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The economy of Israel is a diversified economy with substantial state ownership and a rapidly developing high-tech sector. It is ranked as the world's most durable economy in the face of crises, and is also ranked first in the rate research and development center investments. As of 2010 also, Israel ranks 17th among of the world's most economically developed nations, according to IMD's World Competitiveness Yearbook rankings and in May 2010, Israel was invited to join the OECD which praised Israel's scientific and technological progress.
The major industrial sectors include metal products, electronic and biomedical equipment, processed foods, chemicals, and transport equipment. Israel possesses also a substantial service sector and the Israel diamond Industry is one of...
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