"Israel is an international model for innovation," says the president of the Israel Manufacturers Association of Israel, Shraga Brosh.
According to new figures, in 1936, prior to independence, the number of industrial companies in Israel stood at 1,500 and employed some 28,000 people.
In 1948, there were 2,500 industrial companies. In 1952 98,000 people were working in industry, and by 1965 that number had jumped to 223,000. In 2017, there were about 13,500 industrial companies in Israel, which employed 378,641 workers.
In 1948, Israeli industrial exports totaled $18 million. In 1980, that number had risen to $5 billion, and in 2000 industrial exports surpassed $30 billion. In 2018, they totaled more than $60 billion.
In contrast to the industrial sector, Israeli banking has not seen the same growth. The five groups that control banking were all founded before the state itself. Bank Hapoalim was established in 1921 as the bank of the Histadrut Labor Federation; Bank Leumi was established at the Zionist Congress of 1902 followed a decision by Theodor Herzl; Discount was founded in 1935; and Mizrahi-Tfahot in 1923. The only bank of the five that was established after the state is the First International Bank of Israel.
In the same period – 1948-2018 – Israel's gross domestic product has grown by a factor of 12, from 10,000 shekels ($2,800) per capita in the 1950s to some 120,000 shekels ($33,500) per capita today.
Data from the Export Institute also points to an enormous leap in the overall amount of Israeli exports – from $6 million when the state was first established to over $110 billion today. Standout export sectors include high-tech and energy.
