MAI : Factories in north suffered NIS 4.5 billion damages

The Manufacturers Association of Israel (MAI) estimated last week that the direct damage to production facilities in Haifa and the northern region, since the beginning of the war was NIS 4.3 billion
 
According to a statement issued by the MAI this estimated figure covered lost production output only.
 
The MAI also estimated that the overall damage to the economy will be 1.9% of GDP, or NIS 11.5 billion.
 
Post-war industrial output will, according to the MAI, reduce this figure by 0.8%, bringing the final estimate to 1.1% of GDP.
 
The statement was issued following a visit to the north of Manufacturers Association president Shraga Brosh and director general Yehuda Segev who toured northern factories and met local manufacturers.
 
The MAI noted, however, that the above figure did not include indirect financial damage such as the loss of future orders or direct physical damage to property from "katyusha" missile strikes.
 
Brosh also noted that the estimated figure does not include the increase in costs of marine and air freight due to the war risk surcharges applied by the shipping companies, special transportation services for workers and housing solutions for workers’ families.
 
The MAI added last Monday that the number of northern factories that were working at full or partial capacity has dropped: The amount of those that report that they are functioning regularly has decreased from 88 to 80%, and 20% of factories are shuttered entirely.