According to the CIA World Factbook, the Israeli economy is worth 225 billion dollars. The high-tech industry, defense industry, and tourism are a few of its main sectors. Privatization occurred toward the end of the last century, and the political economy became linked to a broader market economy. The standard VAT rate is 15% on the sale of products, services, and the import of assets and services.
Thanks to the country’s many trade agreements with European, American, Canadian, Turkish and other countries, the country’s export revenue stands at around 1 billion dollars per year. When it comes to the sale of products, services, and the import of assets and services, the standard VAT rate is 17%. Property prices in Israel are rising accelerated as the country develops and grows every day. As a high-tech nation, technology and medicine are also popular areas for foreign investment.