Israeli high-tech exports drop amid war against Hamas
The sector still accounted for 77% of the nation's exports in December despite the negative effects of the Israel-Hamas war
Israel Central Bureau of Statistics stated that during the last quarter of 2023 - during the first three months of the Israel-Hamas war - Israeli exports of high-tech services decreased by 7.8% constituting 4.1 billion Israeli shekels ($1.1 billion).
Despite evident damage the sector has seen due to the ongoing war, the high-tech still accounted for about 77% of Israeli exports that month.
Meanwhile, earlier in February, Israel's Central Bank reported that exports of high-tech equipment from Israel increased by 10%.
The average salary in the sector is said to have exceeded 29 thousand shekels gross in November, reportedly jumping by almost 10% over the past year as well.
Being the fastest growing sector in Israel in terms of employees, the industry provides jobs to about 395,000 people, constituting 10.4% of all Israeli workers.
Despite that, over 230,000 people have applied for unemployment benefits since the Israel-Hamas war broke out on October 7, with 150,604 citizens compelled to take unpaid leave as businesses struggle to cope with the economic fallout of the war.
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