Crime cost Israel 14.5 billion shekels ($4.3 billion) in 2013 and a total of 211 billion shekels ($62 billion) since 2001, according to a report prepared for the Public Security Ministry and released Sunday.
The cost of crime in 2013 amounted to 1.4 percent of the GDP.
The cost of crime is calculated by counting material losses due to theft and robbery, the loss of productivity in the case of individuals injured or killed, insurance compensation and the cost of investigations, trials, and incarcerations among other factors, according to Globes.
The volume of crime rose 2.1 percent in 2013 over the previous year, according to the report. In 2012, it grew by 1.5 percent.
Despite the growth in the crime rate, the economic cost of crime continues to drop. The average cost of an individual criminal act in Israel today is 11,000 shekels.
The most costly crime is murder, at 2.5 million shekels for each incident. The costs of other crimes include 40,000 shekels for sex crimes, 29,000 for violent crimes and 7,000 shekels per instance of fraud.
"Criminality does significant damage to the state and its citizens," said Public Security Minister Yitzhak Aharonovich. "We need to continue acting with determination to limit the phenomenon and the damage that it causes.
Sunday was the first day of the ministry's National Crime Prevention Week.