The Israeli Gross Domestic Product fell 19.4% in the last quarter of 2023 compared to the previous period, weighed down by the war against the Islamist movement Hamas in Gaza, according to official figures released this Monday.
In 2023, Israeli GDP grew by 2%, according to the central statistics office, a figure slightly lower than the 2.3% that the country’s central bank contemplated at the end of October.
The last quarter of 2023 is the worst in terms of GDP per capita since the first quarter of 2020, in full pandemic of COVID-19.
During this period, exports fell by 18.3% and imports by 42.4%, among others due to the cancellation of flights to Israel and the attacks by Yemen’s Houthi rebels in the Red Seawhich disrupted international maritime trade.
The war in Gaza broke out on October 7 after the Hamas attack in southern Israel, which left 1,160 dead, according to an AFP report based on Israeli figures.
Israel’s military response has left more than 29,000 dead so far, mostly women, teenagers and children, according to Israel’s Health Ministry. Loopgoverned by Hamas since 2007.
The conflict caused a great shortage of labor and significantly affected tourism in the Hebrew State.
In the days after October 7, the Israeli army called up more than 300,000 reservists and the government banned the entry of at least 160,000 Palestinian workers into the country, a significant proportion of the workforce in the construction and agricultural sectors. .
Source: Gestion
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