Israel's gross Value Added (GVA) at basic prices (current US$) was US$495.42 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 76.24% from US$281.1 billion in 2014 (5.83% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$495.42 billion | 2024 |
| Five years earlier | US$362.3 billion | 2019 |
| Ten years earlier | US$281.1 billion | 2014 |
| Highest | US$495.42 billion | 2024 |
| Lowest | US$93.41 billion | 1995 |
| Average since 2015 | US$384.86 billion | 2015–2024 |
| First recorded | US$93.41 billion |
What the numbers say
In 2024, Israel's gross Value Added (GVA) at basic prices (current US$) rose 4.9% on 2023 (from US$472.09 billion to US$495.42 billion).
Across the 28 yearly changes before that (1996 to 2023), the average change was +6.2% and a typical year strayed about 6.8% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 19.8% in 2008 and the biggest yearly fall was 7.8% in 2002. 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 US$26.7 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.
How it compares
In 2024, Israel had the 4th highest value of the 30 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.
| Value | Year | |
|---|---|---|
| Israel | US$495.42 billion | 2024 |
| World | US$97.78 trillion | 2024 |
| High income | US$58.99 trillion | 2021 |
Closest to Israel in the 2024 ranking
- Japan — 1st of 30: US$4.16 trillion
- United Arab Emirates — 2nd of 30: US$552.33 billion
- Hong Kong SAR, China — 4th of 30: US$398.8 billion
- Peru — 5th of 30: US$270.33 billion
- Bolivia — 6th of 30: US$51.29 billion
What this measures
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Regional and income-group figures are computed by the World Bank as a gap-filled total.
All 30 values
| Year | Gross Value Added (GVA) at basic prices (current US$) |
|---|---|
| 2024 | 495,415,781,070 |
| 2023 | 472,087,156,634 |
| 2022 | 477,395,359,790 |
| 2021 | 445,193,573,403 |
| 2020 | 374,395,591,460 |
| 2019 | 362,299,896,851 |
| 2018 | 339,499,300,921 |
| 2017 | 322,688,037,028 |
| 2016 | 288,012,512,216 |
| 2015 | 271,568,217,486 |
Gross Value Added (GVA) at basic prices (current US$) in nearby economies
- Afghanistan — US$16.71 billion (2024)
- Algeria — US$272.66 billion (2025)
- Bahrain — US$46.9 billion (2025)
- Djibouti — US$4.37 billion (2025)
- Egypt, Arab Rep. — US$350.36 billion (2025)
- Iran, Islamic Rep. — US$353 billion (2025)
- Iraq — US$254.37 billion (2025)
- Jordan — US$55.26 billion (2025)
- Kuwait — US$169 billion (2025)
- Lebanon
More economic policy & debt data for Israel
- Portfolio equity, net inflows (BoP, current US$) — 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$3.31 billion (2025)
Reading data like this
Questions people ask
- What is Israel's gross Value Added (GVA) at basic prices (current US$)?
- US$495.42 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1995?
- It is up 430.37% from US$93.41 billion in 1995 (5.92% a year on average, compounded). The highest value was US$495.42 billion in 2024 and the lowest US$93.41 billion in 1995.
- How does Israel rank?
- 4th highest of 30 economies with data for 2024.
- Is the latest change in gross Value Added (GVA) at basic prices (current US$) unusual for Israel?
- In 2024, Israel's gross Value Added (GVA) at basic prices (current US$) rose 4.9% on 2023 (from US$472.09 billion to US$495.42 billion). Across the 28 yearly changes before that (1996 to 2023), the average change was +6.2% and a typical year strayed about 6.8% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NY.GDP.FCST.CD, 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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