By Yoram Ettinger
1. Israel’s 2009-2012 economic growth of 14.7% leads the OECD countries, ahead of Australia – 10.7%, Canada – 4.8%, USA – 3.2%, Germany – 2.7%, France – 0.3%, Euro Bloc – 1.5% decline. Israel’s growth was undermined by the stoppage of natural gas supply from Egypt, which requires the acquisition of more expensive sources of energy (“Israel Hayom”, Jan. 2, 2013).
2. Israel’s 2012 economic growth, 3.3%, leads the OECD countries which average 1.4% growth, ahead of the US (2.2%), Canada (2%), Japan (1.6%), Brazil (1.5%), Germany (0.9%), France (0.2%), Britain (0.1% decline), Spain (1.3% decline) and Italy (2.2% decline), trailingIndia’s 4.5% and China’s 7.5% . Israel’s growth per capita, 1.5%, exceeds OECD’s average of 0.7%. Israel’s unemployment, 6.9%, is lower than the OECD (other than Germany’s and Japan’s) which averages 8%. Israel’s private consumption increased 2.8%, compared with the OECD average of 1%. Notwithstanding the global meltdown, Israel’s exports grew 1% at a time when most countries experience a substantial decline in exports (Globes Business Daily, December 31, 2012).
