Israel-Hamas War Impacts Economy, Israel's GDP Drops by 20%, lowest since Covid-19 | Oneindia News - video Dailymotion

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Stay informed with the latest developments as Israel faces a staggering 20% drop in GDP, attributed to the ongoing conflict in Gaza. Join us as we explore the economic repercussions of the war and its impact on Israel's high-tech economy. Follow for in-depth analysis and real-time updates on this critical situation.    #Israel #Hamas #Palestine #IsraelHamasWar #IsraelHamasConflict #GazaStrip #GazaWar #HouthiRebels #RedSeaAttacks #OneindiaNews                 ~HT.178~PR.274~ED.194~GR.124~

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00:00 The latest GDP figures of Israel had sparked concerns.

00:04 According to official figures released today, i.e. on February 19, Israel's GDP experienced

00:10 a staggering decline of almost one-fifth in the last final quarter of 2023 compared to

00:16 the preceding three months.

00:18 This sharp 19.4% fall has been attributed to the profound impact of the ongoing Gaza

00:24 War on the nation's high-tech economy.

00:27 Despite the overall growth of 2.0% in 2023, the figures fell short of the 2.3% projection

00:34 made by the Bank of Israel following the outbreak of the war in October last year.

00:40 Notably, this quarter marked the worst economic performance by Israel in terms of GDP per

00:46 capita since the onset of the COVID-19 pandemic in early 2020.

00:51 The repercussions of the conflict were felt across various sectors, with exports plummeting

00:56 by 18.3% and imports by a staggering 42.4%.

01:02 The decline in international trade was exacerbated by airlines suspending flights and international

01:07 shipping routes avoiding the Red Sea due to the attacks by Houthi rebels in response to

01:12 Israel's action against Hamas.

01:15 Tragically, the toll of the Gaza War has been immense, with Hamas's attack on southern Israel

01:21 resulting in the deaths of approximately 1,160 people, primarily civilians, according to

01:27 the AFP's tally of official Israeli figures.

01:30 Meanwhile, the assault on Gaza has claimed the lives of over 29,000 individuals, predominantly

01:37 women and children, according to Health Ministry of the Hamas-run territory.

01:42 The economic fallout has been severe, with Israel experiencing significant labour shortages

01:48 and the collapse of its tourism industry since the outbreak of hospitalities and hostilities.

01:54 In response to the escalating conflict, the Israeli military mobilized over 300,000 reservists,

02:00 while the government imposed restrictions, barring the entry of at least 160,000 Palestinian

02:06 labourers and played a vital role in the construction and agriculture sectors.

02:11 As Israel grapples with the aftermath of the Gaza War, concerns mount over the nation's

02:16 economic stability and the long-term implications for its workforce and industries.

02:21 Stay tuned with One India News as we continue to monitor this developing situation and bring

02:26 you the latest updates.

02:32 [BLANK_AUDIO]

Israel-Hamas War Impacts Economy, Israel's GDP Drops by 20%, lowest since Covid-19 | Oneindia News

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