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ICL commissioned a study, (for FY2019) published in 2020 which its finding estimated ICL’s contribution to Israel’s GDP (Gross Domestic Product) stood at ILS 14.9 billion ($4.1 billion). ICL is a leading exporter, earning approximately 95% of its revenues from exports, thereby improving Israel’s balance of payments.
In addition, ICL supports the direct and indirect livelihood of approximately 19,000 families in the Negev region. In addition, ICL supports the livelihood of approximately 5,600 Bedouin-Israeli employees, mostly as contractor workers employed by ICL’s direct contractors in varying capacities. These employees account for around 16% of all Bedouin-Israeli employees that are employed in the Israeli private sector.
ICL is responsible for 15% of the Negev’s economic activity, calculated at approximately ILS 10.7 billion ($2.95 billion) in GDP. ICL is vital for the economic strength of this region and for its continued growth.
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An Oxford Economics study, commissioned by ICL, estimated that in FY2019, the activity of the UK Boulby contributed £33 million to the local GDP, across six surrounding local authorities. It also found that there was an approximately £115 million contribution to the UK’s GDP—reflecting additional supply chain and wage-financed consumer spending that occurred elsewhere in the UK. Boulby Mine’s total economic impact is the sum of the three channels of expenditure: direct, indirect, and induced.
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In 2014-2015, ICL has initiated a study to measure Iberia’s (Iberpotash) contribution to Spain’s GDP and employment rate. The study estimated that the direct economic impact: 40% of ICL’s direct economic impact, equaling €111 million, is generated directly by the Company itself, primarily through corporate profits and employee salaries and wages. The Company’s economic impact constitutes 0.011 % of Spain’s GDP and 11% of the value added by the non-metallic mineral extraction sector. Indirect economic impact: In 2014 ICL Iberia bought products and services from more than 132 suppliers and made investments in Spain worth more than €66 million. ICL expenditures and investments generated an additional €146 million for Spain’s GDP, which constitutes 0.015% of GDP. Additional economic impact: both wages and salaries paid by ICL Iberia increased consumption of goods and services, with a subsequent impact on the economy totaling €19 million.
In addition, there is impact on employment. The study estimated that every job in ICL Iberia creates an additional 5.3 jobs for the Spanish economy.
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