Israel has never been in the top 20 economies for GDP per capita; however, the past year has made the strength of the Israeli economy notable despite its subsequent shutdowns during the coronavirus crisis. In the latest Forbes Israel report based on International Monetary Fund data, Israel is 19th on the global list.
GDP per capita is measured by a variety of factors determining a nation’s prosperity. In 2020, Israel’s listed GDP per capita is $43,689, ranked directly above Canada, New Zealand, and the UK. The number one country listed was Luxembourg, which listed at $116,921 GDP per capita, followed by Switzerland, Ireland, Norway, and the United States to complete the top five.
Only a decade ago, Israel was ranked #32 and has been working its way up the list. In 2019, Israel ranked #21. The top-ranking is likely due to Israel’s rising tech sector. Despite a shrinkage of 2.5% in 2020, Israel’s economy didn’t suffer as much as the average OECD country, who dropped 5.5% in 2020.
