Inside economy of Israel

Israel’s economy is built on a technologically progressive free market approach. Diamonds, high-tech equipment, and pharmaceuticals are among top exports. Its main imports consist of crude oil, raw materials, grains, and military equipment. Israel usually shows substantial trade deficits, which are counterbalanced by tourism and other service exports, along with noteworthy inflows from foreign investment.
During 2004 and 2013, growth was more or less almost 5% per annum, mainly because of the exports. The worldwide financial catastrophe of 2008-09 incited a brief recession in Israel, nonetheless, the country got into the crisis with solid ground rules, by following the years of judicious fiscal policy and a strong banking system.