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Bisnis | Ekonomi - Posted on 26 October 2023 Reading time 5 minutes
Israel's conflict with Hamas has resulted in significant casualties among Palestinians. As of October 16, 2023, the Palestinian Ministry of Health reported 2,670 Palestinian deaths and approximately 9,600 injuries due to Israeli airstrikes and bombardments. This conflict has led to increased support for the Boycott, Divestment, and Sanctions (BDS) movement in several countries.
The BDS movement aims to encourage consumers worldwide to stop purchasing products of Israeli origin to exert economic pressure on Israel for equitable treatment of Palestine. The BDS movement typically targets companies involved in illegal settlements, resource exploitation in Palestinian territory, and the use of Palestinian labor.
The impact of the BDS movement on Israel's economy is debated, but experts suggest that it may not significantly affect the Israeli economy due to the nature of its exports, which primarily consist of intermediate and non-substitutable goods. However, data from the World Bank indicates a significant decrease in the export of intermediate goods from 2014 to 2016, resulting in losses of approximately $6 billion.
Source: CNBC Indonesia
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