Write a 250-word summary identifying two major economic strengths and two major

Question

Write a 250-word summary identifying two major economic strengths and two major weaknesses for Israel. Focus on identifying factors that contribute to the country's overall performance and support the growth of the economy as a whole. For example, has the country grown primarily through export promotion or domestic growth? Finally, point out any significant differences you observe between your Israel and the United States. Use the matrix you have developed and the readings from The Economist to support your analysis.

Country Analysis Matrix

Economic Metric

United States

Israel

Per Capita GDP

299,413

35,743

Misery Index

Rank 49th  

Rank 54th ;4.2%

GINI Index

0,48.

42.8 %

Economic Freedom Index Overall Ranking

75.1

Rank 36th: 69.7%

Human Development Index

Overall Ranking

Rank 19

Rank 11

Current Account Balance

$481.2

3.2 Billion

Budget Balance as % of GDP

3.2%

-2.5%

Economic Metric

United States

Israel

Per Capita GDP

299,413

35,743

Misery Index

Rank 49th  

Rank 54th ;4.2%

GINI Index

0,48.

42.8 %

Economic Freedom Index Overall Ranking

75.1

Rank 36th: 69.7%

Human Development Index

Overall Ranking

Rank 19

Rank 11

Current Account Balance

$481.2

3.2 Billion

Budget Balance as % of GDP

3.2%

-2.5%

Explanation / Answer

The misery index helps determine how the average citizen is doing economically and it is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate.War and terrorism, poverty and inequality. Despite all that, it turns out Israel isnt such a miserable place after all, if we take into account just two factors — inflation and unemployment.The Misery Index, which rates 59 countries around the world, for how they are managing with prices and jobs ranked Israela ranked 54th Misery index 4.2 %, where as US ranked 49th. Gini index is a measure of statistical dispersion intended to represent the income or wealth distribution of a nation's residents, and is the most commonly used measure of inequality. A Gini coefficient of zero expresses perfect equality, whereas A Gini coefficient of 1 (or 100%) expresses maximal inequality.With 0.697 Gini index Israel recorded a inequal income distribution, whereas USA recorded almost perfect equal income distribution with Gini coefficient 0.48. Per capita GDP is a measure of the total output of a country that takes gross domestic product (GDP) and divides it by the number of people in the country. Per capita GDP can also be used to measure the productivity of a country's workforce, as it measures the total output of goods and services per each member of the workforce in a given nation. With $35,743 GDP per capita Israel continued the economic recovery it began in 2003, after a two-year distinct slowdown in almost all economic activities. However as a one of the most developed nation US recorded more GDP per capita. The economy of Israel is technologically advanced by global standards.The country's major economic sectors are high-technology and industrial manufacturing; the Israeli diamond industry is one of the world's centers for diamond cutting and polishing. Relatively poor in natural resources, Israel depends on imports of petroleum, raw materials, wheat, motor vehicles, uncut diamonds and production inputs, though the country's nearly total reliance on energy imports may change with recent discoveries of large natural gas reserves off its coast on the one hand and the leading role of the Israeli solar energy industry on the other.

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