Font Size: A A A
Go to:
×
More in Sea Transport: Ports | Liner Shipping
Voyage Search
General Shipping Search
Please select a port in Israel
Please select a port overseas
Exports from Israel
Imports to Israel
Tools & Calculators
Currencies
Update date: 18.01.2020
Currency Rate % Change
USD 3.454 -0.058
EUR 3.8461 -0.339
GBP 4.5301 +0.323
100 JPY 3.1351 -0.242
Currency calculator
Calculators
length area vol. weight
cm
m
km
inch
foot
yard
mile
Clear
square cm
square m
square km
square inch
square yard
square mile
Clear
cc
litre
cubic m
cubic inch
cubic yard
gallon
Clear
kg
short ton
long ton
lb
oz
Clear
Volume Weight Calculator
Ports' Workplan

Federation of chambers of commerce - port strike may cost NIS1 billion

Mr. Uriel Lynn president of the Federation of Israeli Chambers of Commerce ( FICC ) said in a press release that the planned ports strike, pushed by the trade unions, will be too costly to the economy which is still licking the wounds of the 2003 ports st
11.07.04 / 00:00
Port of Haifa
11.07.04
Port of Haifa

Mr. Uriel Lynn president of the Federation of Israeli Chambers of Commerce ( FICC ) said in a press release that the planned ports strike, pushed by the trade unions, will be too costly to the economy which is still licking the wounds of the 2003 ports strike.

 Mr. Lynn insisted that the economy is unable to stand another strike which could cost some NIS1 billion per week in lost revenue to the commercial  sector.

Calculations made by economists at the FICC show that at the end of the fifth stoppage day at the ports, the estimated revenue loss of the commercial  sector will be around NIS 1 billion, equal to 0.1% of the GNP. ( based on the data provided by the central statistics commission the daily revenue of the commercial sectors that are most affected by the strike is NIS 2.5 billion. The assumption made by FICC is that the loss in revenue will be 5% in the first day of the strike and will reach the level of 25%, of the daily revenue, in the 10th day.)

Mr. Lynn emphasized that the accumulated damage to the economy in general and to Israel’s foreign trade in particular, as a result of previous port workers striks has been devastating. Government, said Lynn  must take the initiative to prevent the trade unions from stopping essential services.

According to Mr. Lynn  Israel’s foreign trade – imports and  exports – accounts for almost 61% of the total economic activities. Most of the exports and imports are routed via maritime gateways which handles some 120,000 metric tons daily.

×