JERUSALEM, July 1 – More than one-third of businesses in Israel reported a sharp drop in revenue due to the recent 12-day conflict with Iran, according to a new survey issued by Israel’s Central Bureau of Statistics on Tuesday.
The survey, titled “Struggles of Business During the Israel-Iran War,” found that approximately 35 percent of businesses experienced a revenue decline of more than 50 percent in June.
Only 17 percent of businesses said they did not expect any impact on their revenue for the month.
The food and beverage industry was hit hardest, with about bout 65 percent of businesses expecting severe revenue losses, compared to just 11 percent in the hi-tech and financial sectors.
The conflict also led to a significant drop in employment across many businesses. Between June 23 and 25, when the survey was conducted, 35 percent reported reducing their workforce by more than 80 percent, with some reporting a complete suspension of operations.
The food and beverage industry was still the most affected, with around 70 percent of businesses operating with less than 20 percent of their usual workforce, while only 12 percent of high-tech and financial companies reported such a drop in staffing levels.
According to the survey, the main causes of disruption included security-related closures, employee absences, decreased demand, transportation and supply issues, and school closures.
The survey was based on responses from 1,840 companies, representing 66,936 businesses that cover 2.14 million jobs in the Israeli private sector.
Israel launched a series of major airstrikes on June 13 targeting nuclear and military sites across Iran, killing senior commanders, nuclear scientists, and civilians, and injuring many others.
Iran retaliated with multiple waves of missile and drone attacks on Israeli territory, causing casualties and damage.
A ceasefire between the two countries was reached on June 24, ending 12 days of fighting.
XINHUA
