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Israel's Journey from an Undeveloped Economy to the Silicon Valley of the Middle East
(Jewish News-UK) Alex Brummer - The Israel of 1948 was about Jaffa oranges, Dead Sea chemical plants and low value textiles. Today's Israel is a leader in advanced technology, cybersecurity, avionics, telecoms, life sciences and materials research. Prosperity is supported by self-sufficiency in natural gas in an age of fuel insecurity. Israel's high-tech industries contribute 15% to national output (GDP), providing 43% of the country's exports and 25% of the nation's tax income. Joining the Paris-based club of sophisticated economies known as the OECD in 2010, Israel's per capita income stood at U.S. $54,847 at the end of 2022, higher than in Britain, Spain and Portugal.