|High technology products|
Israel is a small yet diverse Middle Eastern country with a long coastline on the eastern Mediterranean Sea. Israel is bordered by Egypt and the Gaza Strip to the southwest, by Jordan to the east, and by Syria and Lebanon to the north. Israel was established as a state for the Jewish people, Israel is considered part of the Holy Land. Israel is a highly urbanized and economically developed society and is, therefore, best divided for the traveler into its main cities and towns, followed by the regions and other sites.
The economy of Israel is technologically advanced by global standards. As of 2015, Israel ranks in the top 20 nations in the world on the UN's Human Development Index, which places it in the category of "Very Highly Developed"—the highest ranked in the Middle East, allowing the country to enjoy a high standard of living comparable to many Western countries such as Austria, France, and Finland. The major economic sectors include high-technology and industrial manufacturing; the Israeli diamond industry is one of the world's centers for diamond cutting and polishing. Relatively poor in natural resources, Israel depends on imports of petroleum, raw materials, wheat, motor vehicles, uncut diamonds and production inputs, though the country's nearly total reliance on energy imports may change with recent discoveries of large natural gas reserves off its coast on the one hand and the leading role of the Israeli solar energy industry on the other. Israel's quality university education and the establishment of a highly motivated and educated populace is largely responsible for ushering in the country's high technology boom and rapid economic development. Numerous Israeli companies have been acquired by global corporations for their reliable and quality corporate personnel
|Agriculture||Citrus, vegetables, cotton; beef, poultry, dairy products.|
|Manufacture||high-technology products, medical electronics, fiber optics, wood and paper products, potash and phosphates, food, beverages, and tobacco, caustic soda, cement, pharmaceuticals, construction, metal products, chemical products, plastics, cut diamonds, textiles, footwear.|
|Services (Including financial)||69% (2016 estimate)|
|RADA Electronic Ltd.||Aerospace|
|Zion Oil & Gas, Inc.||Oil & Gas|
|Nova Instruments Ltd.||Industrial|
|ACS Motion Control Ltd.||Software|
|G. Will-Food Ltd.||Food|
|Doric Media Group||Media|
|ELTA Systems Ltd||Defense|
|Trico Fox Ltd.||Fashion|
|Jacada systems||IT Industry|
|High technology products|
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only public stock exchange. TASE plays a major role in the Israeli economy. TASE lists some 544 companies, 56 of which are also listed on stock exchanges in other countries. TASE also lists some 180 exchange-traded funds (ETFs), 60 government bonds, 500 corporate bonds, 591 exchange-traded notes (ETNs) and more than 1000 mutual funds. In 2009, the trading day was set at 9:30 AM–4:30 PM. At a news conference in December 2012, CEO Ester Levanon announced that trading would be extended by an hour to bring working hours closer to those of the European market. Since June 2013, the trading day has been 9:30 AM–4:30 PM on Sundays and 9:30 AM–5:30 PM Monday to Thursday.
The most recent global financial crisis in 2009 produced a brief period of recession in Israel, but the country’s prudent fiscal policies and regulations, combined with a particularly robust banking sector, allowed the economy to recover quickly. Israel consistently ranks high among the world’s economies in terms of its technological readiness, venture capital availability, and the quality of its research organizations. The country ranks 1st in availability of scientists and engineers, number of start-ups per capita, and venture capital investments per capita. Over the years, Israel has experienced a high average rate of growth. Given its small consumer market domestically, Israel has strategically turned beyond its borders to sell its products and offer its technologies. This year, Israel was unanimously voted to join the Organization for Economic Cooperation and Development, signifying its status as one of the world’s 34 most developed economies.
Modern Israel is roughly located on the site of the ancient kingdoms of Israel and Judah. This is the birthplace of the Hebrew language and of the Abrahamic religions, and contains sites sacred to Judaism, Christianity, Islam, Samaritanism, Druze and the Bahá'í Faith. The Land of Israel has come under the sway of various empires and has been home to a variety of ethnicities, but was predominantly Jewish from roughly 1,000 years before the Common Era until the 3rd century of the Common Era (CE). The area became increasingly Christian after the 3rd century, and then largely Muslim following the Islamization of Palestine after the Muslim conquest of the Levant during the 7th century, and had been largely Muslim up to the middle of the 20th century. It was a focal point of conflict between Christianity and Islam between 1096 and 1291, and from the end of the Crusades was part of the Syrian province of first the Mamluk Sultanate and then the Ottoman Empire until the British conquest in 1917.
A Jewish national movement, Zionism, emerged in the late-19th century. Following the British capture of Ottoman territories in the Levant, the Balfour Declaration in World War I and the formation of the Mandate of Palestine, Aliyah increased, causing Arab–Jewish tensions and a collision of the Arab and Jewish nationalist movements. Israeli independence in 1948 was marked by massive migration of Jews from both Europe and the Muslim countries to Israel, and of Arabs from Israel, followed by the extensive Arab–Israeli conflict. About 43% of the world's Jews live in Israel today, the largest Jewish community in the world.
Since about 1970, the United States has become the principal ally of Israel. In 1979 an uneasy Egypt–Israel Peace Treaty was signed, based on the Camp David Accords. In 1993, Israel signed Oslo I Accord with the Palestine Liberation Organization, followed by establishment of the Palestinian National Authority and in 1994 Israel–Jordan peace treaty was signed. Despite efforts to finalize the peace agreement, the conflict continues to play a major role in Israeli and international political, social and economic life. The economy of Israel was initially primarily socialist and the country dominated by social democratic parties until the 1970s. Since then the Israeli economy has gradually moved to capitalism and a free market economy, partially retaining the social welfare system.
The Israeli new shekel, also known as simply the Israeli shekel and formerly known as the New Israeli Shekel (NIS), is the currency of Israel. The new shekel is divided into 100 agorae. The new shekel has been in use since 1 January 1986, when it replaced the old shekel at a ratio of 1000:1. The Israeli pound was the currency of the State of Israel from June 1952 until 23 February 1980, when it was replaced with the shekel on 24 February 1980. From 1955, after the Bank of Israel was established and took over the duty of issuing banknotes. The shekel, now known as the old shekel, was the currency of the State of Israel.
1980 and 31 December 1985. The Israeli pound and its successor, the old shekel, all experienced frequent devaluations against foreign currencies during the 1960s and '70s. Since 1 January 2003, the new shekel has been a freely convertible currency. In 1985, coins in denominations of 1 agora, 5 and 10 agorot. In 1990, 5 coins were introduced, followed by 10 coins in 1995. Production of 1 agora pieces ceased in 1990, and they were removed from circulation on 1 April 1991. A ? 2 coins were introduced on 9 December 2007, the 5 agora coin, last minted in 2006, was removed from circulation on 1 January 2008.
In April 2011, it was reported that new coins would be minted that would use less metal and thus lower costs. Series A, B, and C banknotes are also introduced by the Israel Banks.
|Currency||Israeli new shekel (ILS)|
|GDP / GDP Rank||300.582 Billion USD|
|GDP Growth Rate||2.6 Percent|
|GDP Per Captial||$35178.672 (PPP)|
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Other Religions
Jewish 76.4% (Of Which Israel-Born 67.1%
President – Reuven Rivlin
Prime Minister – Benjamin Netanyahu
|Website||Go to the web|
|Public Debt||62.207 Percent|
|Unemployment Rate||5.606 Percent|
|Labor Force (Occupation)||-|