Israel's GDP Plummets 19.4% in Q4 Amid Gaza Conflict

The war with Hamas has led to a significant economic downturn, with a sharp decline in exports and imports.

Israel's economy contracted sharply in the final quarter of 2023, with a 19.4% drop in GDP.
The conflict with Hamas has resulted in a projected cost of around 255 billion shekels ($70.3 billion) by the end of 2025.
Exports fell by 18.3% and imports by 42.4%, significantly impacting the economy.
The Israeli military mobilized over 300,000 reservists, and at least 160,000 Palestinian laborers were barred from entering the country.
Despite the downturn, some indicators suggest a potential swift economic rebound in the coming months.