Boycott office: The Intifada inflicted heavy losses in the Israeli economy
Israel-Palestine, Economics, 3/9/2001

A report by the Arab boycott office prepared by the main office in Damascus to be submitted to the next meeting of the Arab foreign ministers said that the Israeli economy was negatively affected by the Palestinian Intifada as exports average per capita in Israel reached $ 3847 against $ 5003 for 1999.

The report explained that Israel imports were at a cost of $ 31 billion and its exports were estimated at $ 25 billion and that the sectors of media, commerce, the economy, agriculture and tourism were affected by the Intifada.

In the field of investment, the report noted that there is a great recession in investment abroad in Israeli bank- notes and real-estates since the beginning of the Palestinian Intifada in the Palestinian territories by the end of September 2000 and that investments receded to $ 25 billion.

In November 2000 another recession was recorded estimated at $ 128 million against $ 417 million in September and $ 1.2 billion in August 2000, immediately before the Intifada. The peak of investment in Israel reached in the first quarter of 2000 $ 3.7 billion.

In the field of tourism the report said that there is a decrease in the number of tourists was recorded at a rate of 79% in certain cities like Jerusalem, and al-Masera. The report added that some 38,000 canceled their trips via sea to Israel and number of tourists during the first nine months of the year 2000 before the uprising reached 2.28 million tourists.

The report said that the Israeli army called for increasing its budget at a sum ranging from 2- 2.5 billion Shekels to withstand the Palestinian Intifada in the occupied Palestinian territories.

Previous Stories:
  Palestinian boycott of Israeli goods cost Tel Aviv $ 120 million   (3/7/2001)
  Some 1250 Palestinians are permitted to enter Israel for work   (12/18/2000)
  Palestinian official calls closure of Palestinian air space act of war   (11/6/2000)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search