Israel's economy remains robust with the latest figures from the Central Bureau of Statistics showing that Gross Domestic Product (GDP) grew at an annualized rate of 4.2% in the first quarter of 2018. This follows 4.4% growth in the fourth quarter of 2017 and 4.1% growth in the third quarter of 2017. The Central Bureau of Statistics stresses that this is a preliminary estimate, which is not based on the full data and is likely to be revised, Globes reports.
An analysis of the growth finds double-digit growth in almost of parameters. Private consumption rose 10% in the first quarter, investment in fixed assets grew 12.8%, exports of goods and service rose 11.4% and public expenditure also rose 11.4%. Import of goods and services rose 23.4% after rising by only 6.1% in the fourth quarter of 2017. High-tech remains the growth engine of the economy. Exports of software and communications products rose 26.8% in the first quarter.