web analytics
May 22, 2015 / 4 Sivan, 5775
At a Glance
Blogs
Sponsored Post


Israel’s Economy Endures Global Economic Meltdown

Straight from the Jerusalem Boardroom #174.
The Mamilla, Jerusalem, mall.

Two Jerusalem Arabs, working with a Hamas cell in Ramallah, plotted to blow up Jerusalem's Mamilla Mall during the High Holiday season
Photo Credit: Miriam Alster/FLASH90

1.  Israel’s 2009-2012 economic growth of 14.7% leads the OECD countries, ahead of Australia – 10.7%, Canada – 4.8%, USA – 3.2%, Germany – 2.7%, France – 0.3%, Euro Bloc – 1.5% decline.  Israel’s growth was undermined by the stoppage of natural gas supply from Egypt, which requires the acquisition of more expensive sources of energy (“Israel Hayom”, Jan. 2, 2013).

2.  Israel’s 2012 economic growth, 3.3%, leads the OECD countries which average 1.4% growth, ahead of the US (2.2%), Canada (2%), Japan (1.6%), Brazil (1.5%), Germany (0.9%), France (0.2%), Britain (0.1% decline), Spain (1.3% decline) and Italy (2.2% decline), trailingIndia’s 4.5% and China’s 7.5% .  Israel’s growth per capita, 1.5%, exceeds OECD’s average of 0.7%.  Israel’s unemployment, 6.9%, is lower than the OECD (other than Germany’s and Japan’s) which averages 8%.  Israel’s private consumption increased 2.8%, compared with the OECD average of 1%.  Notwithstanding the global meltdown, Israel’s exports grew 1% at a time when most countries experience a substantial decline in exports (Globes Business Daily, December 31, 2012).

3.  Israel’s 2012 tourism – all time high of 2.9 million tourists, compared with 2.8 million in 2011.  American tourists lead the pack, ahead of Russia, France, Germany and Britain. Domestic tourism grew 3% (Ma’ariv, December 25).

4.  Australia’s $30BN Woodside Petroleum (WPL) is acquiring 30% of the rights of Israel’s Leviathan offshore natural gas field licenses for $696MN upon signing the agreement in February, 2013, $200MN upon launching exports, $350MN upon final decision to invest in liquefied natural gas export facilities, 11.5% royalties up to $1BN and $50MN for immediate oil exploration underneath Leviathan.  Woodside explores investment in additional Israeli offshore natural gas licenses (Globes, Dec. 4).

5.  The $1.6BN Minnesota-based Stratasys merged with Israel’s $1.4BN Objet (3D printers manufacturer), a week following the acquisition of Israel’s Retalix, by NCR, for $800MN. Objet’s market value before the merger was $634MN (Globes, Dec. 4).  The $10BN Wollingford, CT-based Amphenol acquired Israel’s Tel-Ad for $65MN; the US storage giant, EMC, made its 5th Israeli acquisition, More IT Resources, for $15MN.  EMC employs 1,000 persons in its Israeli research and development centers (Globes, Dec. 3).  Israel’s CrossRider was acquired by an overseas unidentified company for $37MN (Globes, Dec. 17).  The Menlo Park-based Greylock Venture Partners and the Palo Alto-based Norwest Venture Partners led a$12MN 1st round of private placement by Israel’s ScaleIO (Globes, Dec. 11).

6.  Google inaugurated its Israeli Start Ups Incubator, signaling its aim to expand its Israel operations (Globes, Dec. 11). The Holland-based Philips announced the establishment of a new research & development center in Israel, which will employ scores of scientists and engineers.  Philip’s research & development center in Haifa – which coordinates special applications developed in Israel the US, Holland and India – employs 600 persons, specializing in CT 3D imaging (Globes, Dec. 13).

7.  Electricite’ de France’s (EDF) renewable energy unit inaugurated its first three projects in Israel’s Negev – a $65MN investment.  EDF plans additional ventures in Israel, demonstrating its confidence in the viability of Israel’s economy (Globes, Dec. 19).

Visit The Ettinger Report.

About the Author: Ambassador (ret.) Yoram Ettinger is consultant to Israel’s Cabinet members and Israeli legislators, and lecturer in the U.S., Canada and Israel on Israel’s unique contributions to American interests, the foundations of U.S.-Israel relations, the Iranian threat, and Jewish-Arab issues.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

3 Responses to “Israel’s Economy Endures Global Economic Meltdown”

  1. Chaiya Eitan says:

    In order to maintain this kind of growth we have to make sure that all our children are getting the kind of education they need! And keep taxes low in order to enable companies to grow and hire people!

  2. Roc Diaz says:

    when esau is down then Yaakov will rise, and its certainly so right now BH! we should rejoice and sing hallel every single day!

  3. Great for Israel and keep it that way. I wish it would be like that in the USA.

Comments are closed.

Current Top Story
Seder at the White House. The one without the kippa is President Obama.
Obama Reaching Out to (Liberal) Jews in Sermon at Synagogue
Latest Blogs Stories
Rabbi Levinger (zt"l)

Torah is to be lived. Rabbi Moshe Levinger was a completely living Torah, the Torah of Eretz Yisrael

Tadmor - Yerushalmi

“Said Rabbi Yochanan: Happy are those who see the fall of Tadmor…” (Talmud Yerushalmi)

Kadima MK Tzahi Hanegbi is looking to come home to the Likud he abandoned a few years ago.

Why has Prime Minister Netanyahu given Erdan & Hanegbi insultingly low-level cabinet appointments?

Rabbi Levinger in blue, seated with the author

Without Israel, the Jewish People are scattered nomads lacking Torah’s true national grandeur&power

Will it get better/worse for Bibi or does the wily Bibi know/plan something that will shock us all?

Dr. Vernon Smith, 2002 Economics Nobel Prize winner, on predicting housing markets & economic issues

100% of the ‘First Responders’ helping those Arab school girls were Jewish and they didn’t hesitate!

Women equalizing with men in all areas of Judaism is anathema to the very idea of male/female roles.

Bibi endorsing the “2 State Solution” endangers Israel, moving the policy Center-Right from far Left

Dear Opposition Members… You seem confused… Let me clear it up for you… You lost.

A tribute to Jerusalem by its finest troubador, David Herman.

Do the food giants really care about our health? Are consumers now eating healthier food?

If other pleasures exceed the joy we feel for Jerusalem, then something is wrong with our Judaism.

There will be peace when we listen to G-d and do want he tells us to do – all for our very own good.

We will celebrate and thank the L-rd for our blessings, determined to truly liberate our Holy sites

For the record, the grand total of Jewish grandmothers in Israel that have blown up ANYTHING: ZERO!

More Articles from Yoram Ettinger
President Obama

Realizing there was no US military threat, Iran resumed, expanded & accelerated its nuclear program

Presidents Obama, Clinton, and Carter

Suspension of disbelief towards Iran characterizes the Pres. administrations of both Carter & Obama

At 67, Israel reaffirms a historic fact: Pressuring the “Jewish Olive” produces superb oil!

The Constitution created history’s most powerful legislature & inherent foreign policy power battle

A serious peace-driven agreement and the nature of the Ayatollahs is the definition of an oxymoron

Defense, scientific and commercial cooperation between the US and Israel is surging unprecedentedly, in defiance of the unbridgeable gap between the worldviews of President Obama and Prime Minister Netanyahu. For example, 250 major US high-tech companies maintain research and development centers in Israel, which has become a major source of cutting-edge innovative technologies, improving US […]

German poet Heinrich Heine: “Since the Exodus, freedom has always been spoken with a Hebrew accent.”

Top priorities of Israeli Arabs: employment, education, healthcare, crime, and women’s rights,

Printed from: http://www.jewishpress.com/blogs/the-ettinger-report/israels-economy-endures-global-economic-meltdown/2013/01/06/

Scan this QR code to visit this page online: