The Israeli economy, as measured by GDP, grew at a healthy rate of 6.8% on an annualized basis in the second quarter of 2022, the Central Bureau of Statistics (CBS) said on Sunday.

That followed a 2.7% drop in GDP year on year in the first quarter

The Israeli economy has grown faster since the second quarter of 2021 than any other OECD member county that has reported results to date.

During that 12-month span, Israel’s GDP increased by 7.4 percent, compared to 7.1% in Portugal, 6.3% in Spain, 6.2% in Austria, 5.4% in the Netherlands, 4.1% in Sweden, 3% in South Korea, and barely 1.7% in Germany and the United States.

“The return to routine in the second quarter led to the rise in GDP,” said the CBS, adding that hospitality and air-travel services, as well as tourism from other countries, contributed to the rise in GDP in the April-June period.


Every story is a world

In an era of social media and bloggers, false news spreads like a wildfire, igniting bouts of anti-Semitism, hate crimes and even wars.

Accurate and thoughtful journalism is needed now more than ever.

Throughout the year, we have worked hard to present stories and analyses about Israel and the Jewish world when they are needed most. Our reporters strive to tell the truth when others fail to do so.

Our ability to continue creating the content you know and read depends on you.

This Rosh Hashanah, we appreciate your support.