As Israel marks its sixth decade of existence, we note the country has a vital manufacturing sector with a heavy high-tech leaning. The Manufacturers Association of Israel reports in its most recent economic forecast that industrial output is slowing, largely due to lagging exports. Still, the forecast of industrial growth for 2008 is 4 percent.
And speaking of high-tech:
[We] should remember that industrial growth in 2008 will be influenced by the commencement of activity of the new Intel plant in Kiryat Gat. Due to the significant amount of activity expected at this plant (at the height of its activity5 the plant’s exports are expected to reach about $ 3 billion), it will bring about an increase in average production activity and exports in industry.
For more on Intel in Israel, click here.
Happy birthday, Israel.
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