Psalms 146 – 150 all begin and end with the call to “praise the Lord.”
Psalm 147 has three parts. All three begin in some way with a call to praise and each call is followed by reasons for praise. The first section (vss. 1 – 6) recounts what God has done in restoring Jerusalem and is followed by God’s magnificent work in creation and by His justice. The second section (vss. 7 -11) begins with God’s work in creation to make provisions for his creatures on the earth and ends by identifying those whom God loves (those who fear Him and put their hope in his unfailing love). The third section (vss. 12 – 20) again begins with God’s blessings toward Jerusalem, moves to His work in creation and ends with the exaltation of God’s people because of His focus on them.
The point is singular: Considering the greatness of God and His love for Israel, Israel has every reason to praise God.
Our task from this psalm is not so much to “count our blessings,” but to reflect on the greatness of God and rejoice that He has chosen to love us above all others.