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Israel’s Economy Exceeds OECD Countries

1.  The London Economist (January 2010): Israel’s 2009 economic performance, in face of global meltdown, suggests impressive growth in 2010. Israel’s GDP grew in 2009 by 0.5%, compared to an average 3.5% decline in OECD countries: US – 2.5% decline, Japan – 6.5% decline, Germany – 4.9% decline, Britain – 4.7% decline, Italy – 4.8% decline, Ireland – 7.5% decline, etc.  The Economist projects a 3.7% growth for Israel’s 2010 economy and less than 7% unemployment (7.7% in 2009), compared with a 2.4% OECD growth and 8.8% OECD unemployment.  Israel’s inflation is projected to be 1.7%, compared to 3% in 2009 and OECD’s inflation of 1.2% (1.3% in 2009).

 

Morgan Stanley raises growth forecast for Israel to 3.7%, beyond Bank of Israel’s forecast of 3.5% (Globes, Jan. 18, 2010).   

 

Israel‘s Central Bureau of Statistics (ICBS) reported (Israel Hayom daily, Jan. 1, 2010) a 2.9% budget deficit (% of GDP), which is higher than the 0.8% of 2008, but dramatically lower than most Western economies, some of which exceeded 10%.  The ICBS also reported a 6.5BN trade balance surplus, a 75% increase in the Tel Aviv Stock Exchange and a 1.3% decline of GDP per capita, compared with a 2.2% increase in 2008.

 

2.  Israel‘s high-tech holding its own.  The number of Israeli high-tech companies, which enticed investment, remained high (447 compared with 483 in 2008), attesting to the attraction of Israel to venture capitalists.  The volume of dollar invested decreased significantly, as a result of drying investment resources and lower market valuations: $1.1BN in 2009, in comparison with $2BN – 2008, $1.8BN – 2007, $1.6BN – 2006, $1.3BN – 2005, $1.5BN – 2004 and $1BN in 2003 (Ma’ariv, Jan. 19). 

 

3.  Microsoft expands R&D operations in Israel, adding a few scores of employees to the 600 currently employed (Globes, Jan. 6). 

 

4.  Merger & Acquisition of Israeli companies persist. DVTel acquired Israel’s Ioimage for $80MN in stock (Globes, Jan. 13).  DotHill acquired Israel’s Cloverleaf for $113MN (Globes, Jan. 6). 

 

5.  Overseas VC investment in Israel. China‘s $1BN Zhejiang Sanhua invested $9.5MN in Israel’s Heliofocus (Globes, Jan. 6). Europe’s FilVest, which specializes in bio-med investment, led a $12MN round of private placement by Israel’s Endogen – FilVest’s first investment in Israel (Globes, Jan. 11).  Oracle, Pennsylvania’s Susquehanna Growth Equity, Silicon Valley’s Hyperion, Boston’s Battery Ventures and Briatain’s Stage One Ventures co-led a $10MN round of private placement by Israel’s cVidia (Globes, Jan. 15).  invested $9MN in Israel’s Wisair (Globes, Jan. 12). Sequoia Capital participated in a $3MN fourth round by Israel’s SunRad (Globes, Jan. 19). Virginia Life Sciences Investments led a $3MN seoncd round of private placement by Israel’s Cupron n(Globes, Jan. 20).     

 




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Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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