Israel's gross domestic product (GDP) fell by 19.4% in the last quarter of 2023 compared to the previous quarter. Exports fell by 18.3% and imports by 42.4%, due in particular to the cancellation of flights to Israel and the Red Sea attacks by Yemeni Houthi rebels.
The consequences of the war on the Israeli economy were reflected not only in a fall in the GIB but also in a serious labor shortage and the collapse of tourism. Israel has threatened to continue its offensive against Hamas during Ramadan if the hostages are not released by then.