Weighed down by the war in Gaza.
Israel's gross domestic product (GDP) fell by 19.4% in the last quarter of 2023 compared to the previous quarter, according to official figures released on Monday.
This is the worst quarter in terms of GDP per capita for the Israeli economy since the first of 2020, marked by the Covid-19 pandemic.
Over the year 2023, Israeli GDP grew by 2%, while the Israeli Central Bank forecast it at 2.3% at the end of October, less than a month after the Hamas attack which provoked the war in Gaza, according to the Central Bureau of Statistics.
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In the last 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 to denounce the Israeli war in Gaza. , which disrupted global maritime trade.
Collapse of tourism
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, traditionally flourishing.
The Israeli military has, in the days following October 7, recalled more than 300,000 reservists, and the government has banned at least 160,000 Palestinian workers, a significant portion of the workforce in the country, from entering the country. construction and agriculture.
The Israeli offensive in Gaza has so far left more than 29,000 dead in the Palestinian territory, the vast majority of them civilians, according to the latest report from the Hamas Ministry of Health.
Israel has threatened to continue its offensive against Hamas during Ramadan if the hostages are not released by then, including in the Rafah region in the south, where nearly a million and a half Palestinian civilians are massed. .