.7	9.0	9.0	9.5
		Interest		5.6	5.4	5.7	5.9	6.1	5.8	6.0	6.9
			Domestic	4.2	4.1	4.3	4.6	4.6	4.5	4.7	5.1
			Foreign	1.3	1.2	1.4	1.3	1.5	1.3	1.3	1.8
		Subsidies and transfers		15.5	14.7	14.6	14.3	15.3	15.1	16.0	15.7
		Repayment to National Insurance Institute		1.1	1.0	1.1	1.0	1.1	1.1	1.2	1.3
	Capital expenditure			2.1	1.5	2.1	1.7	2.2	1.7	2.2	2.2
		Of which: housing		0.5	0.4	0.5	0.4	0.5	0.4	0.5	0.5
	Reserve			--	--	--	--	--	--	--	--
Total expenditure				41.7	37.7	40.7	39.8	42.8	41.1	44.0	45.7
Memorandum items:
	Domestic expenditure			37.9	34.5	36.7	36.9	38.8	37.8	39.9	40.7
	Foreign expenditure			3.8	3.2	3.9	2.9	4.0	3.3	4.1	5.0

Source: Data provided by the Ministry of Finance.

Table 25.

Israel: State Budget Expenditure (Economic Classification) 1999-2003

				1999	1999	2000	2000	2001	2001	2002	2003
				Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
				(In millions of new sheqalim)
Current expenditure				161,761	167,870	174,810	179,448	186,057	190,442	198,524	205,737
	Wages			33,943	35,265	38,458	41,234	39,405	41,062	43,007	44,375
		Of which: defense		12,860	13,287	14,746	18,113	14,894	15,628	16,540	16,358
	Goods and services			33,230	34,643	36,914	38,230	40,841	43,340	43,364	45,981
		Of which: defense		21,072	22,422	22,782	24,738	26,172	29,031	27,980	29,567
	Interest			23,836	24,930	26,339	27,748	28,570	27,906	28,957	33,250
		Domestic		18,131	19,125	19,883	21,559	21,481	21,824	22,519	24,623
		Foreign		5,705	5,805	6,456	6,189	7,089	6,082	6,438	8,627
	Subsidies and transfers			66,011	68,283	68,004	67,316	71,837	72,905	77,169	75,959
		Subsidies		5,544	5,910	5,741	5,016	5,253	4,829	5,379	5,567
			Nonexport	1,448	1,636	1,842	1,532	1,881	1,711	2,132	2,312
			Export	0	0	0	0	0	0	0	0
			Investment grants	4,096	4,274	3,899	3,484	3,372	3,118	3,247	3,255
		Transfers		60,468	62,373	62,263	62,299	66,583	68,077	71,790	70,392
			To local authorities	9,059	9,708	8,891	9,803	9,752	10,645	10,096	10,011
			To National Insurance Institute	16,684	16,893	18,134	18,240	20,696	21,230	22,640	21,057
			To nonprofit institutions	32,118	32,071	33,765	32,926	34,658	34,128	37,148	37,404
			To defense	2,606	3,701	1,474	1,331	1,477	2,073	1,906	1,920
		Repayment to National Insurance Institute		4,741	4,749	5,095	4,921	5,404	5,229	6,028	6,172
	Capital expenditure			9,164	7,145	9,743	7,770	10,353	8,268	10,579	10,693
		Of which: housing		2,076	1,777	2,367	1,726	2,465	1,825	2,246	2,265
	Reserve			7,131	0	4,374	0	4,591	0	3,325	4,473
Total expenditure				178,056	175,016	188,927	187,218	201,001	198,710	212,428	220,903
Memorandum items:
	Domestic expenditure			161,975	160,346	170,625	173,369	182,377	182,886	192,636	196,628
	Foreign expenditure			16,081	14,670	18,302	13,849	18,625	15,824	19,792	24,275
				(In percent of GDP)
	Current expenditure			37.9	36.1	37.6	38.2	39.6	39.4	41.1	42.6
		Wages		8.0	7.6	8.3	8.8	8.4	8.5	8.9	9.2
		Goods and services		7.8	7.5	7.9	8.1	8.7	9.0	9.0	9.5
		Interest		5.6	5.4	5.7	5.9	6.1	5.8	6.0	6.9
			Domestic	4.2	4.1	4.3	4.6	4.6	4.5	4.7	5.1
			Foreign	1.3	1.2	1.4	1.3	1.5	1.3	1.3	1.8
		Subsidies and transfers		15.5	14.7	14.6	14.3	15.3	15.1	16.0	15.7
		Repayment to National Insurance Institute		1.1	1.0	1.1	1.0	1.1	1.1	1.2	1.3
	Capital expenditure			2.1	1.5	2.1	1.7	2.2	1.7	2.2	2.2
		Of which: housing		0.5	0.4	0.5	0.4	0.5	0.4	0.5	0.5
	Reserve			--	--	--	--	--	--	--	--
Total expenditure				41.7	37.7	40.7	39.8	42.8	41.1	44.0	45.7
Memorandum items:
	Domestic expenditure			37.9	34.5	36.7	36.9	38.8	37.8	39.9	40.7
	Foreign expenditure			3.8	3.2	3.9	2.9	4.0	3.3	4.1	5.0

Source: Data provided by the Ministry of Finance.

Table 26.

Israel: State Budget Expenditure (Functional Classification), 1999-2003

Source: Data provided by the Ministry of Finance.

Table 26.

Israel: State Budget Expenditure (Functional Classification), 1999-2003

			1999	1999	2000	2000	2001	2001	2002	2003
			Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
			(In millions of new sheqalim)
General public service			15,731	15,708	17,674	17,390	18,967	18,766	20,188	22,480
	General administration		10,466	10,399	11,781	11,443	12,692	12,403	13,236	14,734
	Public order		5,265	5,309	5,893	5,947	6,274	6,363	6,952	7,745
Defense			36,426	39,210	39,138	43,534	41,989	45,940	45,771	46,979
Education			26,258	26,838	28,013	27,983	29,367	30,205	31,173	32,186
	Of which: Universities		4,782	4,850	5,250	5,287	5,319	5,111	5,600	5,862
Health			13,839	14,308	14,685	14,130	14,617	15,284	15,128	15,849
Labor and welfare			22,200	22,573	24,238	24,538	27,651	27,759	30,624	28,457
Other social services			14,188	12,846	15,039	12,780	14,449	13,309	14,964	14,585
	Of which: Housing		10,186	8,831	10,799	8,385	10,125	9,086	10,503	10,504
		Immigrant absorption	1,752	1,776	1,945	1,969	2,100	1,767	1,824	1,586
Economic services			12,115	10,603	12,826	10,965	12,737	10,989	13,677	13,507
	General		776	923	879	806	847	753	790	677
	Agricultural		1,257	1,123	1,321	1,236	1,358	1,342	1,174	1,230
	Manufacturing		4,039	4,021	3,926	3,616	3,387	3,169	3,602	3,242
	Water and energy		1,334	1,037	1,347	1,042	1,284	916	1,476	1,241
	Transport and communications		3,098	3,015	3,795	3,666	4,419	4,145	5,018	5,536
	Other		1,611	483	1,558	599	1,441	664	1,617	1,581
Unallocable and other functions			32,657	26,723	31,748	29,140	33,723	30,734	34,086	40,781
	Interest		23,836	24,930	26,339	27,748	28,570	27,906	28,957	33,250
	Interest and loan subsidy		29	43	41	48	39	44	24	39
	Subsidy for basic products		1,946	1,963	2,377	1,882	2,418	2,084	2,744	3,232
	Export market development		0	0	0	0	0	0	0	0
	General transfers		4,577	4,957	4,294	4,957	4,773	4,837	4,820	4,717
	Reserves		7,417	0	4,416	0	4,609	0	3,334	4,480
	Repayment of loans (-)		-5,147	-5,170	-5,720	-5,495	-6,684	-4,137	-5,791	-4,937
Total expenditure and net lending			173,413	168,808	183,361	180,460	193,499	192,985	205,611	214,822
			(Percent of GDP)
General public service			3.7	3.4	3.8	3.7	4.0	3.9	4.2	4.7
Defense			8.5	8.4	8.4	9.3	8.9	9.5	9.5	9.7
Education			6.2	5.8	6.0	6.0	6.2	6.2	6.5	6.7
Health			3.2	3.1	3.2	3.0	3.1	3.2	3.1	3.3
Labor and welfare			5.2	4.9	5.2	5.2	5.9	5.7	6.3	5.9
Other social services			3.3	2.8	3.2	2.7	3.1	2.8	3.1	3.0
	Of which: Housing		2.4	1.9	2.3	1.8	2.2	1.9	2.2	2.2
		Immigrant absorption	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.3
Economic services			2.8	2.3	2.8	2.3	2.7	2.3	2.8	2.8
Unallocable and other functions			7.7	5.8	6.8	6.2	7.2	6.4	7.1	8.4
	Interest		5.6	5.4	5.7	5.9	6.1	5.8	6.0	6.9
	Interest and loan subsidy		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Subsidy for basic products		0.5	0.4	0.5	0.4	0.5	0.4	0.6	0.7
	Export market development		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	General transfers		1.1	1.1	0.9	1.1	1.0	1.0	1.0	1.0
	Reserves		1.7	0.0	1.0	0.0	1.0	0.0	0.7	0.9
	Repayment of loans (-)		-1.2	-1.1	-1.2	-1.2	-1.4	-0.9	-1.2	-1.0
Total expenditure and net lending			40.6	36.3	39.5	38.4	41.2	39.9	42.5	44.4

Source: Data provided by the Ministry of Finance.

Table 26.

Israel: State Budget Expenditure (Functional Classification), 1999-2003

			1999	1999	2000	2000	2001	2001	2002	2003
			Budget	Outturn	Budget	Outturn	Budget	Outturn	Budget	Budget
			(In millions of new sheqalim)
General public service			15,731	15,708	17,674	17,390	18,967	18,766	20,188	22,480
	General administration		10,466	10,399	11,781	11,443	12,692	12,403	13,236	14,734
	Public order		5,265	5,309	5,893	5,947	6,274	6,363	6,952	7,745
Defense			36,426	39,210	39,138	43,534	41,989	45,940	45,771	46,979
Education			26,258	26,838	28,013	27,983	29,367	30,205	31,173	32,186
	Of which: Universities		4,782	4,850	5,250	5,287	5,319	5,111	5,600	5,862
Health			13,839	14,308	14,685	14,130	14,617	15,284	15,128	15,849
Labor and welfare			22,200	22,573	24,238	24,538	27,651	27,759	30,624	28,457
Other social services			14,188	12,846	15,039	12,780	14,449	13,309	14,964	14,585
	Of which: Housing		10,186	8,831	10,799	8,385	10,125	9,086	10,503	10,504
		Immigrant absorption	1,752	1,776	1,945	1,969	2,100	1,767	1,824	1,586
Economic services			12,115	10,603	12,826	10,965	12,737	10,989	13,677	13,507
	General		776	923	879	806	847	753	790	677
	Agricultural		1,257	1,123	1,321	1,236	1,358	1,342	1,174	1,230
	Manufacturing		4,039	4,021	3,926	3,616	3,387	3,169	3,602	3,242
	Water and energy		1,334	1,037	1,347	1,042	1,284	916	1,476	1,241
	Transport and communications		3,098	3,015	3,795	3,666	4,419	4,145	5,018	5,536
	Other		1,611	483	1,558	599	1,441	664	1,617	1,581
Unallocable and other functions			32,657	26,723	31,748	29,140	33,723	30,734	34,086	40,781
	Interest		23,836	24,930	26,339	27,748	28,570	27,906	28,957	33,250
	Interest and loan subsidy		29	43	41	48	39	44	24	39
	Subsidy for basic products		1,946	1,963	2,377	1,882	2,418	2,084	2,744	3,232
	Export market development		0	0	0	0	0	0	0	0
	General transfers		4,577	4,957	4,294	4,957	4,773	4,837	4,820	4,717
	Reserves		7,417	0	4,416	0	4,609	0	3,334	4,480
	Repayment of loans (-)		-5,147	-5,170	-5,720	-5,495	-6,684	-4,137	-5,791	-4,937
Total expenditure and net lending			173,413	168,808	183,361	180,460	193,499	192,985	205,611	214,822
			(Percent of GDP)
General public service			3.7	3.4	3.8	3.7	4.0	3.9	4.2	4.7
Defense			8.5	8.4	8.4	9.3	8.9	9.5	9.5	9.7
Education			6.2	5.8	6.0	6.0	6.2	6.2	6.5	6.7
Health			3.2	3.1	3.2	3.0	3.1	3.2	3.1	3.3
Labor and welfare			5.2	4.9	5.2	5.2	5.9	5.7	6.3	5.9
Other social services			3.3	2.8	3.2	2.7	3.1	2.8	3.1	3.0
	Of which: Housing		2.4	1.9	2.3	1.8	2.2	1.9	2.2	2.2
		Immigrant absorption	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.3
Economic services			2.8	2.3	2.8	2.3	2.7	2.3	2.8	2.8
Unallocable and other functions			7.7	5.8	6.8	6.2	7.2	6.4	7.1	8.4
	Interest		5.6	5.4	5.7	5.9	6.1	5.8	6.0	6.9
	Interest and loan subsidy		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Subsidy for basic products		0.5	0.4	0.5	0.4	0.5	0.4	0.6	0.7
	Export market development		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	General transfers		1.1	1.1	0.9	1.1	1.0	1.0	1.0	1.0
	Reserves		1.7	0.0	1.0	0.0	1.0	0.0	0.7	0.9
	Repayment of loans (-)		-1.2	-1.1	-1.2	-1.2	-1.4	-0.9	-1.2	-1.0
Total expenditure and net lending			40.6	36.3	39.5	38.4	41.2	39.9	42.5	44.4

Source: Data provided by the Ministry of Finance.

Table 27.

Israel: General Government Balance and Financing (National Accounts), 1997-2003

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}The finance figures relate only to the central government.

Table 27.

Israel: General Government Balance and Financing (National Accounts), 1997-2003

			1997	1998	1999	2000	2001	2002	2003
									Est.
			(In millions of new sheqalim)
Total receipts (including foreign receipts)			174,547	193,839	205,766	228,963	235,718	249,014	239,659
Total expenditure (including foreign expenditure)			190,692	208,271	223,606	239,026	255,019	271,249	271,475
	Overall balance		-16,145	-14,432	-17,840	-10,063	-19,301	-22,235	-31,816
Total financing ^1/			16,145	14,432	17,840	10,063	19,301	22,235	31,816
	Change in monetary base		3,671	241	3,927	312	4,364	1,437	3,567
	Foreign borrowing (net)		-1,562	-1,494	-281	-751	-2,918	-2,000	6,727
	Domestic borrowing (net)		7,687	11,610	12,766	7,605	17,683	22,398	21,252
		Through government (net)	784	3,995	7,463	-409	16,762	24,400	22,488
	Other		6,903	7,615	5,304	8,013	921	-2,002	-1,236
	Sale of assets		6,350	4,075	1,427	2,898	172	400	270
Memorandum items:
	Current balance (net saving)		-10,606	-10,314	-13,565	-7,249	-16,024	-19,421	-31,149
	Current balance + depreciation (gross saving)		-5,654	-4,725	-7,251	-538	-8,896	-11,425	-22,433
	Domestic balance		-20,188	-19,649	-22,668	-16,625	-25,046	-27,459	-35,577
	Foreign balance		4,043	5,217	4,828	6,562	5,744	5,224	3,761
GDP			356,055	393,104	429,542	468,144	474,043	491,260	495,360
			(In percent of GDP)
Total receipts (including foreign receipts)			49.0	49.3	47.9	48.9	49.7	50.7	48.4
Total expenditure (including foreign expenditure)			53.6	53.0	52.1	51.1	53.8	55.2	54.8
	Overall balance		-4.5	-3.7	-4.2	-2.1	-4.1	-4.5	-6.4
Total financing			4.5	3.7	4.2	2.1	4.1	4.5	6.4
	Change in monetary base		1.0	0.1	0.9	0.1	0.9	0.3	0.7
	Foreign borrowing (net)		-0.4	-0.4	-0.1	-0.2	-0.6	-0.4	1.4
	Domestic borrowing (net)		2.2	3.0	3.0	1.6	3.7	4.6	4.3
		Through government (net)	0.2	1.0	1.7	-0.1	3.5	5.0	4.5
		Through Bank of Israel (net)	1.9	1.9	1.2	1.7	0.2	-0.4	-0.2
	Sale of assets		1.8	1.0	0.3	0.6	0.0	0.1	0.1
Memorandum items:
	Current balance (net saving)		-3.0	-2.6	-3.2	-1.5	-3.4	-4.0	-6.3
	Current balance + depreciation (gross saving)		-1.6	-1.2	-1.7	-0.1	-1.9	-2.3	-4.5
	Domestic balance		-5.7	-5.0	-5.3	-3.6	-5.3	-5.6	-7.2
	Foreign balance		1.1	1.3	1.1	1.4	1.2	1.1	0.8

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}The finance figures relate only to the central government.

Table 27.

Israel: General Government Balance and Financing (National Accounts), 1997-2003

			1997	1998	1999	2000	2001	2002	2003
									Est.
			(In millions of new sheqalim)
Total receipts (including foreign receipts)			174,547	193,839	205,766	228,963	235,718	249,014	239,659
Total expenditure (including foreign expenditure)			190,692	208,271	223,606	239,026	255,019	271,249	271,475
	Overall balance		-16,145	-14,432	-17,840	-10,063	-19,301	-22,235	-31,816
Total financing ^1/			16,145	14,432	17,840	10,063	19,301	22,235	31,816
	Change in monetary base		3,671	241	3,927	312	4,364	1,437	3,567
	Foreign borrowing (net)		-1,562	-1,494	-281	-751	-2,918	-2,000	6,727
	Domestic borrowing (net)		7,687	11,610	12,766	7,605	17,683	22,398	21,252
		Through government (net)	784	3,995	7,463	-409	16,762	24,400	22,488
	Other		6,903	7,615	5,304	8,013	921	-2,002	-1,236
	Sale of assets		6,350	4,075	1,427	2,898	172	400	270
Memorandum items:
	Current balance (net saving)		-10,606	-10,314	-13,565	-7,249	-16,024	-19,421	-31,149
	Current balance + depreciation (gross saving)		-5,654	-4,725	-7,251	-538	-8,896	-11,425	-22,433
	Domestic balance		-20,188	-19,649	-22,668	-16,625	-25,046	-27,459	-35,577
	Foreign balance		4,043	5,217	4,828	6,562	5,744	5,224	3,761
GDP			356,055	393,104	429,542	468,144	474,043	491,260	495,360
			(In percent of GDP)
Total receipts (including foreign receipts)			49.0	49.3	47.9	48.9	49.7	50.7	48.4
Total expenditure (including foreign expenditure)			53.6	53.0	52.1	51.1	53.8	55.2	54.8
	Overall balance		-4.5	-3.7	-4.2	-2.1	-4.1	-4.5	-6.4
Total financing			4.5	3.7	4.2	2.1	4.1	4.5	6.4
	Change in monetary base		1.0	0.1	0.9	0.1	0.9	0.3	0.7
	Foreign borrowing (net)		-0.4	-0.4	-0.1	-0.2	-0.6	-0.4	1.4
	Domestic borrowing (net)		2.2	3.0	3.0	1.6	3.7	4.6	4.3
		Through government (net)	0.2	1.0	1.7	-0.1	3.5	5.0	4.5
		Through Bank of Israel (net)	1.9	1.9	1.2	1.7	0.2	-0.4	-0.2
	Sale of assets		1.8	1.0	0.3	0.6	0.0	0.1	0.1
Memorandum items:
	Current balance (net saving)		-3.0	-2.6	-3.2	-1.5	-3.4	-4.0	-6.3
	Current balance + depreciation (gross saving)		-1.6	-1.2	-1.7	-0.1	-1.9	-2.3	-4.5
	Domestic balance		-5.7	-5.0	-5.3	-3.6	-5.3	-5.6	-7.2
	Foreign balance		1.1	1.3	1.1	1.4	1.2	1.1	0.8

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}The finance figures relate only to the central government.

Table 28.

Israel: General Government Receipts (National Accounts), 1997-2003

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}Figures from 1995 onward include revenue from the health tax.

Table 28.

Israel: General Government Receipts (National Accounts), 1997-2003

					1997	1998	1999	2000	2001	2002	2003
											Est.
					(In millions of new sheqalim)
Total domestic receipts					157,505	173,511	183,887	206,637	213,275	224,051	217,707
	Current receipts				144,840	159,049	169,604	191,160	197,410	206,327	199,792
		Taxes and fees			137,454	148,464	162,663	183,939	187,329	190,411	189,976
			Indirect taxes		65,710	70,291	77,672	81,483	82,225	88,416	90,545
				Domestic production	49,340	53,466	58,579	59,889	62,157	67,908	70,013
				Civilian imports	16,370	16,825	19,093	21,594	20,068	20,508	20,532
			Direct taxes and fees		51,230	55,560	60,335	74,828	75,376	70,618	66,867
			National insurance income ^1/		20,514	22,613	24,656	27,628	29,728	31,377	32,564
				Of which: health tax	7,140	7,874	8,725	9,762	10,577	10,788	10,949
			Transfer payments		5,614	6,047	6,466	6,945	7,376	7,862	7,766
				Of which: imputed pensions	5,481	5,612	5,695	6,034	6,370	6,416	6,750
			Property income/tax		1,772	4,538	475	276	2,705	8,054	2,050
		Capital receipts			12,665	14,462	14,283	15,477	15,865	17,724	17,915
			Transfer payments		7,713	8,873	7,969	8,766	8,736	9,728	9,199
			Depreciation		4,952	5,589	6,314	6,711	7,129	7,996	8,716
Total foreign receipts					17,042	20,328	21,879	22,326	22,443	24,963	21,952
	Current receipts				16,434	19,630	21,205	21,673	21,760	24,125	21,286
		Interest			2,707	4,012	4,205	4,562	4,352	3,954	2,695
		Transfer payments			13,727	15,618	17,000	17,111	17,408	20,171	18,591
				Intergovernmental	11,283	12,659	13,935	13,268	14,331	16,424	14,267
				National and nonprofit institutions	2,444	2,959	3,065	3,843	3,077	3,747	4,324
			Capital receipts		608	698	674	653	683	838	666
Total receipts					174,547	193,839	205,766	228,963	235,718	249,014	239,659
GDP					356,055	393,104	429,542	468,144	474,043	491,260	495,360
					(In percent of GDP)
Total domestic receipts					44.2	44.1	42.8	44.1	45.0	45.6	43.9
	Current receipts				40.7	40.5	39.5	40.8	41.6	42.0	40.3
		Taxes and fees			38.6	37.8	37.9	39.3	39.5	38.8	38.4
			Indirect taxes		18.5	17.9	18.1	17.4	17.3	18.0	18.3
				Domestic production	13.9	13.6	13.6	12.8	13.1	13.8	14.1
				Civilian imports	4.6	4.3	4.4	4.6	4.2	4.2	4.1
			Direct taxes and fees		14.4	14.1	14.0	16.0	15.9	14.4	13.5
			National insurance income ^1/		5.8	5.8	5.7	5.9	6.3	6.4	6.6
		Transfer payments			1.6	1.5	1.5	1.5	1.6	1.6	1.6
			Of which: Imputed pensions		1.5	1.4	1.3	1.3	1.3	1.3	1.4
		Property income/tax			0.5	1.2	0.1	0.1	0.6	1.6	0.4
	Capital receipts				3.6	3.7	3.3	3.3	3.3	3.6	3.6
		Transfer payments			2.2	2.3	1.9	1.9	1.8	2.0	1.9
		Depreciation			1.4	1.4	1.5	1.4	1.5	1.6	1.8
Total foreign receipts					4.8	5.2	5.1	4.8	4.7	5.1	4.4
		Current receipts			4.6	5.0	4.9	4.6	4.6	4.9	4.3
		Interest			0.8	1.0	1.0	1.0	0.9	0.8	0.5
			Transfer payments		3.9	4.0	4.0	3.7	3.7	4.1	3.8
				Intergovernmental	3.2	3.2	3.2	2.8	3.0	3.3	2.9
				National and nonprofit institutions	0.7	0.8	0.7	0.8	0.6	0.8	0.9
			Capital receipts		0.2	0.2	0.2	0.1	0.1	0.2	0.1
Total receipts					49.0	49.3	47.9	48.9	49.7	50.7	48.4

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}Figures from 1995 onward include revenue from the health tax.

Table 28.

Israel: General Government Receipts (National Accounts), 1997-2003

					1997	1998	1999	2000	2001	2002	2003
											Est.
					(In millions of new sheqalim)
Total domestic receipts					157,505	173,511	183,887	206,637	213,275	224,051	217,707
	Current receipts				144,840	159,049	169,604	191,160	197,410	206,327	199,792
		Taxes and fees			137,454	148,464	162,663	183,939	187,329	190,411	189,976
			Indirect taxes		65,710	70,291	77,672	81,483	82,225	88,416	90,545
				Domestic production	49,340	53,466	58,579	59,889	62,157	67,908	70,013
				Civilian imports	16,370	16,825	19,093	21,594	20,068	20,508	20,532
			Direct taxes and fees		51,230	55,560	60,335	74,828	75,376	70,618	66,867
			National insurance income ^1/		20,514	22,613	24,656	27,628	29,728	31,377	32,564
				Of which: health tax	7,140	7,874	8,725	9,762	10,577	10,788	10,949
			Transfer payments		5,614	6,047	6,466	6,945	7,376	7,862	7,766
				Of which: imputed pensions	5,481	5,612	5,695	6,034	6,370	6,416	6,750
			Property income/tax		1,772	4,538	475	276	2,705	8,054	2,050
		Capital receipts			12,665	14,462	14,283	15,477	15,865	17,724	17,915
			Transfer payments		7,713	8,873	7,969	8,766	8,736	9,728	9,199
			Depreciation		4,952	5,589	6,314	6,711	7,129	7,996	8,716
Total foreign receipts					17,042	20,328	21,879	22,326	22,443	24,963	21,952
	Current receipts				16,434	19,630	21,205	21,673	21,760	24,125	21,286
		Interest			2,707	4,012	4,205	4,562	4,352	3,954	2,695
		Transfer payments			13,727	15,618	17,000	17,111	17,408	20,171	18,591
				Intergovernmental	11,283	12,659	13,935	13,268	14,331	16,424	14,267
				National and nonprofit institutions	2,444	2,959	3,065	3,843	3,077	3,747	4,324
			Capital receipts		608	698	674	653	683	838	666
Total receipts					174,547	193,839	205,766	228,963	235,718	249,014	239,659
GDP					356,055	393,104	429,542	468,144	474,043	491,260	495,360
					(In percent of GDP)
Total domestic receipts					44.2	44.1	42.8	44.1	45.0	45.6	43.9
	Current receipts				40.7	40.5	39.5	40.8	41.6	42.0	40.3
		Taxes and fees			38.6	37.8	37.9	39.3	39.5	38.8	38.4
			Indirect taxes		18.5	17.9	18.1	17.4	17.3	18.0	18.3
				Domestic production	13.9	13.6	13.6	12.8	13.1	13.8	14.1
				Civilian imports	4.6	4.3	4.4	4.6	4.2	4.2	4.1
			Direct taxes and fees		14.4	14.1	14.0	16.0	15.9	14.4	13.5
			National insurance income ^1/		5.8	5.8	5.7	5.9	6.3	6.4	6.6
		Transfer payments			1.6	1.5	1.5	1.5	1.6	1.6	1.6
			Of which: Imputed pensions		1.5	1.4	1.3	1.3	1.3	1.3	1.4
		Property income/tax			0.5	1.2	0.1	0.1	0.6	1.6	0.4
	Capital receipts				3.6	3.7	3.3	3.3	3.3	3.6	3.6
		Transfer payments			2.2	2.3	1.9	1.9	1.8	2.0	1.9
		Depreciation			1.4	1.4	1.5	1.4	1.5	1.6	1.8
Total foreign receipts					4.8	5.2	5.1	4.8	4.7	5.1	4.4
		Current receipts			4.6	5.0	4.9	4.6	4.6	4.9	4.3
		Interest			0.8	1.0	1.0	1.0	0.9	0.8	0.5
			Transfer payments		3.9	4.0	4.0	3.7	3.7	4.1	3.8
				Intergovernmental	3.2	3.2	3.2	2.8	3.0	3.3	2.9
				National and nonprofit institutions	0.7	0.8	0.7	0.8	0.6	0.8	0.9
			Capital receipts		0.2	0.2	0.2	0.1	0.1	0.2	0.1
Total receipts					49.0	49.3	47.9	48.9	49.7	50.7	48.4

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}Figures from 1995 onward include revenue from the health tax.

Table 29.

Israel: General Government Expenditure (National Accounts), 1997-2003

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}Figures from 1995 onward include expenditure arising from the Health Law.

Table 29.

Israel: General Government Expenditure (National Accounts), 1997-2003

				1997	1998	1999	2000	2001	2002	2003
										Est.
				(In millions of new sheqalim)
Total domestic expenditure				177,692	193,160	206,555	223,262	238,320	251,510	253,284
	Current expenditure			158,881	173,882	187,324	204,318	218,495	230,134	234,036
		Civilian ^1/		70,192	76,014	82,742	89,001	96,207	103,085	103,119
		Defense		25,024	26,762	28,555	31,589	31,918	36,127	36,195
		Transfer payments		44,338	49,966	54,525	59,699	66,169	68,755	68,530
		Subsidies		3,272	3,322	3,478	3,677	3,772	3,354	4,142
			Credit	190	138	66	47	44	25	23
			Other	3,082	3,184	3,412	3,630	3,728	3,329	4,119
		Interest		16,055	17,817	18,023	20,351	20,429	18,814	22,050
	Capital expenditure			18,812	19,278	19,231	18,944	19,825	21,376	19,248
		Investment		11,750	12,841	11,748	12,104	12,807	13,257	13,793
		Capital grants		7,010	6,388	7,445	6,826	6,969	8,093	5,429
		Repayment of compulsory loans		52	49	38	14	49	26	26
Total foreign (current) expenditure				12,999	15,111	17,051	15,764	16,699	19,739	18,191
	Defense imports			5,727	6,824	8,210	7,057	8,200	10,671	8,835
	Interest			6,374	7,199	7,635	7,565	7,330	7,763	7,952
	Other			898	1,088	1,206	1,143	1,170	1,304	1,404
Total expenditure				190,692	208,271	223,606	239,026	255,019	271,249	271,475
GDP				356,055	393,104	429,542	468,144	474,043	491,260	495,360
				(In percent of GDP)
Total domestic expenditure				49.9	49.1	48.1	47.7	50.3	51.2	51.1
	Current expenditure			44.6	44.2	43.6	43.6	46.1	46.8	47.2
		Civilian ^1/		19.7	19.3	19.3	19.0	20.3	21.0	20.8
		Defense		7.0	6.8	6.6	6.7	6.7	7.4	7.3
		Transfer payments		12.5	12.7	12.7	12.8	14.0	14.0	13.8
		Subsidies		0.9	0.8	0.8	0.8	0.8	0.7	0.8
			Credit	0.1	0.0	0.0	0.0	0.0	0.0	0.0
			Other	0.9	0.8	0.8	0.8	0.8	0.7	0.8
		Interest		4.5	4.5	4.2	4.3	4.3	3.8	4.5
	Capital expenditure			5.3	4.9	4.5	4.0	4.2	4.4	3.9
		Investment		3.3	3.3	2.7	2.6	2.7	2.7	2.8
	Capital grants			2.0	1.6	1.7	1.5	1.5	1.6	1.1
		Repayment of compulsory loans		0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total foreign (current) expenditure				3.7	3.8	4.0	3.4	3.5	4.0	3.7
	Defense imports			1.6	1.7	1.9	1.5	1.7	2.2	1.8
		Interest		1.8	1.8	1.8	1.6	1.5	1.6	1.6
		Other		0.3	0.3	0.3	0.2	0.2	0.3	0.3
Total expenditure				53.6	53.0	52.1	51.1	53.8	55.2	54.8

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}Figures from 1995 onward include expenditure arising from the Health Law.

Table 29.

Israel: General Government Expenditure (National Accounts), 1997-2003

				1997	1998	1999	2000	2001	2002	2003
										Est.
				(In millions of new sheqalim)
Total domestic expenditure				177,692	193,160	206,555	223,262	238,320	251,510	253,284
	Current expenditure			158,881	173,882	187,324	204,318	218,495	230,134	234,036
		Civilian ^1/		70,192	76,014	82,742	89,001	96,207	103,085	103,119
		Defense		25,024	26,762	28,555	31,589	31,918	36,127	36,195
		Transfer payments		44,338	49,966	54,525	59,699	66,169	68,755	68,530
		Subsidies		3,272	3,322	3,478	3,677	3,772	3,354	4,142
			Credit	190	138	66	47	44	25	23
			Other	3,082	3,184	3,412	3,630	3,728	3,329	4,119
		Interest		16,055	17,817	18,023	20,351	20,429	18,814	22,050
	Capital expenditure			18,812	19,278	19,231	18,944	19,825	21,376	19,248
		Investment		11,750	12,841	11,748	12,104	12,807	13,257	13,793
		Capital grants		7,010	6,388	7,445	6,826	6,969	8,093	5,429
		Repayment of compulsory loans		52	49	38	14	49	26	26
Total foreign (current) expenditure				12,999	15,111	17,051	15,764	16,699	19,739	18,191
	Defense imports			5,727	6,824	8,210	7,057	8,200	10,671	8,835
	Interest			6,374	7,199	7,635	7,565	7,330	7,763	7,952
	Other			898	1,088	1,206	1,143	1,170	1,304	1,404
Total expenditure				190,692	208,271	223,606	239,026	255,019	271,249	271,475
GDP				356,055	393,104	429,542	468,144	474,043	491,260	495,360
				(In percent of GDP)
Total domestic expenditure				49.9	49.1	48.1	47.7	50.3	51.2	51.1
	Current expenditure			44.6	44.2	43.6	43.6	46.1	46.8	47.2
		Civilian ^1/		19.7	19.3	19.3	19.0	20.3	21.0	20.8
		Defense		7.0	6.8	6.6	6.7	6.7	7.4	7.3
		Transfer payments		12.5	12.7	12.7	12.8	14.0	14.0	13.8
		Subsidies		0.9	0.8	0.8	0.8	0.8	0.7	0.8
			Credit	0.1	0.0	0.0	0.0	0.0	0.0	0.0
			Other	0.9	0.8	0.8	0.8	0.8	0.7	0.8
		Interest		4.5	4.5	4.2	4.3	4.3	3.8	4.5
	Capital expenditure			5.3	4.9	4.5	4.0	4.2	4.4	3.9
		Investment		3.3	3.3	2.7	2.6	2.7	2.7	2.8
	Capital grants			2.0	1.6	1.7	1.5	1.5	1.6	1.1
		Repayment of compulsory loans		0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total foreign (current) expenditure				3.7	3.8	4.0	3.4	3.5	4.0	3.7
	Defense imports			1.6	1.7	1.9	1.5	1.7	2.2	1.8
		Interest		1.8	1.8	1.8	1.6	1.5	1.6	1.6
		Other		0.3	0.3	0.3	0.2	0.2	0.3	0.3
Total expenditure				53.6	53.0	52.1	51.1	53.8	55.2	54.8

Sources: Bank of Israel; and revised BCS data from January 2004.

^{^1/}Figures from 1995 onward include expenditure arising from the Health Law.

Table 30.

Israel: Structure of General Government Finances (National Accounts), 1997-2003

Source: Bank of Israel and revised BCS data from January 2004

Table 30.

Israel: Structure of General Government Finances (National Accounts), 1997-2003

		1997	1998	1999	2000	2001	2002	2003
								Est.
		(In millions of new sheqalim)
Receipts from the public		175,456	193,841	205,928	228,962	235,717	249,015	241,570
	Central government	133,897	147,775	156,041	173,717	178,320	187,468	177,347
	National Insurance Institute	20,605	22,730	24,784	27,751	29,874	31,531	32,725
	National institutions	1,308	1,512	1,206	1,254	1,268	1,827	1,296
	Local authorities	15,228	16,759	18,148	19,662	20,230	21,568	22,358
	Public nonprofit associations	4,418	5,065	5,749	6,578	6,025	6,621	7,844
Expenditure on the public		188,607	206,059	221,235	236,229	252,213	271,908	271,697
	Central government	102,474	111,367	120,249	127,330	133,324	146,861	147,215
	National Insurance Institute	27,730	31,579	34,813	38,187	43,543	44,814	43,993
	National institutions	2,095	2,188	1,741	1,833	1,890	1,937	1,886
	Local authorities	25,283	27,988	28,559	30,232	32,294	34,332	34,736
	Public nonprofit associations	31,025	32,937	35,873	38,647	41,162	43,964	43,867
Unilateral transfers to general government entities		0	0	0	0	0	0	0
	Central government	44,134	47,822	52,796	54,571	59,340	61,393	57,919
	National Insurance Institute	-9,213	-10,145	-11,304	-11,737	-13,961	-15,056	-13,277
	National institutions	31	-13	-61	6	-37	-27	-18
	Local authorities	-7,802	-8,513	-9,517	-9,592	-10,520	-10,483	-9,509
	Public nonprofit associations	-27,150	-29,151	-31,914	-33,248	-34,822	-35,828	-35,115
Overall balance		-13,151	-12,218	-15,307	-7,267	-16,496	-22,893	-30,127
	Central government	-12,711	-11,414	-17,004	-8,184	-14,344	-20,786	-27,787
	National Insurance Institute	2,088	1,296	1,275	1,301	292	1,773	2,009
	National institutions	-818	-663	-474	-585	-585	-83	-572
	Local authorities	-2,253	-2,716	-894	-978	-1,544	-2,281	-2,869
	Public nonprofit associations	543	1,279	1,790	1,179	-315	-1,515	-908
GDP		356,055	393,104	429,542	468,144	474,043	491,260	495,360
		(In percent of GDP)
Receipts from the public		49.3	49.3	47.9	48.9	49.7	50.7	48.8
	Central government	37.6	37.6	36.3	37.1	37.6	38.2	35.8
	National Insurance Institute	5.8	5.8	5.8	5.9	6.3	6.4	6.6
	National institutions	0.4	0.4	0.3	0.3	0.3	0.4	0.3
	Local authorities	4.3	4.3	4.2	4.2	4.3	4.4	4.5
	Public nonprofit associations	1.2	1.3	1.3	1.4	1.3	1.3	1.6
Expenditure on the public		53.0	52.4	51.5	50.5	53.2	55.3	54.8
	Central government	28.8	28.3	28.0	27.2	28.1	29.9	29.7
	National Insurance Institute	7.8	8.0	8.1	8.2	9.2	9.1	8.9
	National institutions	0.6	0.6	0.4	0.4	0.4	0.4	0.4
	Local authorities	7.1	7.1	6.6	6.5	6.8	7.0	7.0
	Public nonprofit associations	8.7	8.4	8.4	8.3	8.7	8.9	8.9
Unilateral transfers to general government entities		0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Central government	12.4	12.2	12.3	11.7	12.5	12.5	11.7
	National Insurance Institute	-2.6	-2.6	-2.6	-2.5	-2.9	-3.1	-2.7
	National institutions	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Local authorities	-2.2	-2.2	-2.2	-2.0	-2.2	-2.1	-1.9
	Public nonprofit associations	-7.6	-7.4	-7.4	-7.1	-7.3	-7.3	-7.1
Overall balance		-3.7	-3.1	-3.6	-1.6	-3.5	-4.7	-6.1
	Central government	-3.6	-2.9	-4.0	-1.7	-3.0	-4.2	-5.6
	National Insurance Institute	0.6	0.3	0.3	0.3	0.1	0.4	0.4
	National institutions	-0.2	-0.2	-0.1	-0.1	-0.1	0.0	-0.1
	Local authorities	-0.6	-0.7	-0.2	-0.2	-0.3	-0.5	-0.6
	Public nonprofit associations	0.2	0.3	0.4	0.3	-0.1	-0.3	-0.2

Source: Bank of Israel and revised BCS data from January 2004

Table 30.

Israel: Structure of General Government Finances (National Accounts), 1997-2003

		1997	1998	1999	2000	2001	2002	2003
								Est.
		(In millions of new sheqalim)
Receipts from the public		175,456	193,841	205,928	228,962	235,717	249,015	241,570
	Central government	133,897	147,775	156,041	173,717	178,320	187,468	177,347
	National Insurance Institute	20,605	22,730	24,784	27,751	29,874	31,531	32,725
	National institutions	1,308	1,512	1,206	1,254	1,268	1,827	1,296
	Local authorities	15,228	16,759	18,148	19,662	20,230	21,568	22,358
	Public nonprofit associations	4,418	5,065	5,749	6,578	6,025	6,621	7,844
Expenditure on the public		188,607	206,059	221,235	236,229	252,213	271,908	271,697
	Central government	102,474	111,367	120,249	127,330	133,324	146,861	147,215
	National Insurance Institute	27,730	31,579	34,813	38,187	43,543	44,814	43,993
	National institutions	2,095	2,188	1,741	1,833	1,890	1,937	1,886
	Local authorities	25,283	27,988	28,559	30,232	32,294	34,332	34,736
	Public nonprofit associations	31,025	32,937	35,873	38,647	41,162	43,964	43,867
Unilateral transfers to general government entities		0	0	0	0	0	0	0
	Central government	44,134	47,822	52,796	54,571	59,340	61,393	57,919
	National Insurance Institute	-9,213	-10,145	-11,304	-11,737	-13,961	-15,056	-13,277
	National institutions	31	-13	-61	6	-37	-27	-18
	Local authorities	-7,802	-8,513	-9,517	-9,592	-10,520	-10,483	-9,509
	Public nonprofit associations	-27,150	-29,151	-31,914	-33,248	-34,822	-35,828	-35,115
Overall balance		-13,151	-12,218	-15,307	-7,267	-16,496	-22,893	-30,127
	Central government	-12,711	-11,414	-17,004	-8,184	-14,344	-20,786	-27,787
	National Insurance Institute	2,088	1,296	1,275	1,301	292	1,773	2,009
	National institutions	-818	-663	-474	-585	-585	-83	-572
	Local authorities	-2,253	-2,716	-894	-978	-1,544	-2,281	-2,869
	Public nonprofit associations	543	1,279	1,790	1,179	-315	-1,515	-908
GDP		356,055	393,104	429,542	468,144	474,043	491,260	495,360
		(In percent of GDP)
Receipts from the public		49.3	49.3	47.9	48.9	49.7	50.7	48.8
	Central government	37.6	37.6	36.3	37.1	37.6	38.2	35.8
	National Insurance Institute	5.8	5.8	5.8	5.9	6.3	6.4	6.6
	National institutions	0.4	0.4	0.3	0.3	0.3	0.4	0.3
	Local authorities	4.3	4.3	4.2	4.2	4.3	4.4	4.5
	Public nonprofit associations	1.2	1.3	1.3	1.4	1.3	1.3	1.6
Expenditure on the public		53.0	52.4	51.5	50.5	53.2	55.3	54.8
	Central government	28.8	28.3	28.0	27.2	28.1	29.9	29.7
	National Insurance Institute	7.8	8.0	8.1	8.2	9.2	9.1	8.9
	National institutions	0.6	0.6	0.4	0.4	0.4	0.4	0.4
	Local authorities	7.1	7.1	6.6	6.5	6.8	7.0	7.0
	Public nonprofit associations	8.7	8.4	8.4	8.3	8.7	8.9	8.9
Unilateral transfers to general government entities		0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Central government	12.4	12.2	12.3	11.7	12.5	12.5	11.7
	National Insurance Institute	-2.6	-2.6	-2.6	-2.5	-2.9	-3.1	-2.7
	National institutions	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Local authorities	-2.2	-2.2	-2.2	-2.0	-2.2	-2.1	-1.9
	Public nonprofit associations	-7.6	-7.4	-7.4	-7.1	-7.3	-7.3	-7.1
Overall balance		-3.7	-3.1	-3.6	-1.6	-3.5	-4.7	-6.1
	Central government	-3.6	-2.9	-4.0	-1.7	-3.0	-4.2	-5.6
	National Insurance Institute	0.6	0.3	0.3	0.3	0.1	0.4	0.4
	National institutions	-0.2	-0.2	-0.1	-0.1	-0.1	0.0	-0.1
	Local authorities	-0.6	-0.7	-0.2	-0.2	-0.3	-0.5	-0.6
	Public nonprofit associations	0.2	0.3	0.4	0.3	-0.1	-0.3	-0.2

Source: Bank of Israel and revised BCS data from January 2004

Table 31.

Israel: Currency Basket of the Israeli Sheqel, 1994–2003

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

Table 31.

Israel: Currency Basket of the Israeli Sheqel, 1994–2003

	Percentage distribution of currencies on the basis of market rates on:
	1994	1995	1996	1997	1998
	Dec. 31	Dec. 31	Dec. 31	Dec. 31	Dec. 31
U.S. dollar	0.5381	0.5583	0.6028	0.6296	0.6151
Pound sterling	0.0939	0.0819	0.0895	0.0909	0.0894
Deutschmark	0.2419	0.2424	0.2070	0.1870	0.1954
Japanese yen	0.0692	0.0597	0.0505	0.0469	0.0525
French franc	0.0569	0.0577	0.0502	0.0457	0.0476

	Percentage distribution of currencies on the basis of market rates on:
	1999	2000	2001	2002	2003
	Dec. 31	Dec. 31	Dec. 31	Dec. 31	Nov. 21
U.S. dollar	0.6343	0.6487	0.6624	0.6287	0.6035
Pound sterling	0.0896	0.0655	0.0649	0.0685	0.0695
Euro	0.2159	0.2248	0.2182	0.2455	0.2671
Japanese yen	0.0602	0.0610	0.0555	0.0573	0.0599

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

Table 31.

Israel: Currency Basket of the Israeli Sheqel, 1994–2003

	Percentage distribution of currencies on the basis of market rates on:
	1994	1995	1996	1997	1998
	Dec. 31	Dec. 31	Dec. 31	Dec. 31	Dec. 31
U.S. dollar	0.5381	0.5583	0.6028	0.6296	0.6151
Pound sterling	0.0939	0.0819	0.0895	0.0909	0.0894
Deutschmark	0.2419	0.2424	0.2070	0.1870	0.1954
Japanese yen	0.0692	0.0597	0.0505	0.0469	0.0525
French franc	0.0569	0.0577	0.0502	0.0457	0.0476

	Percentage distribution of currencies on the basis of market rates on:
	1999	2000	2001	2002	2003
	Dec. 31	Dec. 31	Dec. 31	Dec. 31	Nov. 21
U.S. dollar	0.6343	0.6487	0.6624	0.6287	0.6035
Pound sterling	0.0896	0.0655	0.0649	0.0685	0.0695
Euro	0.2159	0.2248	0.2182	0.2455	0.2671
Japanese yen	0.0602	0.0610	0.0555	0.0573	0.0599

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

Table 32.

Israel: Exchange Rate Developments, 1997-2003

(Index number 1986 = 100; period averages)

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

Table 32.

Israel: Exchange Rate Developments, 1997-2003

(Index number 1986 = 100; period averages)

		U.S. dollar/sheqel	Pound sterling/sheqel	Deutsche mark/sheqel	Japanese yen/sheqel	French franc/sheqel	Currency basket
1997		231.9	259.2	288.6	320.9	274.5	249.9
1998		255.5	288.7	314.4	328.7	300.2	274.0
1999		278.4	307.3	327.3	411.6	312.4	296.8
2000		274.1	283.1	279.2	424.8	266.6	282.6
2001		282.5	277.2	278.8	387.9	266.1	286.2
2002		318.4	326.7	332.8	426.0	317.6	327.3
2003		306.5	339.2	378.8	438.7	361.5	331.1
1997
	I	223.3	248.7	291.5	308.5	276.5	243.3
	II	229.5	256.0	288.8	320.9	274.2	248.0
	III	237.1	263.1	283.3	335.8	269.3	253.2
	IV	237.3	269.0	291.8	316.3	278.9	254.9
1998
	I	241.0	270.5	285.9	314.3	273.1	256.2
	II	247.1	278.5	297.3	303.5	283.9	262.9
	III	250.7	282.2	306.2	298.9	292.3	267.3
	IV	282.2	322.4	366.1	395.7	349.5	308.0
1999
	I	272.8	304.0	338.3	391.5	322.9	294.3
	II	274.9	301.2	320.0	380.1	305.5	291.2
	III	281.0	307.0	325.1	415.2	310.4	298.2
	IV	284.1	316.1	325.5	454.4	310.8	302.7
2000
	I	272.5	298.7	297.0	425.4	283.5	286.4
	II	275.8	287.4	283.9	431.5	271.0	285.4
	III	272.8	274.9	272.5	423.3	260.2	279.8
	IV	275.5	271.6	263.8	419.4	251.8	279.2
2001
	I	278.0	276.6	282.9	392.7	270.0	284.3
	II	279.5	270.7	269.2	380.7	257.0	281.4
	III	285.2	279.0	279.2	390.4	266.5	288.4
	IV	287.4	282.6	283.7	388.1	270.8	291.0
2002
	I	310.2	301.7	300.1	391.3	286.4	311.3
	II	328.1	327.2	333.0	432.4	317.8	334.1
	III	317.4	335.1	344.3	444.5	328.6	330.5
	IV	317.8	340.6	350.5	433.1	334.6	332.1
2003
	I	324.6	355.0	384.4	455.8	366.9	346.1
	II	301.3	333.2	378.1	424.3	360.9	326.4
	III	297.6	326.5	369.0	422.7	352.2	321.4

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

Table 32.

Israel: Exchange Rate Developments, 1997-2003

(Index number 1986 = 100; period averages)

		U.S. dollar/sheqel	Pound sterling/sheqel	Deutsche mark/sheqel	Japanese yen/sheqel	French franc/sheqel	Currency basket
1997		231.9	259.2	288.6	320.9	274.5	249.9
1998		255.5	288.7	314.4	328.7	300.2	274.0
1999		278.4	307.3	327.3	411.6	312.4	296.8
2000		274.1	283.1	279.2	424.8	266.6	282.6
2001		282.5	277.2	278.8	387.9	266.1	286.2
2002		318.4	326.7	332.8	426.0	317.6	327.3
2003		306.5	339.2	378.8	438.7	361.5	331.1
1997
	I	223.3	248.7	291.5	308.5	276.5	243.3
	II	229.5	256.0	288.8	320.9	274.2	248.0
	III	237.1	263.1	283.3	335.8	269.3	253.2
	IV	237.3	269.0	291.8	316.3	278.9	254.9
1998
	I	241.0	270.5	285.9	314.3	273.1	256.2
	II	247.1	278.5	297.3	303.5	283.9	262.9
	III	250.7	282.2	306.2	298.9	292.3	267.3
	IV	282.2	322.4	366.1	395.7	349.5	308.0
1999
	I	272.8	304.0	338.3	391.5	322.9	294.3
	II	274.9	301.2	320.0	380.1	305.5	291.2
	III	281.0	307.0	325.1	415.2	310.4	298.2
	IV	284.1	316.1	325.5	454.4	310.8	302.7
2000
	I	272.5	298.7	297.0	425.4	283.5	286.4
	II	275.8	287.4	283.9	431.5	271.0	285.4
	III	272.8	274.9	272.5	423.3	260.2	279.8
	IV	275.5	271.6	263.8	419.4	251.8	279.2
2001
	I	278.0	276.6	282.9	392.7	270.0	284.3
	II	279.5	270.7	269.2	380.7	257.0	281.4
	III	285.2	279.0	279.2	390.4	266.5	288.4
	IV	287.4	282.6	283.7	388.1	270.8	291.0
2002
	I	310.2	301.7	300.1	391.3	286.4	311.3
	II	328.1	327.2	333.0	432.4	317.8	334.1
	III	317.4	335.1	344.3	444.5	328.6	330.5
	IV	317.8	340.6	350.5	433.1	334.6	332.1
2003
	I	324.6	355.0	384.4	455.8	366.9	346.1
	II	301.3	333.2	378.1	424.3	360.9	326.4
	III	297.6	326.5	369.0	422.7	352.2	321.4

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

Table 33.

Israel: Balance of Payments, 1998-2003

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}The growth rate in percent is compared to same period the previous year.

Table 33.

Israel: Balance of Payments, 1998-2003

			1998	1999	2000	2001	2002	2003
								QI	QII
			(In millions of U.S. dollars)
Current account balance			-1,149	-1,512	-670	-1,776	-1,380	452	101
Trade balance			-3,051	-4,214	-2,883	-3,004	-3,726	-486	-543
	Exports f.o.b		23,190	25,827	31,153	27,974	27,486	7,417	7,027
	Imports f.o.b		26,241	30,041	34,036	30,978	31,212	7,903	7,570
		Civillian imports	24,369	27,971	32,100	28,832	28,801	7,257	7,133
		Military imports (defence import	1,872	2,070	1,936	2,146	2,411	645	437
Civillan trade balance			-1,178	-2,144	-947	-858	-1,315	159	-106
Services balance			-146	941	2,656	-553	-605	469	-64
	Exports		9,490	11,649	15,162	11,950	10,865	2,822	2,802
	Imports		9,636	10,708	12,505	12,503	11,470	2,353	2,866
Income (factor income) balance			-4,028	-4,552	-6,927	-4,627	-3,599	-934	-888
	Exports		2,508	2,799	3,759	2,881	2,852	570	658
	Imports		6,537	7,351	10,686	7,509	6,451	1,504	1,546
Current transfers			6,076	6,313	6,483	6,409	6,549	1,404	1,595
Capital transfers			577	569	455	681	151	86	106
Net financial transactions (excluding re			…	4,600	4,054	195	-1,739	-802	-393
	Total net direct investment		…	2,136	1,548	2,715	417	526	1,229
	Total net portfolio investment		…	1,918	2,228	-1,487	-1,909	184	-474
	Total net other investment		…	696	-387	-1,543	-438	-1,724	-1,354
	Financial derivatives		…	-149	664	510	191	213	206
Change in bank of israel total assets an			-1,880	-929	-761	150	746	412	-321
Statistical discrepancies			588	-2,728	-3,077	750	2,223	-149	507
			(Growth rates in percent) ^1/
Memorandum items:
	Goods exports		1.4	11.4	20.6	-10.2	-1.7	3.1	-5.3
	Goods imports		-5.9	14.5	13.3	-9.0	0.8	-5.4	-4.2
	Services exports		8.7	22.7	30.2	-21.2	-9.1	-2.9	-0.7
	Services imports		3.6	11.1	16.8	0.0	-8.3	-11.7	21.8

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}The growth rate in percent is compared to same period the previous year.

Table 33.

Israel: Balance of Payments, 1998-2003

			1998	1999	2000	2001	2002	2003
								QI	QII
			(In millions of U.S. dollars)
Current account balance			-1,149	-1,512	-670	-1,776	-1,380	452	101
Trade balance			-3,051	-4,214	-2,883	-3,004	-3,726	-486	-543
	Exports f.o.b		23,190	25,827	31,153	27,974	27,486	7,417	7,027
	Imports f.o.b		26,241	30,041	34,036	30,978	31,212	7,903	7,570
		Civillian imports	24,369	27,971	32,100	28,832	28,801	7,257	7,133
		Military imports (defence import	1,872	2,070	1,936	2,146	2,411	645	437
Civillan trade balance			-1,178	-2,144	-947	-858	-1,315	159	-106
Services balance			-146	941	2,656	-553	-605	469	-64
	Exports		9,490	11,649	15,162	11,950	10,865	2,822	2,802
	Imports		9,636	10,708	12,505	12,503	11,470	2,353	2,866
Income (factor income) balance			-4,028	-4,552	-6,927	-4,627	-3,599	-934	-888
	Exports		2,508	2,799	3,759	2,881	2,852	570	658
	Imports		6,537	7,351	10,686	7,509	6,451	1,504	1,546
Current transfers			6,076	6,313	6,483	6,409	6,549	1,404	1,595
Capital transfers			577	569	455	681	151	86	106
Net financial transactions (excluding re			…	4,600	4,054	195	-1,739	-802	-393
	Total net direct investment		…	2,136	1,548	2,715	417	526	1,229
	Total net portfolio investment		…	1,918	2,228	-1,487	-1,909	184	-474
	Total net other investment		…	696	-387	-1,543	-438	-1,724	-1,354
	Financial derivatives		…	-149	664	510	191	213	206
Change in bank of israel total assets an			-1,880	-929	-761	150	746	412	-321
Statistical discrepancies			588	-2,728	-3,077	750	2,223	-149	507
			(Growth rates in percent) ^1/
Memorandum items:
	Goods exports		1.4	11.4	20.6	-10.2	-1.7	3.1	-5.3
	Goods imports		-5.9	14.5	13.3	-9.0	0.8	-5.4	-4.2
	Services exports		8.7	22.7	30.2	-21.2	-9.1	-2.9	-0.7
	Services imports		3.6	11.1	16.8	0.0	-8.3	-11.7	21.8

Sources: Bank of Israel; and Central Bureau of Statistics.

^{^1/}The growth rate in percent is compared to same period the previous year.

Table 34.

Israel: Balance of Payments--Services, 1997-2003

Source: Central Bureau of Statistics.

Table 34.

Israel: Balance of Payments--Services, 1997-2003

		1997	1998	1999	2000	2001	2002	2003
								QI	QII
		(In millions of U.S dollars)
Freight and transportation, net		-1,911	-1,932	-2,028	-2,405	-2,392	-2,078	-409	-483
	Receipts	2,001	2,097	2,263	2,482	2,122	2,122	579	614
	Payments	-3,913	-4,028	-4,291	-4,887	-4,514	-4,199	-989	-1,097
Travel, net		1,011	684	1,739	1,348	-381	-439	82	-227
	Receipts	3,295	3,157	4,304	4,152	2,564	2,103	473	472
	Payments	-2,283	-2,473	-2,566	-2,804	-2,945	-2,543	-391	-698
Insurance, net		-277	-259	-323	-313	-300	-364	-111	-83
	Receipts	15	17	18	17	13	15	4	4
	Payments	-292	-276	-340	-330	-313	-379	-116	-87
Other, net		712	1,483	1,666	4,142	2,680	2,450	954	783
	Receipts	3,348	4,143	4,965	8,428	7,209	6,598	1,758	1,706
	Payments	-2,636	-2,660	-3,299	-4,287	-4,529	-4,148	-804	-923
Government, net		-100	-123	-113	-116	-161	-174	-47	-54
	Receipts	75	76	99	83	41	27	8	7
	Payments	-175	-199	-213	-198	-202	-201	-54	-61
Total Services, net		-565	-146	941	2,656	-553	-605	469	-64
	Receipts	8,734	9,490	11,649	15,162	11,950	10,865	2,822	2,802
	Payments	-9,299	-9,636	-10,708	-12,505	-12,503	-11,470	-2,353	-2,866
Compensation of employees, net		…	…	-2,938	-3,172	-2,887	-2,505	-523	-475
	Receipts	…	…	154	165	165	150	33	32
	Payments	…	…	3,092	3,337	3,052	2,655	556	507
Total investment income, net		…	…	-1,615	-3,754	-1,740	-1,093	-410	-412
	Receipts	…	…	2,644	3,594	2,716	2,703	538	626
	Payments	…	…	4,259	7,348	4,456	3,796	948	1,038

Source: Central Bureau of Statistics.

Table 34.

Israel: Balance of Payments--Services, 1997-2003

		1997	1998	1999	2000	2001	2002	2003
								QI	QII
		(In millions of U.S dollars)
Freight and transportation, net		-1,911	-1,932	-2,028	-2,405	-2,392	-2,078	-409	-483
	Receipts	2,001	2,097	2,263	2,482	2,122	2,122	579	614
	Payments	-3,913	-4,028	-4,291	-4,887	-4,514	-4,199	-989	-1,097
Travel, net		1,011	684	1,739	1,348	-381	-439	82	-227
	Receipts	3,295	3,157	4,304	4,152	2,564	2,103	473	472
	Payments	-2,283	-2,473	-2,566	-2,804	-2,945	-2,543	-391	-698
Insurance, net		-277	-259	-323	-313	-300	-364	-111	-83
	Receipts	15	17	18	17	13	15	4	4
	Payments	-292	-276	-340	-330	-313	-379	-116	-87
Other, net		712	1,483	1,666	4,142	2,680	2,450	954	783
	Receipts	3,348	4,143	4,965	8,428	7,209	6,598	1,758	1,706
	Payments	-2,636	-2,660	-3,299	-4,287	-4,529	-4,148	-804	-923
Government, net		-100	-123	-113	-116	-161	-174	-47	-54
	Receipts	75	76	99	83	41	27	8	7
	Payments	-175	-199	-213	-198	-202	-201	-54	-61
Total Services, net		-565	-146	941	2,656	-553	-605	469	-64
	Receipts	8,734	9,490	11,649	15,162	11,950	10,865	2,822	2,802
	Payments	-9,299	-9,636	-10,708	-12,505	-12,503	-11,470	-2,353	-2,866
Compensation of employees, net		…	…	-2,938	-3,172	-2,887	-2,505	-523	-475
	Receipts	…	…	154	165	165	150	33	32
	Payments	…	…	3,092	3,337	3,052	2,655	556	507
Total investment income, net		…	…	-1,615	-3,754	-1,740	-1,093	-410	-412
	Receipts	…	…	2,644	3,594	2,716	2,703	538	626
	Payments	…	…	4,259	7,348	4,456	3,796	948	1,038

Source: Central Bureau of Statistics.

Table 35.

Israel: Export Volume and Price Indices, 1997-2003

(percentage change from previous period)

Sources: Central Bureau of Statistics, Foreingn Trade Statistics Quarterly, and Monthly Bulletin of Statistics.

^{^1/}Value data deflated by paasche unit value indices.

^{^2/}Based on data in U.S dollars.

Table 35.

Israel: Export Volume and Price Indices, 1997-2003

(percentage change from previous period)

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
Volume indicators ^1/
Agricultural products		8.5	7.1	1.7	-2.6	-9.4	-8.6	46.1	-36.5	-42.9
	Citrus fruit	3.4	-13.7	-15.5	-21.5	-14.9	-30.4	65.8	-58.8	-70.2
	Other fruits and vegetables	0.1	19.1	5.3	10.0	7.1	-4.5	76.2	-49.8	-59.2
	Other	16.4	11.1	6.1	-3.9	-18.6	-6.5	16.0	-12.7	-26.9
Industrial products (excl. diamonds)		13.9	11.6	7.1	31.6	-4.8	-5.6	-2.9	-2.1	1.8
	Ores and minerals	9.6	0.7	-7.8	8.6	-8.1	5.1	10.1	47.1	-6.6
	Food (incl. Beverages and tobacco)	-12.9	-5.7	-9.9	3.3	1.2	-0.5	11.5	-3.3	2.1
	Textiles (incl. Clothing and leather)	-1.6	3.7	9.4	2.1	-8.5	-5.1	-3.1	-9.8	5.8
	Other light industry products	-1.0	2.2	8.3	8.7	-2.7	7.9	-10.1	1.2	7.5
	Chemicals	17.4	12.0	5.2	13.7	13.4	10.2	-9.9	11.4	-7.1
	Metals, machinery and electronics	20.3	16.6	8.5	47.6	-8.5	-13.7	-0.2	-9.2	5.6
Diamonds, net		-0.9	-13.0	20.4	9.8	-14.2	21.1	25.1	-27.2	23.9
Total, net		9.5	4.7	9.2	23.8	-7.0	0.0	6.3	-12.9	7.5
Total, excluding diamonds		14.5	12.2	5.6	29.1	-4.8	-6.0	-0.1	-6.8	2.0
Price indicators ^2/
Agricultural products		-8.1	-5.8	-4.9	-7.9	-0.9	7.7	10.0	-9.7	-6.1
	Citrus fruit	-11.0	4.5	5.9	-12.2	4.3	2.0	-9.0	0.9	1.2
	Other fruits and vegetables	-5.0	-1.8	-2.4	-9.8	-2.9	1.9	-1.7	-8.1	-3.0
	Other	-9.5	-12.1	-9.7	-5.3	-0.5	14.1	30.0	-16.2	-9.3
Industrial products (excl. diamonds)		-3.0	-3.3	-1.5	-2.8	-2.1	-1.0	1.9	-0.3	-0.3
	Ores and minerals	5.0	3.9	2.5	-0.6	1.4	1.0	5.5	1.9	-3.1
	Food (incl. Beverages and tobacco)	-0.5	-4.3	2.5	-2.2	-4.8	0.9	-2.1	2.9	1.3
	Textiles (incl. Clothing and leather)	1.5	2.8	-2.4	-1.4	-0.6	1.6	2.9	-1.2	1.6
	Other light industry products	3.2	-3.6	0.1	-4.1	3.3	-1.6	0.8	1.6	-1.5
	Chemicals	-3.2	-7.6	-0.3	2.2	-6.7	-1.2	7.5	-4.9	0.9
	Metals, machinery and electronics	-4.6	-3.1	-2.3	-4.6	-1.8	-0.8	0.3	0.4	-0.4
Diamonds, net		4.3	-2.0	8.5	9.2	-3.1	0.9	-4.6	19.0	-6.9
Total, net		-1.2	-2.9	1.0	0.5	-2.4	-0.3	-0.3	6.1	-3.0
Total, excluding diamonds		-4.1	-4.5	-0.6	-2.4	-2.2	-0.7	1.5	1.6	-1.8

Sources: Central Bureau of Statistics, Foreingn Trade Statistics Quarterly, and Monthly Bulletin of Statistics.

^{^1/}Value data deflated by paasche unit value indices.

^{^2/}Based on data in U.S dollars.

Table 35.

Israel: Export Volume and Price Indices, 1997-2003

(percentage change from previous period)

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
Volume indicators ^1/
Agricultural products		8.5	7.1	1.7	-2.6	-9.4	-8.6	46.1	-36.5	-42.9
	Citrus fruit	3.4	-13.7	-15.5	-21.5	-14.9	-30.4	65.8	-58.8	-70.2
	Other fruits and vegetables	0.1	19.1	5.3	10.0	7.1	-4.5	76.2	-49.8	-59.2
	Other	16.4	11.1	6.1	-3.9	-18.6	-6.5	16.0	-12.7	-26.9
Industrial products (excl. diamonds)		13.9	11.6	7.1	31.6	-4.8	-5.6	-2.9	-2.1	1.8
	Ores and minerals	9.6	0.7	-7.8	8.6	-8.1	5.1	10.1	47.1	-6.6
	Food (incl. Beverages and tobacco)	-12.9	-5.7	-9.9	3.3	1.2	-0.5	11.5	-3.3	2.1
	Textiles (incl. Clothing and leather)	-1.6	3.7	9.4	2.1	-8.5	-5.1	-3.1	-9.8	5.8
	Other light industry products	-1.0	2.2	8.3	8.7	-2.7	7.9	-10.1	1.2	7.5
	Chemicals	17.4	12.0	5.2	13.7	13.4	10.2	-9.9	11.4	-7.1
	Metals, machinery and electronics	20.3	16.6	8.5	47.6	-8.5	-13.7	-0.2	-9.2	5.6
Diamonds, net		-0.9	-13.0	20.4	9.8	-14.2	21.1	25.1	-27.2	23.9
Total, net		9.5	4.7	9.2	23.8	-7.0	0.0	6.3	-12.9	7.5
Total, excluding diamonds		14.5	12.2	5.6	29.1	-4.8	-6.0	-0.1	-6.8	2.0
Price indicators ^2/
Agricultural products		-8.1	-5.8	-4.9	-7.9	-0.9	7.7	10.0	-9.7	-6.1
	Citrus fruit	-11.0	4.5	5.9	-12.2	4.3	2.0	-9.0	0.9	1.2
	Other fruits and vegetables	-5.0	-1.8	-2.4	-9.8	-2.9	1.9	-1.7	-8.1	-3.0
	Other	-9.5	-12.1	-9.7	-5.3	-0.5	14.1	30.0	-16.2	-9.3
Industrial products (excl. diamonds)		-3.0	-3.3	-1.5	-2.8	-2.1	-1.0	1.9	-0.3	-0.3
	Ores and minerals	5.0	3.9	2.5	-0.6	1.4	1.0	5.5	1.9	-3.1
	Food (incl. Beverages and tobacco)	-0.5	-4.3	2.5	-2.2	-4.8	0.9	-2.1	2.9	1.3
	Textiles (incl. Clothing and leather)	1.5	2.8	-2.4	-1.4	-0.6	1.6	2.9	-1.2	1.6
	Other light industry products	3.2	-3.6	0.1	-4.1	3.3	-1.6	0.8	1.6	-1.5
	Chemicals	-3.2	-7.6	-0.3	2.2	-6.7	-1.2	7.5	-4.9	0.9
	Metals, machinery and electronics	-4.6	-3.1	-2.3	-4.6	-1.8	-0.8	0.3	0.4	-0.4
Diamonds, net		4.3	-2.0	8.5	9.2	-3.1	0.9	-4.6	19.0	-6.9
Total, net		-1.2	-2.9	1.0	0.5	-2.4	-0.3	-0.3	6.1	-3.0
Total, excluding diamonds		-4.1	-4.5	-0.6	-2.4	-2.2	-0.7	1.5	1.6	-1.8

Sources: Central Bureau of Statistics, Foreingn Trade Statistics Quarterly, and Monthly Bulletin of Statistics.

^{^1/}Value data deflated by paasche unit value indices.

^{^2/}Based on data in U.S dollars.

Table 36.

Israel: Commodity Composition of Exports, 1997-2003 ^1/

Sources: Central Bureau of Statistics; Foreign Trade Statistics Quarterly; and Monthly Bulletin of Statistics.

^{^1/}Excluding exports to the autonomy and administered areas.

Table 36.

Israel: Commodity Composition of Exports, 1997-2003 ^1/

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
		(In millions of U.S dollars)
Agricultural products		802	809	782	702	630	620	275	157	84
	Citrus fruit	166	150	134	92	82	58	25	11	3
	Other fruits and vegetables	199	233	239	237	247	240	131	61	24
	Other	437	426	409	372	301	322	118	86	57
Industrial products (excl. diamonds)		14,360	15,437	16,274	20,788	19,369	18,060	4,725	4,595	4,681
	Ores and minerals	422	442	418	451	420	446	118	177	160
	Food (incl. Beverages and tobacco)	527	476	439	444	427	429	125	124	128
	Textiles (incl. Clothing and leather)	998	1,064	1,136	1,144	1,041	1,003	261	233	250
	Other light industry products	1,689	1,665	1,803	1,880	1,890	2,006	513	528	559
	Chemicals	2,751	2,848	2,987	3,471	3,674	3,999	1,082	1,146	1,074
	Metals, machinery and electronics	7,932	8,965	9,506	13,387	12,038	10,315	2,625	2,395	2,519
Diamonds, net		5,097	4,345	5,681	6,816	5,672	6,931	2,012	1,743	2,011
Other exports, n.e.s		39	42	41	35	46	27	26	7	5
Total, net		20,298	20,633	22,778	28,341	25,718	25,639	7,037	6,503	6,780
		(In percent)
Agricultural products		4.0	3.9	3.4	2.5	2.5	2.4	3.9	2.4	1.2
	Citrus fruit	0.8	0.7	0.6	0.3	0.3	0.2	0.4	0.2	0.0
	Other fruits and vegetables	1.0	1.1	1.1	0.8	1.0	0.9	1.9	0.9	0.4
	Other	2.2	2.1	1.8	1.3	1.2	1.3	1.7	1.3	0.8
Industrial products (excl. diamonds)		70.7	74.8	71.4	73.3	75.3	70.4	67.1	70.7	69.0
	Ores and minerals	2.1	2.1	1.8	1.6	1.6	1.7	1.7	2.7	2.4
	Food (incl. Beverages and tobacco)	2.6	2.3	1.9	1.6	1.7	1.7	1.8	1.9	1.9
	Textiles (incl. Clothing and leather)	4.9	5.2	5.0	4.0	4.0	3.9	3.7	3.6	3.7
	Other light industry products	8.3	8.1	7.9	6.6	7.3	7.8	7.3	8.1	8.2
	Chemicals	13.6	13.8	13.1	12.2	14.3	15.6	15.4	17.6	15.8
	Metals, machinery and electronics	39.1	43.4	41.7	47.2	46.8	40.2	37.3	36.8	37.1
Diamonds, net		25.1	21.1	24.9	24.0	22.1	27.0	28.6	26.8	29.7
Other exports, n.e.s		0.2	0.2	0.2	0.1	0.2	0.1	0.4	0.1	0.1
Total, net		100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Sources: Central Bureau of Statistics; Foreign Trade Statistics Quarterly; and Monthly Bulletin of Statistics.

^{^1/}Excluding exports to the autonomy and administered areas.

Table 36.

Israel: Commodity Composition of Exports, 1997-2003 ^1/

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
		(In millions of U.S dollars)
Agricultural products		802	809	782	702	630	620	275	157	84
	Citrus fruit	166	150	134	92	82	58	25	11	3
	Other fruits and vegetables	199	233	239	237	247	240	131	61	24
	Other	437	426	409	372	301	322	118	86	57
Industrial products (excl. diamonds)		14,360	15,437	16,274	20,788	19,369	18,060	4,725	4,595	4,681
	Ores and minerals	422	442	418	451	420	446	118	177	160
	Food (incl. Beverages and tobacco)	527	476	439	444	427	429	125	124	128
	Textiles (incl. Clothing and leather)	998	1,064	1,136	1,144	1,041	1,003	261	233	250
	Other light industry products	1,689	1,665	1,803	1,880	1,890	2,006	513	528	559
	Chemicals	2,751	2,848	2,987	3,471	3,674	3,999	1,082	1,146	1,074
	Metals, machinery and electronics	7,932	8,965	9,506	13,387	12,038	10,315	2,625	2,395	2,519
Diamonds, net		5,097	4,345	5,681	6,816	5,672	6,931	2,012	1,743	2,011
Other exports, n.e.s		39	42	41	35	46	27	26	7	5
Total, net		20,298	20,633	22,778	28,341	25,718	25,639	7,037	6,503	6,780
		(In percent)
Agricultural products		4.0	3.9	3.4	2.5	2.5	2.4	3.9	2.4	1.2
	Citrus fruit	0.8	0.7	0.6	0.3	0.3	0.2	0.4	0.2	0.0
	Other fruits and vegetables	1.0	1.1	1.1	0.8	1.0	0.9	1.9	0.9	0.4
	Other	2.2	2.1	1.8	1.3	1.2	1.3	1.7	1.3	0.8
Industrial products (excl. diamonds)		70.7	74.8	71.4	73.3	75.3	70.4	67.1	70.7	69.0
	Ores and minerals	2.1	2.1	1.8	1.6	1.6	1.7	1.7	2.7	2.4
	Food (incl. Beverages and tobacco)	2.6	2.3	1.9	1.6	1.7	1.7	1.8	1.9	1.9
	Textiles (incl. Clothing and leather)	4.9	5.2	5.0	4.0	4.0	3.9	3.7	3.6	3.7
	Other light industry products	8.3	8.1	7.9	6.6	7.3	7.8	7.3	8.1	8.2
	Chemicals	13.6	13.8	13.1	12.2	14.3	15.6	15.4	17.6	15.8
	Metals, machinery and electronics	39.1	43.4	41.7	47.2	46.8	40.2	37.3	36.8	37.1
Diamonds, net		25.1	21.1	24.9	24.0	22.1	27.0	28.6	26.8	29.7
Other exports, n.e.s		0.2	0.2	0.2	0.1	0.2	0.1	0.4	0.1	0.1
Total, net		100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Sources: Central Bureau of Statistics; Foreign Trade Statistics Quarterly; and Monthly Bulletin of Statistics.

^{^1/}Excluding exports to the autonomy and administered areas.

Table 37.

Israel: Destination of Exports, 1997-2003

(In percent of total exports)

Sources: Central Bureau of Statistics; and Monthly Bulletin of Statistics.

^{^1/}Until October.

^{^2/}Iceland, Norway, and Switzerland.

Table 37.

Israel: Destination of Exports, 1997-2003

(In percent of total exports)

				1997	1998	1999	2000	2001	2002	2003 ^1/
Exports				100.0	100.0	100.0	100.0	100.0	100.0	100.0
Europe				37.9	38.0	36.2	33.2	32.0	30.7	32.9
	Of which:
		European Union		30.5	31.2	30.2	27.3	26.3	24.9	26.6
			Austria	0.4	0.4	0.4	0.3	0.3	0.3	0.2
			Belgium	5.0	4.8	5.5	6.0	5.4	6.3	7.3
			Denmark	0.2	0.3	0.3	0.2	0.2	0.2	0.2
			Finland	0.2	0.2	0.2	0.2	0.2	0.3	0.3
			France	2.8	2.9	2.7	2.4	2.5	2.2	2.2
			Germany	4.4	4.9	4.6	4.8	4.4	3.5	3.5
			Greece	0.8	0.6	0.6	0.5	0.6	0.5	0.6
			Ireland	0.9	0.9	1.2	1.0	0.6	0.2	0.3
			Italy	2.8	3.2	2.9	2.6	2.7	2.4	2.5
			Luxembourg	0.0	0.0	0.0	0.0	0.0	0.0	0.0
			Netherlands	4.5	4.9	3.9	2.9	2.9	3.1	3.5
			Portugal	0.3	0.3	0.3	0.2	0.2	0.1	0.1
			Spain	1.6	1.8	1.7	1.4	1.7	1.4	1.6
			Sweden	0.5	0.5	0.4	0.5	0.5	0.4	0.3
			United Kingdom	6.2	5.5	5.4	4.3	4.2	4.0	3.9
		EFTA countries ^2/		2.0	1.9	1.6	1.7	1.4	1.5	1.8
North, Central and South America				35.6	39.6	39.1	41.2	42.9	44.5	42.7
	Of which:
			United States	31.3	34.9	35.0	37.4	38.2	39.9	38.2
Asia				19.0	14.3	16.4	18.5	18.0	17.3	17.3
	Of which:
			Japan	4.6	3.3	3.4	2.7	2.8	2.2	1.9
Other countries				7.5	8.1	8.3	7.1	7.1	7.4	7.1

Sources: Central Bureau of Statistics; and Monthly Bulletin of Statistics.

^{^1/}Until October.

^{^2/}Iceland, Norway, and Switzerland.

Table 37.

Israel: Destination of Exports, 1997-2003

(In percent of total exports)

				1997	1998	1999	2000	2001	2002	2003 ^1/
Exports				100.0	100.0	100.0	100.0	100.0	100.0	100.0
Europe				37.9	38.0	36.2	33.2	32.0	30.7	32.9
	Of which:
		European Union		30.5	31.2	30.2	27.3	26.3	24.9	26.6
			Austria	0.4	0.4	0.4	0.3	0.3	0.3	0.2
			Belgium	5.0	4.8	5.5	6.0	5.4	6.3	7.3
			Denmark	0.2	0.3	0.3	0.2	0.2	0.2	0.2
			Finland	0.2	0.2	0.2	0.2	0.2	0.3	0.3
			France	2.8	2.9	2.7	2.4	2.5	2.2	2.2
			Germany	4.4	4.9	4.6	4.8	4.4	3.5	3.5
			Greece	0.8	0.6	0.6	0.5	0.6	0.5	0.6
			Ireland	0.9	0.9	1.2	1.0	0.6	0.2	0.3
			Italy	2.8	3.2	2.9	2.6	2.7	2.4	2.5
			Luxembourg	0.0	0.0	0.0	0.0	0.0	0.0	0.0
			Netherlands	4.5	4.9	3.9	2.9	2.9	3.1	3.5
			Portugal	0.3	0.3	0.3	0.2	0.2	0.1	0.1
			Spain	1.6	1.8	1.7	1.4	1.7	1.4	1.6
			Sweden	0.5	0.5	0.4	0.5	0.5	0.4	0.3
			United Kingdom	6.2	5.5	5.4	4.3	4.2	4.0	3.9
		EFTA countries ^2/		2.0	1.9	1.6	1.7	1.4	1.5	1.8
North, Central and South America				35.6	39.6	39.1	41.2	42.9	44.5	42.7
	Of which:
			United States	31.3	34.9	35.0	37.4	38.2	39.9	38.2
Asia				19.0	14.3	16.4	18.5	18.0	17.3	17.3
	Of which:
			Japan	4.6	3.3	3.4	2.7	2.8	2.2	1.9
Other countries				7.5	8.1	8.3	7.1	7.1	7.4	7.1

Sources: Central Bureau of Statistics; and Monthly Bulletin of Statistics.

^{^1/}Until October.

^{^2/}Iceland, Norway, and Switzerland.

Table 38.

Israel: Civilian Import Volume and Price Indicators, 2001-03

Sources: Central Bureau of Statistics; Foreingn Trade Statistics Quarterly; and Monthly Bulletin of Statistics.

^{^1/}Value data deflated by paasche unit value indices.

^{^2/}Based on data in U.S dollars.

Table 38.

Israel: Civilian Import Volume and Price Indicators, 2001-03

			2001	2002		2003
					QI	QII	QIII
Volume indicators ^1/
	Consumer goods		5.1	-6.9	-3.9	0	14.7
		Nondurables	10.9	-0.5	4.9	-3.6	12.3
		Durables	-1.3	-14.9	-16.2	6.4	18.5
	Input goods, net		-11.1	5.6	-12.7	0.2	6.2
		Diamonds	-20.8	31.5	-29.8	-0.9	16.7
		Fuel	-0.3	-1.9	4.7	-4.5	7
		Other	-9.6	-3	-5.5	2.5	0.2
	Investment goods		8.3	-14.5	-17.6	10	-12.6
		Machinary and equipment	2.4	-8.3	-14.4	11.5	-18.1
Total imports, net			-5.7	-0.2	-12.4	1.6	3.9
Total, excluding diamonds			-2.4	-6.1	-6.6	2.4	0.7
Price indicators ^2/
	Consumer goods		-1.5	0	1.4	1.2	-0.4
		Nondurables	-2.5	-1.1	1.1	0.8	-0.2
		Durables	-0.2	1.8	2.6	1.3	-0.8
	Input goods, net		-1.8	-0.9	4.6	-0.2	1.5
		Diamonds	2.5	-0.3	2.5	3.2	1.8
		Fuel	-11.3	0.5	13.5	-17.2	10.6
		Other	-0.8	-1.4	3.4	3	-0.6
Investment goods			-1.1	2.4	0	2.3	-0.2
	Machinary and equipment		-1.4	2.3	-0.7	2	-0.1
Total imports, net			-1.6	-0.2	3.2	0.5	1
Total, excluding diamonds			-2.3	-0.5	3.4	-0.2	0.6

Sources: Central Bureau of Statistics; Foreingn Trade Statistics Quarterly; and Monthly Bulletin of Statistics.

^{^1/}Value data deflated by paasche unit value indices.

^{^2/}Based on data in U.S dollars.

Table 38.

Israel: Civilian Import Volume and Price Indicators, 2001-03

			2001	2002		2003
					QI	QII	QIII
Volume indicators ^1/
	Consumer goods		5.1	-6.9	-3.9	0	14.7
		Nondurables	10.9	-0.5	4.9	-3.6	12.3
		Durables	-1.3	-14.9	-16.2	6.4	18.5
	Input goods, net		-11.1	5.6	-12.7	0.2	6.2
		Diamonds	-20.8	31.5	-29.8	-0.9	16.7
		Fuel	-0.3	-1.9	4.7	-4.5	7
		Other	-9.6	-3	-5.5	2.5	0.2
	Investment goods		8.3	-14.5	-17.6	10	-12.6
		Machinary and equipment	2.4	-8.3	-14.4	11.5	-18.1
Total imports, net			-5.7	-0.2	-12.4	1.6	3.9
Total, excluding diamonds			-2.4	-6.1	-6.6	2.4	0.7
Price indicators ^2/
	Consumer goods		-1.5	0	1.4	1.2	-0.4
		Nondurables	-2.5	-1.1	1.1	0.8	-0.2
		Durables	-0.2	1.8	2.6	1.3	-0.8
	Input goods, net		-1.8	-0.9	4.6	-0.2	1.5
		Diamonds	2.5	-0.3	2.5	3.2	1.8
		Fuel	-11.3	0.5	13.5	-17.2	10.6
		Other	-0.8	-1.4	3.4	3	-0.6
Investment goods			-1.1	2.4	0	2.3	-0.2
	Machinary and equipment		-1.4	2.3	-0.7	2	-0.1
Total imports, net			-1.6	-0.2	3.2	0.5	1
Total, excluding diamonds			-2.3	-0.5	3.4	-0.2	0.6

Sources: Central Bureau of Statistics; Foreingn Trade Statistics Quarterly; and Monthly Bulletin of Statistics.

^{^1/}Value data deflated by paasche unit value indices.

^{^2/}Based on data in U.S dollars.

Table 39.

Israel: Commodity Composition of Civilian Imports, 1997-2003 ^1/

Sources: Central Bureau of Statistics, and Monthly Bulletin of Statistics.

^{^1/}Excluding imports to the autonomy and administered areas.

Table 39.

Israel: Commodity Composition of Civilian Imports, 1997-2003 ^1/

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
		(In millions of U.S. dollars)
Consumer goods		3,876	3,875	3,951	4,498	4,656	4,335	992	1,004	1,147
	Nondurables	2,070	2,146	2,155	2,363	2,554	2,513	615	598	670
	Durables	1,806	1,729	1,796	2,135	2,102	1,822	377	406	478
Input goods, net		19,907	18,488	20,537	24,551	21,434	22,431	5,683	5,683	6,125
	Diamonds	4,779	3,839	5,456	6,358	5,164	6,772	1,609	1,646	1,955
	Fuel	2,260	1,800	2,109	3,498	3,095	3,052	1,000	791	936
	Other	12,868	12,849	12,972	14,695	13,176	12,607	3,075	3,246	3,234
Investment goods		4,897	4,635	6,124	6,149	6,586	5,767	1,279	1,440	1,256
Machinary and equipment		3,558	3,661	4,500	4,764	4,809	4,511	1,088	1,238	1,013
Total imports, net		28,683	27,011	30,630	35,221	32,696	32,557	7,963	8,134	8,534
Total, excluding diamonds		23,904	23,171	25,174	28,863	27,532	25,784	6,354	6,488	6,579
		(In percent)
Consumer goods		13.5	14.3	12.9	12.8	14.2	13.3	12.5	12.3	13.4
	Nondurables	7.2	7.9	7.0	6.7	7.8	7.7	7.7	7.3	7.8
	Durables	6.3	6.4	5.9	6.1	6.4	5.6	4.7	5.0	5.6
Input goods, net		69.4	68.4	67.1	69.7	65.6	68.9	71.4	69.9	71.8
	Diamonds	16.7	14.2	17.8	18.1	15.8	20.8	20.2	20.2	22.9
	Fuel	7.9	6.7	6.9	9.9	9.5	9.4	12.6	9.7	11.0
	Other	44.9	47.6	42.4	41.7	40.3	38.7	38.6	39.9	37.9
Investment goods		17.1	17.2	20.0	17.5	20.1	17.7	16.1	17.7	14.7
Machinary and equipment		12.4	13.6	14.7	13.5	14.7	13.9	13.7	15.2	11.9
Total imports, net		100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Sources: Central Bureau of Statistics, and Monthly Bulletin of Statistics.

^{^1/}Excluding imports to the autonomy and administered areas.

Table 39.

Israel: Commodity Composition of Civilian Imports, 1997-2003 ^1/

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
		(In millions of U.S. dollars)
Consumer goods		3,876	3,875	3,951	4,498	4,656	4,335	992	1,004	1,147
	Nondurables	2,070	2,146	2,155	2,363	2,554	2,513	615	598	670
	Durables	1,806	1,729	1,796	2,135	2,102	1,822	377	406	478
Input goods, net		19,907	18,488	20,537	24,551	21,434	22,431	5,683	5,683	6,125
	Diamonds	4,779	3,839	5,456	6,358	5,164	6,772	1,609	1,646	1,955
	Fuel	2,260	1,800	2,109	3,498	3,095	3,052	1,000	791	936
	Other	12,868	12,849	12,972	14,695	13,176	12,607	3,075	3,246	3,234
Investment goods		4,897	4,635	6,124	6,149	6,586	5,767	1,279	1,440	1,256
Machinary and equipment		3,558	3,661	4,500	4,764	4,809	4,511	1,088	1,238	1,013
Total imports, net		28,683	27,011	30,630	35,221	32,696	32,557	7,963	8,134	8,534
Total, excluding diamonds		23,904	23,171	25,174	28,863	27,532	25,784	6,354	6,488	6,579
		(In percent)
Consumer goods		13.5	14.3	12.9	12.8	14.2	13.3	12.5	12.3	13.4
	Nondurables	7.2	7.9	7.0	6.7	7.8	7.7	7.7	7.3	7.8
	Durables	6.3	6.4	5.9	6.1	6.4	5.6	4.7	5.0	5.6
Input goods, net		69.4	68.4	67.1	69.7	65.6	68.9	71.4	69.9	71.8
	Diamonds	16.7	14.2	17.8	18.1	15.8	20.8	20.2	20.2	22.9
	Fuel	7.9	6.7	6.9	9.9	9.5	9.4	12.6	9.7	11.0
	Other	44.9	47.6	42.4	41.7	40.3	38.7	38.6	39.9	37.9
Investment goods		17.1	17.2	20.0	17.5	20.1	17.7	16.1	17.7	14.7
Machinary and equipment		12.4	13.6	14.7	13.5	14.7	13.9	13.7	15.2	11.9
Total imports, net		100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Sources: Central Bureau of Statistics, and Monthly Bulletin of Statistics.

^{^1/}Excluding imports to the autonomy and administered areas.

Table 40.

Israel: Origin of Imports, 1997-2003

(In percent of total imports)

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Until October.

^{^2/}Iceland, Norway, and Switzerland.

Table 40.

Israel: Origin of Imports, 1997-2003

(In percent of total imports)

					1997	1998	1999	2000	2001	2002	2003 ^1/
Imports					100.0	100.0	100.0	100.0	100.0	100.0	100.0
	Europe				59.8	58.1	56.2	53.0	52.4	53.0	53.3
		Of which:
			European Union		51.1	48.5	46.3	43.3	41.8	40.8	41.0
				Austria	0.5	0.4	0.3	0.3	0.4	0.4	0.4
				Belgium	12.4	10.4	11.3	9.9	7.9	9.1	9.1
				Denmark	0.5	0.6	0.4	0.4	0.5	0.6	0.4
				Finland	0.9	0.9	0.9	0.8	0.9	0.8	0.7
				France	3.8	4.1	3.9	3.2	3.8	3.6	3.5
				Germany	9.6	8.8	8.1	7.5	7.9	7.1	8.0
				Greece	0.4	0.5	0.4	0.4	0.4	0.4	0.5
				Ireland	0.6	0.8	0.9	0.9	0.9	0.8	0.8
				Italy	6.9	6.7	5.3	4.8	5.0	4.6	4.1
				Luxembourg	0.1	0.1	0.1	0.0	0.1	0.1	0.1
				Netherlands	3.8	4.2	3.8	4.0	4.1	3.6	3.5
				Portugal	0.4	0.4	0.3	0.2	0.2	0.2	0.2
				Spain	2.1	2.3	1.9	1.9	2.0	1.9	1.8
				Sweden	1.0	1.1	1.1	1.2	1.3	0.9	0.9
				United Kingdom	8.3	7.5	7.5	7.6	6.6	6.7	7.0
			EFTA countries ^2/		5.7	5.8	5.8	5.6	5.6	6.5	5.9
North, Central and South America					20.8	22.1	22.5	20.5	22.1	20.9	17.8
		Of which:
			United States		18.7	19.6	20.3	18.6	20.1	18.5	15.8
Asia					10.8	12.4	13.1	14.6	14.1	15.4	16.1
		Of which:
			Japan		3.6	3.6	3.5	3.3	3.0	2.4	2.5
Other countries					8.5	7.3	8.1	12.0	11.5	10.7	12.8

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Until October.

^{^2/}Iceland, Norway, and Switzerland.

Table 40.

Israel: Origin of Imports, 1997-2003

(In percent of total imports)

					1997	1998	1999	2000	2001	2002	2003 ^1/
Imports					100.0	100.0	100.0	100.0	100.0	100.0	100.0
	Europe				59.8	58.1	56.2	53.0	52.4	53.0	53.3
		Of which:
			European Union		51.1	48.5	46.3	43.3	41.8	40.8	41.0
				Austria	0.5	0.4	0.3	0.3	0.4	0.4	0.4
				Belgium	12.4	10.4	11.3	9.9	7.9	9.1	9.1
				Denmark	0.5	0.6	0.4	0.4	0.5	0.6	0.4
				Finland	0.9	0.9	0.9	0.8	0.9	0.8	0.7
				France	3.8	4.1	3.9	3.2	3.8	3.6	3.5
				Germany	9.6	8.8	8.1	7.5	7.9	7.1	8.0
				Greece	0.4	0.5	0.4	0.4	0.4	0.4	0.5
				Ireland	0.6	0.8	0.9	0.9	0.9	0.8	0.8
				Italy	6.9	6.7	5.3	4.8	5.0	4.6	4.1
				Luxembourg	0.1	0.1	0.1	0.0	0.1	0.1	0.1
				Netherlands	3.8	4.2	3.8	4.0	4.1	3.6	3.5
				Portugal	0.4	0.4	0.3	0.2	0.2	0.2	0.2
				Spain	2.1	2.3	1.9	1.9	2.0	1.9	1.8
				Sweden	1.0	1.1	1.1	1.2	1.3	0.9	0.9
				United Kingdom	8.3	7.5	7.5	7.6	6.6	6.7	7.0
			EFTA countries ^2/		5.7	5.8	5.8	5.6	5.6	6.5	5.9
North, Central and South America					20.8	22.1	22.5	20.5	22.1	20.9	17.8
		Of which:
			United States		18.7	19.6	20.3	18.6	20.1	18.5	15.8
Asia					10.8	12.4	13.1	14.6	14.1	15.4	16.1
		Of which:
			Japan		3.6	3.6	3.5	3.3	3.0	2.4	2.5
Other countries					8.5	7.3	8.1	12.0	11.5	10.7	12.8

Source: Central Bureau of Statistics, Monthly Bulletin of Statistics.

^{^1/}Until October.

^{^2/}Iceland, Norway, and Switzerland.

Table 41.

Israel: Capital Account Transactions, 1999-2003 1/

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 41.

Israel: Capital Account Transactions, 1999-2003 1/

							1999	2000	2001	2002	2003
											QI	QII
							(In millions of U.S. dollars)
Net financial transactions							3,672	3,293	344	-993	-391	-714
Net financial transactions (excl. reserve assets)							4,601	4,054	194	-1,739	-803	-393
	Direct investments						2,136	1,548	2,715	417	525	1,229
		In Israel					3,068	4,988	3,520	1,649	764	1,532
		Abroad					932	3,440	805	1,232	239	303
	Portfolio investments						1,918	2,229	-1,487	-1,909	183	-474
		In Israel					2,598	5,034	122	773	-230	-68
		Abroad					680	2,805	1,609	2,682	-413	406
	Other investments						696	-387	-1,544	-438	-1,724	-1,354
		In Israel					3,492	1,666	1,166	1,176	-650	244
			Government				374	-81	125	-33	166	27
				Of which:
					Long term
					Short term		-44	7	-8	25	63	-37
		Banks					2,385	1,657	1,271	117	-751	128
			Of which:
				Other sectors
						Long term	-67	-116	104	121	78	149
						Short term	844	199	-326	946	-206	-23
	Abroad						2,796	2,053	2,710	1,614	1,074	1,598
		Government					458	1	561	-110	-641	-18
		Banks					758	1,189	392	-340	1,093	1,235
		Other sectors					1,580	863	1,757	2,064	622	381
Financial Derivatives							-149	664	510	191	213	206
Reserve Assets							-929	-761	150	746	412	-321

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 41.

Israel: Capital Account Transactions, 1999-2003 1/

							1999	2000	2001	2002	2003
											QI	QII
							(In millions of U.S. dollars)
Net financial transactions							3,672	3,293	344	-993	-391	-714
Net financial transactions (excl. reserve assets)							4,601	4,054	194	-1,739	-803	-393
	Direct investments						2,136	1,548	2,715	417	525	1,229
		In Israel					3,068	4,988	3,520	1,649	764	1,532
		Abroad					932	3,440	805	1,232	239	303
	Portfolio investments						1,918	2,229	-1,487	-1,909	183	-474
		In Israel					2,598	5,034	122	773	-230	-68
		Abroad					680	2,805	1,609	2,682	-413	406
	Other investments						696	-387	-1,544	-438	-1,724	-1,354
		In Israel					3,492	1,666	1,166	1,176	-650	244
			Government				374	-81	125	-33	166	27
				Of which:
					Long term
					Short term		-44	7	-8	25	63	-37
		Banks					2,385	1,657	1,271	117	-751	128
			Of which:
				Other sectors
						Long term	-67	-116	104	121	78	149
						Short term	844	199	-326	946	-206	-23
	Abroad						2,796	2,053	2,710	1,614	1,074	1,598
		Government					458	1	561	-110	-641	-18
		Banks					758	1,189	392	-340	1,093	1,235
		Other sectors					1,580	863	1,757	2,064	622	381
Financial Derivatives							-149	664	510	191	213	206
Reserve Assets							-929	-761	150	746	412	-321

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 42.

Israel: Indicators of External Indebtedness, 1997-2003

(In millions of U.S dollars)

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; data provided by the Bank of Israel; and the staff calculations.

^{^1/}Net foreign assets of commercial banks’ Bank of Israel’s reserves, holdings of other monetary institutions, and nonofinancial private sector.

Table 42.

Israel: Indicators of External Indebtedness, 1997-2003

(In millions of U.S dollars)

				1998	1999	2000	2001	2002	2003
									QI	QII	QIII
Gross external liabilities
	Amount			58,162	62,526	64,706	65,039	67,561	68,470	67,140	68,470
	Percentage increase			5.4	7.5	3.5	0.5	3.9	1.3	…	…
	Percent of GDP			56.3	60.3	56.4	57.7	65.2	62.8	64.5	65.8
Gross external liabilities minus foreign assets of commercial banks
	Amount			44,917	48,251	49,031	49,466	52,196	50,772	50,912	50,772
	Percentage increase			1.9	7.4	1.6	0.9	5.5	-2.7	…	…
	Percent of GDP			43.4	46.5	42.7	43.9	50.3	46.5	48.9	48.8
Net external liabilities ^1/
	Amount			11,295	7,322	3,713	210	-3,047	-5,902	-4,803	-5,902
	Percent of GDP			10.9	7.1	3.2	0.2	-2.9	-5.4	-4.6	-5.7
Memorandum items:
	Foreign assets			46,868	55,204	60,993	64,829	70,608	74,372	71,943	74,372
		Of which:
			Commercial banks	13,246	14,274	15,675	15,573	15,365	17,698	16,228	17,698
			Bank of Israel	22,675	22,597	23,276	23,381	24,087	24,572	23,943	24,572

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; data provided by the Bank of Israel; and the staff calculations.

^{^1/}Net foreign assets of commercial banks’ Bank of Israel’s reserves, holdings of other monetary institutions, and nonofinancial private sector.

Table 42.

Israel: Indicators of External Indebtedness, 1997-2003

(In millions of U.S dollars)

				1998	1999	2000	2001	2002	2003
									QI	QII	QIII
Gross external liabilities
	Amount			58,162	62,526	64,706	65,039	67,561	68,470	67,140	68,470
	Percentage increase			5.4	7.5	3.5	0.5	3.9	1.3	…	…
	Percent of GDP			56.3	60.3	56.4	57.7	65.2	62.8	64.5	65.8
Gross external liabilities minus foreign assets of commercial banks
	Amount			44,917	48,251	49,031	49,466	52,196	50,772	50,912	50,772
	Percentage increase			1.9	7.4	1.6	0.9	5.5	-2.7	…	…
	Percent of GDP			43.4	46.5	42.7	43.9	50.3	46.5	48.9	48.8
Net external liabilities ^1/
	Amount			11,295	7,322	3,713	210	-3,047	-5,902	-4,803	-5,902
	Percent of GDP			10.9	7.1	3.2	0.2	-2.9	-5.4	-4.6	-5.7
Memorandum items:
	Foreign assets			46,868	55,204	60,993	64,829	70,608	74,372	71,943	74,372
		Of which:
			Commercial banks	13,246	14,274	15,675	15,573	15,365	17,698	16,228	17,698
			Bank of Israel	22,675	22,597	23,276	23,381	24,087	24,572	23,943	24,572

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; data provided by the Bank of Israel; and the staff calculations.

^{^1/}Net foreign assets of commercial banks’ Bank of Israel’s reserves, holdings of other monetary institutions, and nonofinancial private sector.

Table 43.

Israel: Assets and Liabilities in Foreign Currency, 1997-2003

(In millions of U.S dollars)

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 43.

Israel: Assets and Liabilities in Foreign Currency, 1997-2003

(In millions of U.S dollars)

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
1. Gross liabilities		55,194	58,162	62,526	64,706	65,039	67,561	68,470	67,140	68,470
	Government	26,187	27,604	27,778	27,444	26,865	27,320	28,098	27,428	28,098
	Nonfinancial private sector	11,456	11,367	13,513	14,577	14,367	15,720	16,109	15,828	16,109
	Bank of Israel	30	21	17	17	16	16	15	15	15
	Banks	17,520	19,170	21,218	22,668	23,790	24,505	24,248	23,869	24,248
2. Gross assets		40,478	46,868	55,204	60,993	64,829	70,608	74,372	71,943	74,372
	Bank of Israel reserves	20,333	22,675	22,597	23,276	23,381	24,087	24,572	23,943	24,572
	Other monetary institutions	238	215	197	179	165	152	147	152	147
	Nonfinancial private sector	8,561	10,345	17,481	21,348	25,301	30,658	31,842	31,492	31,842
	Banking system	11,104	13,246	14,274	15,675	15,573	15,365	17,698	16,228	17,698
3. Net liabilities (3=1-2)		14,716	11,295	7,322	3,713	210	-3,047	-5,902	-4,803	-5,902

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 43.

Israel: Assets and Liabilities in Foreign Currency, 1997-2003

(In millions of U.S dollars)

		1997	1998	1999	2000	2001	2002	2003
								QI	QII	QIII
1. Gross liabilities		55,194	58,162	62,526	64,706	65,039	67,561	68,470	67,140	68,470
	Government	26,187	27,604	27,778	27,444	26,865	27,320	28,098	27,428	28,098
	Nonfinancial private sector	11,456	11,367	13,513	14,577	14,367	15,720	16,109	15,828	16,109
	Bank of Israel	30	21	17	17	16	16	15	15	15
	Banks	17,520	19,170	21,218	22,668	23,790	24,505	24,248	23,869	24,248
2. Gross assets		40,478	46,868	55,204	60,993	64,829	70,608	74,372	71,943	74,372
	Bank of Israel reserves	20,333	22,675	22,597	23,276	23,381	24,087	24,572	23,943	24,572
	Other monetary institutions	238	215	197	179	165	152	147	152	147
	Nonfinancial private sector	8,561	10,345	17,481	21,348	25,301	30,658	31,842	31,492	31,842
	Banking system	11,104	13,246	14,274	15,675	15,573	15,365	17,698	16,228	17,698
3. Net liabilities (3=1-2)		14,716	11,295	7,322	3,713	210	-3,047	-5,902	-4,803	-5,902

Sources: Central Bureau of Statistics, Monthly Bulletin of Statistics; and data provided by the Bank of Israel.

Table 44.

Israel: Official Gold and Convertible Foreign Exchange Reserves, 1997-2003

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

^{^1/}National value.

^{^2/}At the Bank of Israel.

^{^3/}Gold plus foreign exchange.

Table 44.

Israel: Official Gold and Convertible Foreign Exchange Reserves, 1997-2003

		Gold ^1/	SDRs	Reserve position in the Fund	Foreign exchange ^2/	Total ^3/
		(In millions of U.S. dollars; end of period)
1997		0.4	0.0	0.0	20,332	20,332
1998		0.0	0.3	0.0	22,674	22,674
1999		0.0	0.2	89.9	22,515	22,515
2000		0.0	1.1	117.1	23,163	23,163
2001		0.0	1.7	197.8	23,179	23,179
2002		0.0	4.6	413.3	23,658	23,658
2000
	I	0.0	0.3	88.2	22,677	22,677
	II	0.0	0.2	87.6	22,186	22,186
	III	0.0	0.3	85.0	22,075	22,075
	IV	0.0	1.1	117.1	23,163	23,164
2001
	I	0.0	0.3	113.3	23,839	23,839
	II	0.0	0.9	134.1	23,071	23,072
	III	0.0	1.9	170.6	24,475	24,477
	IV	0.0	1.7	197.8	23,179	23,181
2002
	I	0.0	1.8	278.1	23,942	23,943
	II	0.0	2.4	379.4	24,782	24,785
	III	0.0	3.3	401.8	24,218	24,221
	IV	0.0	4.6	413.1	23,664	23,669
2003
	I	0.0	5.7	456.1	23,478	23,484
	II	0.0	6.8	476.4	24,082	24,087
	III	0.0	8.0	529.1	24,757	24,763
	IV	0.0	9.5	527.2	25,774	24,763

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

^{^1/}National value.

^{^2/}At the Bank of Israel.

^{^3/}Gold plus foreign exchange.

Table 44.

Israel: Official Gold and Convertible Foreign Exchange Reserves, 1997-2003

		Gold ^1/	SDRs	Reserve position in the Fund	Foreign exchange ^2/	Total ^3/
		(In millions of U.S. dollars; end of period)
1997		0.4	0.0	0.0	20,332	20,332
1998		0.0	0.3	0.0	22,674	22,674
1999		0.0	0.2	89.9	22,515	22,515
2000		0.0	1.1	117.1	23,163	23,163
2001		0.0	1.7	197.8	23,179	23,179
2002		0.0	4.6	413.3	23,658	23,658
2000
	I	0.0	0.3	88.2	22,677	22,677
	II	0.0	0.2	87.6	22,186	22,186
	III	0.0	0.3	85.0	22,075	22,075
	IV	0.0	1.1	117.1	23,163	23,164
2001
	I	0.0	0.3	113.3	23,839	23,839
	II	0.0	0.9	134.1	23,071	23,072
	III	0.0	1.9	170.6	24,475	24,477
	IV	0.0	1.7	197.8	23,179	23,181
2002
	I	0.0	1.8	278.1	23,942	23,943
	II	0.0	2.4	379.4	24,782	24,785
	III	0.0	3.3	401.8	24,218	24,221
	IV	0.0	4.6	413.1	23,664	23,669
2003
	I	0.0	5.7	456.1	23,478	23,484
	II	0.0	6.8	476.4	24,082	24,087
	III	0.0	8.0	529.1	24,757	24,763
	IV	0.0	9.5	527.2	25,774	24,763

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

^{^1/}National value.

^{^2/}At the Bank of Israel.

^{^3/}Gold plus foreign exchange.

Other Publishers

Save
Cite
Email this content

Share Link

Copy this link, or click below to email it to a friend
Email this content
or copy the link directly:

https://www.elibrary.imf.org/view/journals/002/2004/173/article-A001-en.xml
The link was not copied. Your current browser may not support copying via this button.

Link copied successfully

Collapse
Expand

Israel: Statistical Appendix

Author:

International Monetary Fund

Volume/Issue:: Volume 2004: Issue 173

Publisher:: International Monetary Fund

ISBN:: 9781451819557

ISSN:: 1934-7685

Pages:: 49

DOI:: https://doi.org/10.5089/9781451819557.002

Keywords

Table 44.

Israel: Official Gold and Convertible Foreign Exchange Reserves, 1997-2003

		Gold ^1/	SDRs	Reserve position in the Fund	Foreign exchange ^2/	Total ^3/
		(In millions of U.S. dollars; end of period)
1997		0.4	0.0	0.0	20,332	20,332
1998		0.0	0.3	0.0	22,674	22,674
1999		0.0	0.2	89.9	22,515	22,515
2000		0.0	1.1	117.1	23,163	23,163
2001		0.0	1.7	197.8	23,179	23,179
2002		0.0	4.6	413.3	23,658	23,658
2000
	I	0.0	0.3	88.2	22,677	22,677
	II	0.0	0.2	87.6	22,186	22,186
	III	0.0	0.3	85.0	22,075	22,075
	IV	0.0	1.1	117.1	23,163	23,164
2001
	I	0.0	0.3	113.3	23,839	23,839
	II	0.0	0.9	134.1	23,071	23,072
	III	0.0	1.9	170.6	24,475	24,477
	IV	0.0	1.7	197.8	23,179	23,181
2002
	I	0.0	1.8	278.1	23,942	23,943
	II	0.0	2.4	379.4	24,782	24,785
	III	0.0	3.3	401.8	24,218	24,221
	IV	0.0	4.6	413.1	23,664	23,669
2003
	I	0.0	5.7	456.1	23,478	23,484
	II	0.0	6.8	476.4	24,082	24,087
	III	0.0	8.0	529.1	24,757	24,763
	IV	0.0	9.5	527.2	25,774	24,763

Sources: IMF, International Financial Statistics; and data provided by the Bank of Israel.

^{^1/}National value.

^{^2/}At the Bank of Israel.

^{^3/}Gold plus foreign exchange.

Topics

Countries

Series

About

Resources

Abstract

Same Series

Other IMF Content

Other Publishers

Asian Development Bank

Food and Agriculture Organization

Inter-American Development Bank

International Labour Organization

Nordic Council of Ministers

The World Bank

Share Link

Table of Contents

Headings

Metrics