JERUSALEM, May 16 (Xinhua) -- Growth data released on Thursday by Israel's Central Bureau of Statistics indicated a partial recovery of the country's economy after a sharp contraction in last year's fourth quarter, when the Israeli-Palestinian conflict broke out.
Israel's GDP rose in the first quarter by 14.1 percent annually compared to a sharp decline of 21.7 percent recorded in the fourth quarter last year.
But the figure was still a 1.4-percent decrease compared to the first quarter in the same period last year.
The bureau explained that there was a significant rise in private consumption and investment in fixed assets after fourth quarter, but the figures are still affected by the security situation and have not returned to the pre-conflict level.
Private consumption spending in Israel increased by 26.3 percent in the first quarter, following a 27.2 percent decrease in the fourth quarter, the data showed.
A change in trend was also recorded in the import of goods and services, increasing in the first quarter by 32.7 percent mainly due to defense imports, after a decrease of 33.2 percent in the fourth quarter.
Israeli exports of goods and services, excluding diamonds and start-up companies, decreased in the first quarter by 10.4 percent, following a 22.7 percent decrease in the fourth quarter. ■
