Finance Ministry sees West Bank boycott costing economy NIS 2 billion

A 2013 study by the Finance Ministry on the possible economic effects of an anti-Israel boycott, which the ministry made public on Tuesday, found that an official European boycott of West Bank products would only cost Israel’s economy some NIS 2 billion, roughly .2% of GDP.

For comparison, the 2014 summer war with Gaza reduced economic growth by an estimated NIS 3.5 billion.

The report, which then-Finance Minister Yair Lapid mentioned in a 2013 speech warning of the looming threat of the Boycott, Divestment and Sanctions (BDS) movement, spelled out five different boycott scenarios. The analysis was based on 2012 trade figures, which put Israeli exports to Europe at NIS 83b, including NIS 2.1 billion in goods originating beyond the pre-1967 lines. (The Ministry estimated West Bank-originated products at 2.5% of Israel’s total exports).

Source: http://www.jpost.com/Israel-News/Finance-Ministry-sees-West-Bank-boycott-costing-economy-NIS-2-billion-408265

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