#BDS_Epic_fail: BDS's impact on the Israeli economy is ZERO
A Knesset study has found that the boycott-divest-sanction (BDS) movement has had absolutely NO impact on Israel's economy
The research center found that Israel’s merchandise exports to the
European Union had nearly doubled since 2005. In the decade before, they
averaged $7.8 billion annually, and in the nine years that followed
they averaged $15.6 billion, despite a sharp drop in 2009 due to the
world financial crisis.
“Foreign trade figures, mainly exports to Europe, show that the impact
of efforts over the last decade to impose a boycott have not hurt the
Israeli economy on the macroeconomic level,” concluded the study written
by Eyal Kaufman.
Israel has been concerned that the BDS movement would succeed in
rallying consumers, businesses and governments to shun Israeli products
and services, and in the case of governments, deny it trade benefits.
The movement has chalked up some successes, but the Knesset report said
they did not have any broad impact.
Israel also showed no apparent impact from BDS in the form of foreign
direct investment. FDI has grown 78-fold since 1990, with particularly
sharp growth after 2006. The value of FDI reached $88.2 billion in 2013,
from $52.6 billion in 2000, with the pace of growth accelerating to 58%
in the last four years, the report found.
Israel is vulnerable to an economic boycott, with a third of gross
domestic product generated from exports. Even worse, the EU accounted
for 28% of Israel’s merchandise exports in the first eight months of
last year, slightly more than exports to the United States.
Export to the European Union as a percentage of Israel’s total exports
has declined slightly since 2000. But America’s weighting has dropped
even more quickly, to 31% from 41%; meanwhile, non-EU Europe’s share has
risen, as has the share of Asia’s emerging economies.
Labels: BDS, epic fail