(CNN) -- Israel's economy has done remarkably well for a country involved in a prolonged and violent political struggle over the Palestinian territories.
The are 3,361 high tech companies operating in Israel as well as 150 foreign research and development centers
The country's economy grew more than five percent last year -- faster than the U.S., Europe, UK and Japan.
While the Bank of Israel expects the country's fortunes to dip next year, along with the world economy, growth is still expected to exceed four percent. Not bad, given that the U.S., one of its biggest trading partners, is staring down the barrel of potential recession.
"The Israeli economy has managed to develop a kind of isolation from the political instability," says Yossi Mekelberg, Associate Fellow of the Middle East Program at Chatham House.
"It's almost isolated, mainly because it's based on hi-tech, pharmaceutical industries, and chemicals, and I think these are the things that are less conditioned by the political situation."
Israel says it spends a greater percentage of its GDP on hi-tech research and development than any other country.
The are 3,361 high tech companies operating in Israel as well as 150 foreign research and development centers
The country's economy grew more than five percent last year -- faster than the U.S., Europe, UK and Japan.
While the Bank of Israel expects the country's fortunes to dip next year, along with the world economy, growth is still expected to exceed four percent. Not bad, given that the U.S., one of its biggest trading partners, is staring down the barrel of potential recession.
"The Israeli economy has managed to develop a kind of isolation from the political instability," says Yossi Mekelberg, Associate Fellow of the Middle East Program at Chatham House.
"It's almost isolated, mainly because it's based on hi-tech, pharmaceutical industries, and chemicals, and I think these are the things that are less conditioned by the political situation."
Israel says it spends a greater percentage of its GDP on hi-tech research and development than any other country.
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