(Algemeiner) Yoram Ettinger - The New York-based Jefferies Financial Group global investment bank "expects further growth in Israel's tech sector despite political unrest," Bloomberg reported on July 17, 2023. "We anticipate Israel's tech ecosystem growth and maturation will only accelerate, creating a dominant and necessary opportunity for investors....The volume and density of innovation has made Israel a mandatory destination for all leading investors." According to Israel's Central Bureau of Statistics, as presented on July 27, 2023, by senior Israeli economist Shlomo Maoz: Notwithstanding the dramatic decline in foreign investment in Israel's high-tech sector, Israel's high-tech export increased by 6.9% during the first five months of 2023. The recent depreciation of the Israeli shekel (compared with the U.S. dollar) has benefited Israel's exports. Industrial production in the high-tech sector expanded during the first five months of 2023 by 5.6% more than it did in the first five months of 2022, as reflected by the 3% growth in the number of high-tech workers during the first five month of 2023. Israeli unemployment has declined to 3.5%, and its GDP grew by 3.2% during the first quarter of 2023, while industrial investment grew by 16.2%.
2023-08-03 00:00:00Full ArticleBACK Visit the Daily Alert Archive