Prime Minister Benjamin Netanyahu said Israel’s gross domestic product has grown to the point of surpassing even Japan’s.
Signs are everywhere that Israel’s growing in affluence.
The GDP is figured by dividing a country’s total economic output by the head count of its citizens — and in a matchup between Israel and Japan, it’s the Jewish state that’s coming out on top.
The Jerusalem Post has more:
Israel has officially surpassed Japan when it comes to gross domestic product per capita, Prime Minister Benjamin Netanyahu said on Monday, a sign that the Jewish state is evermore affluent.
Israel enjoys GDP per capita of $42,120 – which is calculated by dividing the country’s total economic output by its number of people.
In contrast, Japan’s GDP per capita is $40,850.
Netanyahu’s remarks, made at a Likud party faction meeting, signal that the country’s growing economic clout and its booming hi-tech industry is overtaking, on a per-capita wealth basis, Japan’s vaunted consumer electronics and automobile manufacturing.
It’s yet another sign that Israel’s economy continues to outperform other peers in the West, including in the United States and the eurozone.
The world average for GDP per capita is $11,730, according to the International Monetary Fund, while advanced economies enjoy an average gross domestic product per capita of $48,970.
The prime minister added that unemployment was at an all-time low, or at 3.7% in February 2018. Many economists deem it a state of “full employment” – when the economy is such that all eligible people who want jobs can get one.
That said, income inequality in Israel continues to rise.
The increasing GDP per capita merely points to a growing pie, not necessarily that the pie is being divided more equitably.
And analysts from the IMF and Organization for Economic Co-operation and Development (OECD) warn that unless Israel makes more headway in reducing social and educational gaps in the ultra-Orthodox and Arab sectors, Israel’s economic growth and competitiveness will falter.
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.
Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute here.
or
Make a monthly commitment to support The Geller Report – choose the option that suits you best.
Quick note: We cannot do this without your support. Fact. Our work is made possible by you and only you. We receive no grants, government handouts, or major funding. Tech giants are shutting us down. You know this. Twitter, LinkedIn, Google Adsense, Pinterest permanently banned us. Facebook, Google search et al have shadow-banned, suspended and deleted us from your news feeds. They are disappearing us. But we are here.Subscribe to Geller Report newsletter here— it’s free and it’s essential NOW when informed decision making and opinion is essential to America's survival. Share our posts on your social channels and with your email contacts. Fight the great fight.
Follow Pamela Geller on Gettr. I am there. click here.
Follow Pamela Geller on Trump's social media platform, Truth Social. It's open and free.
Remember, YOU make the work possible. If you can, please contribute to Geller Report.
Join The Conversation. Leave a Comment.
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spammy or unhelpful, click the - symbol under the comment to let us know. Thank you for partnering with us to maintain fruitful conversation.
If you would like to join the conversation, but don't have an account, you can sign up for one right here.
If you are having problems leaving a comment, it's likely because you are using an ad blocker, something that break ads, of course, but also breaks the comments section of our site. If you are using an ad blocker, and would like to share your thoughts, please disable your ad blocker. We look forward to seeing your comments below.
I am not an economist, and I would defer to the experts for what Israel’s GDP effectively is and means, and certainly they have some of the problems that all free societies face and need to be addressed, but it should be clear to everyone that Israel consists of citizens who are industrious, productive and are living a reasonably decent life. The point of my last statement is simply more evidence that if the Arab world would finally accept this tiny nation and try to emulate that country’s approach , adopting a non-violent attitude and prompt their people to try to emulate the industry and productivity of Israel, it’s citizens will benefit immeasurably for the better. Instead, they want to destroy Israel and its people. The truth steers the Arabs directly in their face, and they still cannot accept what is in their best interests. We all must continue to root for Israel and reject the anti-Semitism that has become so prominent.
Agree. But like you Trump was conned by Abbas initially but when he found out the truth boy was he mad as hell at the jihadi http://bit.ly/2rOmfyJ
That’s when he decided enough is enough and that inspite of huge opposition led to shifting of Embassy to Jerusalem and No more funding to the jihadis.
Problem is their islamic idealogy and islamofascism.
Islam is fascism.
It would be even higher if Israel didn’t have to commit so much to its security and defense.
With Muslims on the loose, rational countries all have the same problem.
I can only imagine what the modern states of Israel and India would be like if it weren’t for their huge populations of muslum 5th columnists.
Their best interests are to please their Allah.
They are obsessed with it.
They are not rational like you.
The problem is that Israel’s neighbors are not smart enough or industrious enough to achieve even 10% of what Israel has accomplished. Their envy of Israel and their knowledge that they just cannot compete with its capable people is what makes them poor and backward.
Great news! Kick-a$$ Israel!
No!! Be proud, very proud, and live up to its aim to be a “light unto the nations”!!!
Sometimes you have to open a can of whoop a$$ on those who don’t want to see that light (e.g. the Seleucids).
Oh oh! Should Israel be part of the next G7?
I include India, Russia, Israel, Germany, U.S., Japan and China.
Why have Italy, German, the U.K.and Germany when they are ONE BODY, the EU? Why have over representation of the EU? The EU countries are not independent countries any more under the EU.
Have Russia there to irk the globalist idiots and the uniparty about RUSSIAN COLLUSION that only exists with the DEMS.
That is higher than GDP per capita of United Kingdom ($39,900) and almost as high as Canada’s ($42,158)! Although, for 38 bucks I would not want deal with Falsedeau and freeze during winters.
I hope Israel becomes a SUPER POWER someday, with a strong alliance with US and UK.
A super power that can beat or deter even the Chinese and Russians.
May God bless the Jewish people now and forever!
What an incredible accomplishment! Japan is a very peaceful country, has no enemies who try to destroy it every day of the week, while Israel has nothing but enemies within and without.
The astounding phenomena of high intelligence people. Though Japan and Israel are small countries the output is PHENOMENAL.
Meanwhile, many countries thousands of times larger can’t even put together a paper clip. Shamefool breeds.
I wonder if this is less due to an increase in per-capita GDP for Israel as a decrease in per-capita GDP for JP, because JP is experiencing negative population growth at an increasing rate.