Israel's gross Value Added (GVA) at basic prices (constant LCU) was 1.54 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is up 40.82% from 1.09 trillion in 2014 (3.48% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1.54 trillion | 2024 |
| Five years earlier | 1.31 trillion | 2019 |
| Ten years earlier | 1.09 trillion | 2014 |
| Highest | 1.54 trillion | 2024 |
| Lowest | 533.31 billion | 1995 |
| Average since 2015 | 1.33 trillion | 2015–2024 |
| First recorded | 533.31 billion |
What the numbers say
In 2024, Israel's gross Value Added (GVA) at basic prices (constant LCU) rose 0.9% on 2023 (from 1.52 trillion to 1.54 trillion).
Across the 28 yearly changes before that (1996 to 2023), the average change was +3.8% and a typical year strayed about 2.3% from that (the standard deviation). This year's change was 1.3 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 8.9% in 2021 and the biggest yearly fall was 1.4% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 49.14 billion a year. A straight line explains 97% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about 1.68 trillion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 66.88 billion, against 114.27 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2024, Israel had the 5th highest value of the 25 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Israel in the 2024 ranking
- Japan — 1st of 25: 587.58 trillion
- Lebanon — 2nd of 25: 39.13 trillion
- United Arab Emirates — 3rd of 25: 1.78 trillion
- Afghanistan — 5th of 25: 1.02 trillion
- Macao SAR, China — 6th of 25: 383.29 billion
- New Zealand — 7th of 25: 328.39 billion
What this measures
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 30 values
| Year | Gross Value Added (GVA) at basic prices (constant LCU) |
|---|---|
| 2024 | 1,539,249,515,000 |
| 2023 | 1,524,843,076,000 |
| 2022 | 1,488,696,446,000 |
| 2021 | 1,403,323,970,000 |
| 2020 | 1,288,821,575,000 |
| 2019 | 1,306,747,889,000 |
| 2018 | 1,263,739,255,000 |
| 2017 | 1,215,304,738,000 |
| 2016 | 1,161,083,522,000 |
| 2015 | 1,117,630,654,000 |
Gross Value Added (GVA) at basic prices (constant LCU) in nearby economies
- Afghanistan — 1.02 trillion (2024)
- Algeria — 8.69 trillion (2025)
- Bahrain — 14.99 billion (2025)
- Djibouti — 664.36 billion (2025)
- Egypt, Arab Rep. — 8.25 trillion (2025)
- Iran, Islamic Rep. — 76,213.2 trillion (2025)
- Iraq — 207.34 trillion (2025)
- Jordan — 37.56 billion (2025)
- Kuwait — 46.31 billion (2025)
- Lebanon
More economic policy & debt data for Israel
- Portfolio equity, net inflows (BoP, current US$) — US$4.91 billion (2025)
- Total reserves, including gold (current US$) — US$229.49 billion (2025)
- Total reserves, excluding gold (current US$) — US$229.49 billion (2025)
- Gross fixed capital formation (current US$) — US$145.39 billion (2025)
- Gross fixed capital formation (current LCU) — 501.88 billion (2025)
- Gross fixed capital formation (constant 2015 US$) — US$102.07 billion (2025)
- Gross fixed capital formation (constant LCU) — 412.25 billion (2025)
- Gross fixed capital formation (% of GDP) — 23.8% (2025)
- Changes in inventories (current US$) — US$3.31 billion (2025)
Reading data like this
Questions people ask
- What is Israel's gross Value Added (GVA) at basic prices (constant LCU)?
- 1.54 trillion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1995?
- It is up 188.62% from 533.31 billion in 1995 (3.72% a year on average, compounded). The highest value was 1.54 trillion in 2024 and the lowest 533.31 billion in 1995.
Source
World Bank, World Development Indicators, indicator NY.GDP.FCST.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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