Israel ranked 4th-best-performing economy among OECD countries in 2022

TL;DR

Israel ranked 4th-best-performing economy among OECD countries in 2022The Economist says country did well despite political upheaval; exports to grow to record high of over $160b this year, with services, including tech, outpacing goods for 2nd yearSharon Wrobel is a tech reporter for The Times of Israel.The British weekly cited Israel’s well-performing economy as one of the “pleasant surprises” in 2022 “despite political chaos” wrought by the government’s collapse, which took Israelis to the polls for a fifth time in less than four years.Greece scored the top spot followed by Portugal in second place, while Latvia and Estonia came at the bottom of the list.“In Latvia average consumer prices have risen by a fifth.”Israel’s economy is projected to have grown at a rate of 6.3% in 2022, according to Finance Ministry estimates, following its even faster expansion of 8.1% in 2021, the year of recovery from the COVID-19 pandemic.Israeli exports, which comprise about 30% of the country’s economic activity, are expected to have increased by more than 10% to record highs of between $160 billion and $165 billion in 2022, according to a conservative estimate published on Sunday by the Economy Ministry’s Foreign Trade Administration (FTA)."

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