According to official data released this Monday, Israel’s gross domestic product (GDP) fell by 19.4% in the last quarter of 2023 compared to the previous quarter, punished by the war in the Gaza Strip.
For the year as a whole, Israel’s GDP rose 2%, but Israeli central bank forecasts pointed to 2.3% growth at the end of October, following the Hamas attack that led to war in the Gaza Strip, according to the Central Statistics Authority. .
The final quarter of 2023 will be the worst in terms of GDP per capita for the Israeli economy since the start of 2020, marked by the Covid-19 pandemic.
Exports fell 18.3% and imports fell 42.4%, largely due to canceled flights to Israel and attacks in the Red Sea by Yemeni rebels, who are disrupting global maritime trade while condemning the offensive against Palestinians in the Gaza Strip.
The Oct. 7 Hamas attack in southern Israel killed more than 1,160 people, mostly civilians, according to an AFP report based on official Israeli data.
In response, Israel launched an offensive in the Gaza Strip that Hamas health officials say has so far killed more than 20,000 people in the Palestinian territory, most of them civilians.
The conflict has caused severe labor shortages and a collapse in tourism in Israel.
Within days of the Hamas attack, more than 300,000 reservists were mobilized, and the government banned entry into the country of some 160,000 Palestinian workers, an important part of those working in construction and agriculture.
Author: Lusa
Source: CM Jornal
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