The Importance of Technology in Israel

In 1987 after inflation had stabilised Israel had a GDP per capita of $9,000 which was just less than half of the USA at the same time. Today Israel spends twice as much in research and development than even very technical nations like the United States. Its need for a strong military has also made it a world leading weapon system manufacturer. One of its biggest imports is uncut diamonds that then shapes into jewelry sold at a significant mark up.