Boycott Could Have Major Effect on Israeli Economy
- Details
- Written by IMEMC News & Agencies IMEMC News & Agencies
- Published: 11 September 2014 11 September 2014
For the past two months, Palestinians across the West Bank have been boycotting Israeli goods by increasing numbers, as popular campaigns have taken to the street to promote the movement.
Ma'an News Agency reports that, according to economic analysts, the campaign could potentially have a major negative effect on the Israeli economy, and buoy the Palestinian economy as well.
The Palestinian Central Bureau of Statistics cites the annual Palestinian consumption of Israeli exports at around $3.5 billion, while Palestinian exports to Israel only amount to about $600 million.
Director-General of Policy and Economic Studies and spokesman for the Palestinian Ministry of Economy, Azmi Abd al-Rahman, told Ma'an that "If applied well, the boycott could create between 70 to 100 thousand job opportunities in the Palestinian lands by providing billions of dollars annually" -- dollars which were otherwise being siphoned off to Israel.
Read more: Boycott Could Have Major Effect on Israeli Economy