Friday, October 22, 2010

Economic Development in Israel

By Steve Ong
Israel's economy has grown rapidly at an average rate of about ten percent annually, in spite of poor natural resources.

The modern economic growth of Israel is not a mirage in the desert. It is real and it is a product of great determination and untold sacrifices of its people in building their own nation.

This nation is now a modern, democratic, and industrial state. It is basically an urban society. This means that the phenomenal economic success of Israel has been achieved despite thousands of years of persecutions and invasions by the Assyrians, Babylonians, Romans, and Germans.

In manufacturing sector, The Tel-Aviv-Yafo area is Israel's major manufacturing center. It has over half of Israel's factories. They had to import large amounts of equipment and raw materials. As a result, the nations imports greatly exceed exports in value. Income from various sources makes up the difference. These source include grants and loans from other countries, and income from tourists.They have also chemicals, clothing and textiles, finished diamonds, machinery, metals, processed foods, transportation equipment, wood products.

In agricultural sector, Israeli farmers produce about three-fourths of their country's food. Exported foods cover the cost of importing the rest. The chief farm products include oranges and other citrus fruits, and eggs, milk, and poultry. Other important products are cotton, livestock, sugar beets, vegetables, and wheat.

The Israelites traveled in the desert for 40 years. Moses became the Prince of Egypt although he discovered that he was an Israelite.

At present, the Promise Land or Land of Israel is a great nation. God has indeed fulfilled his promise to Abraham, and later on to the children of Israel. The enemies of the Land of Israel have destroyed many time its people and achievements.


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