| 22 April 2024, Monday |

Israeli businesses lost $368 million during 11 days of fighting against Hamas

Israel’s main industrial group said on Monday that businesses have lost $368 million during 11 days of battle between Israel and the Hamas militant group in Gaza.

The Manufacturers’ Association, which represents some 1,500 firms and 400,000 workers, said the loss was mostly due to employees choosing to stay at home due to the nearly non-stop Palestinian rocket fire from Gaza.

About a third of workers were absent from work in southern Israel and about 10 percent stayed home in areas closer to the commercial hub of central Israel, the association said.

“The absence of workers led to a significant drop in the outputs of industrial companies, a decline in sales and a direct harm to revenues,” it said.

While rockets fell in Israel, heavy Israeli bombardment across the border caused massive damage in the Gaza Strip, with the Hamas media office estimating $40 million in damage to factories and the strip’s industrial zone and other industrial facilities, in addition to $22 million in damage to the energy sector.

  • Reuters