Country Report Israel March 2011

Data and charts: Monthly data

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Exchange rate NIS:US$ (av)
2008	3.75	3.61	3.51	3.52	3.38	3.36	3.37	3.56	3.55	3.69	3.89	3.87
2009	3.91	4.10	4.16	4.20	4.09	3.94	3.89	3.83	3.77	3.73	3.78	3.79
2010	3.71	3.75	3.74	3.71	3.79	3.85	3.85	3.79	3.74	3.61	3.64	3.60
Exchange rate NIS:€ (av)
2008	5.52	5.32	5.45	5.55	5.26	5.22	5.32	5.33	5.10	4.87	4.96	5.21
2009	5.19	5.24	5.44	5.53	5.56	5.53	5.48	5.47	5.48	5.52	5.64	5.54
2010	5.30	5.13	5.09	4.98	4.77	4.71	4.92	4.89	4.89	5.02	4.98	4.77
Real effective exchange rate (2000=100; CPI-basis)
2008	80.32	82.97	83.16	83.43	87.37	87.28	86.52	84.54	86.93	88.18	85.99	84.75
2009	84.75	82.82	82.32	80.52	80.85	83.02	84.28	84.80	85.51	85.61	84.10	84.42
2010	86.32	87.10	87.11	88.07	87.55	88.83	86.59	87.28	88.12	88.62	88.53	n/a
Domestic credit (end-period; NIS bn)
2008	524.8	531.1	534.8	542.5	547.7	557.1	562.0	561.9	570.9	579.7	581.7	582.4
2009	579.9	577.4	574.8	573.6	575.4	577.5	577.2	589.0	592.0	596.2	597.1	598.0
2010	603.0	605.1	606.7	614.4	616.0	619.4	622.6	625.0	632.6	640.6	644.4	n/a
Budget revenue (NIS bn)
2008	19.2	18.0	24.7	19.4	19.4	16.7	19.6	16.7	18.2	19.2	17.2	16.1
2009	16.0	14.6	18.7	18.7	17.4	15.0	20.9	16.7	19.3	17.5	18.8	18.3
2010	18.7	16.6	22.8	19.2	20.2	16.5	20.6	16.5	21.4	20.4	18.6	18.8
Budget expenditure (NIS bn)
2008	13.9	18.5	22.5	18.8	18.1	20.0	20.0	16.1	18.0	19.7	18.3	29.5
2009	13.8	17.8	21.7	21.5	19.9	21.6	20.1	18.3	21.4	19.5	20.7	29.5
2010	14.4	19.1	26.5	20.0	20.0	20.9	20.8	20.0	20.1	22.3	18.8	31.4
Budget balance (NIS bn)
2008	5.4	-0.5	2.3	0.6	1.3	-3.2	-0.4	0.6	0.2	-0.5	-1.1	-13.5
2009	2.2	-3.2	-2.9	-2.8	-2.5	-6.7	0.7	-1.6	-2.1	-2.1	-1.9	-11.2
2010	4.3	-2.6	-3.7	-0.8	0.2	-4.5	-0.1	-3.5	1.3	-2.0	-0.2	-12.5
M1 (end-period; % change, year on year)
2008	16.5	14.4	12.7	15.9	14.8	11.7	12.2	9.4	11.8	17.5	15.3	17.4
2009	23.4	32.8	40.9	49.1	54.7	56.3	56.0	64.5	61.7	54.2	59.0	52.3
2010	44.2	31.3	24.9	15.7	13.7	10.1	9.0	1.7	3.0	4.0	1.6	3.8
M2 (end-period; % change, year on year)
2008	12.6	10.3	11.4	10.6	9.9	8.7	6.8	5.1	7.9	10.3	11.4	13.7
2009	16.6	18.5	18.3	18.6	18.2	19.2	18.6	20.5	19.5	15.7	15.9	13.5
2010	10.1	7.7	5.1	4.5	5.0	3.9	3.5	0.6	0.9	0.9	1.9	n/a
Manufacturing production index (% change, year on year)
2008	10.1	9.1	10.7	23.6	4.3	14.3	6.9	8.0	11.3	-11.7	1.2	4.8
2009	-8.7	-6.0	-6.3	-18.3	-6.9	-7.0	-12.4	-6.5	-4.6	11.8	-1.1	-3.4
2010	3.5	5.2	5.6	23.2	16.8	13.1	16.1	8.0	-7.3	6.5	5.9	n/a
Domestic trade & services index (seasonally adjusted; % change, year on year)
2008	5.2	-0.3	7.4	5.9	-1.5	0.5	2.9	-4.6	-0.5	-2.9	-5.0	-11.1
2009	-8.5	-8.1	-7.6	-8.9	-4.3	-1.1	-7.5	0.5	-1.8	1.8	2.4	10.6
2010	12.0	11.4	9.3	11.7	10.2	3.8	9.7	7.9	8.3	8.4	8.4	5.1
Average monthly wages (% change, year on year)
2008	1.9	1.5	0.3	-1.2	-0.3	0.3	-1.1	-2.0	-1.0	-1.5	-1.5	-3.8
2009	-2.3	-2.9	-2.2	-2.7	-5.6	-3.0	-1.4	-2.2	-2.4	-2.4	-1.8	-2.2
2010	-1.6	0.2	0.5	-0.6	1.1	1.3	0.5	2.9	-0.3	1.7	2.6	n/a
Bank of Israel headline rate (end-period; %)
2008	4.3	4.3	3.8	3.3	3.3	3.5	3.8	4.0	4.3	4.0	3.3	2.5
2009	1.8	1.0	0.8	0.5	0.5	0.5	0.5	0.5	0.8	0.8	0.8	1.0
2010	1.3	1.3	1.3	1.5	1.5	1.5	1.5	1.8	1.8	2.0	2.0	2.0
Money market rate (end-period; %)
2008	3.8	3.0	2.6	2.7	2.6	2.6	2.7	2.7	2.9	3.8	2.2	1.7
2009	1.1	1.1	1.1	1.0	0.7	0.5	0.4	0.3	0.2	0.2	0.2	0.1
2010	0.1	0.1	0.1	0.2	0.3	0.4	0.4	0.2	0.2	0.2	0.2	n/a
Long-term bond yield (av; %)
2008	3.1	2.7	2.3	n/a	2.7	2.6	2.5	2.7	3.0	3.8	3.8	3.1
2009	2.3	1.7	1.4	1.2	1.7	1.9	1.5	1.5	1.4	1.1	1.0	1.3
2010	1.5	1.3	1.1	1.2	1.1	0.8	0.7	0.6	0.7	0.5	n/a	n/a
Tel Aviv-100 stockmarket index (end-period; Dec 1991=100)
2008	1,001	1,034	928	996	1,036	988	948	922	813	646	575	564
2009	600	604	666	745	791	801	885	884	928	957	1,004	1,065
2010	1,073	1,092	1,155	1,098	1,009	990	1,029	1,046	1,129	1,171	1,150	1,224
Consumer prices (av; % change, year on year)
2008	3.5	3.6	3.7	4.7	5.4	4.8	4.9	5.1	5.5	5.5	4.4	3.8
2009	3.3	3.4	3.6	3.1	2.8	3.6	3.5	3.1	2.8	2.9	3.8	4.0
2010	3.8	3.6	3.2	3.0	3.0	2.4	1.8	1.8	2.4	2.5	2.3	2.7
Core consumer prices (av; % change, year on year; excl housing, fruit & vegetables)
2008	3.8	4.0	4.2	4.8	5.8	5.5	5.7	5.5	5.5	4.9	2.9	2.0
2009	1.3	1.2	0.8	0.6	-0.2	0.3	0.8	0.9	1.0	1.3	2.7	3.1
2010	3.1	2.9	2.8	2.4	2.5	1.5	0.6	0.6	0.7	1.0	1.1	1.3
Wholesale prices (av; % change, year on year)
2008	10.2	10.7	10.8	11.7	13.2	14.9	14.5	13.1	12.6	8.8	0.6	-4.4
2009	-6.1	-4.5	-6.2	-6.3	-9.0	-10.3	-10.0	-10.0	-8.0	-7.3	-0.3	3.4
2010	5.5	4.7	5.6	5.1	6.5	3.6	2.0	2.8	1.7	3.5	3.1	3.7
Total exports fob (US$ m)
2008	4,315	4,243	4,837	4,054	4,970	4,907	5,034	3,990	4,528	3,235	3,761	3,377
2009	3,032	2,809	3,561	2,592	3,552	3,495	3,603	3,254	3,725	4,097	3,935	4,401
2010	4,081	3,709	4,900	4,086	4,215	4,763	4,375	3,891	3,777	4,156	4,317	4,626
Total imports cif (US$ m)
2008	5,165	5,097	6,016	5,466	5,781	5,910	6,347	5,725	5,357	4,845	4,658	4,165
2009	3,413	3,308	3,773	3,238	3,439	3,913	4,201	4,422	3,854	4,019	4,600	4,749
2010	4,492	4,218	5,129	4,547	4,796	4,904	4,840	5,240	4,182	5,755	4,882	5,643
Trade balance fob-cif (US$ m)
2008	-850	-853	-1,179	-1,412	-811	-1,004	-1,313	-1,735	-829	-1,609	-897	-787
2009	-380	-498	-213	-646	114	-419	-598	-1,168	-129	77	-665	-348
2010	-411	-509	-229	-461	-581	-141	-465	-1,350	-405	-1,599	-565	-1,017
Foreign-exchange reserves excl gold (end-period; US$ m)
2008	28,714	28,583	29,539	29,478	29,958	31,383	32,624	33,749	36,251	35,264	36,999	42,513
2009	41,928	40,795	44,327	45,248	47,727	50,271	52,380	57,767	59,963	61,196	61,544	60,611
2010	61,101	60,729	62,475	64,472	63,417	63,096	64,313	64,109	66,260	69,610	62,278	70,920
Sources: IMF, International Financial Statistics; Haver Analytics.

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