Electric appliance manufacturers in Israel are thriving, as the Israeli electric appliance market grew by 22.6 percent last year, according to new statistics released on Monday.
According to the National Electric Appliance Market Study (NEMES), the Israeli industry’s electric appliance sales jumped by 22,6% in 2016, from the previous year.
This was an increase of 23.4 percent from the corresponding period in 2015, according the report.
This is the third consecutive year the Israeli appliance market has grown, as Israeli consumers continue to spend more and more money on electric appliances.
This year, the industry’s sales grew by more than 50 percent.
The Israeli appliance industry, which comprises of two main segments: electric and gas appliances, is the most diversified in Israel.
The industry employs around 70,000 people.
The NEMES report also found that Israeli consumers spend more than 60 percent of their disposable income on household appliances, up from around 37 percent in 2015.
This means that households have been able to purchase more and better quality electric appliances that meet their needs.
The NEMETS report also indicates that the industry has gained significant momentum, with an increase in sales over the past two years.
Last year, electric appliance companies produced more than 3,000 units a day, and sales reached over $4 billion, up nearly 50 percent from 2015.
According the Israeli Association of Electric Appliances (IEA), the industry will be a key driver of Israel’s economic growth, and will bring an additional 5,000 jobs.
In 2017, IEA predicted that electric appliance manufacturers will create over 2,000 new jobs in Israel by 2020.