15% of those engaged in the economy were still affected in November and December 2020

15% of those engaged in the economy were still affected in November and December 2020, on the eve of the third closure, in 80% or more of their normal cycles on the eve of the crisis. This is clear from new data from the Tax Authority published today (Wednesday), which rely on a comparison of turnover cycles according to value added tax payments between March-December 2020 and the corresponding period in 2019.
Particularly large damage was observed in March-April, a moderation occurred in May-June and a further recovery in trading volumes was observed in July-August. The months of November-December 2020 were still relatively high, although moderate than that experienced by businesses in March-April.
 In November-December 2020, the median turnover decreased by 22.7% and the total turnover decreased by only 0.8%. As in previous periods, the explanation for this is that the large dealers were much less affected and their impact on the average was higher than on the median.
There are no significant changes in the situation since the beginning of the corona. The arts and entertainment industries continue to suffer from a very high injury rate - 44%, following a decline of 43% -47% in March to October.
Businesses in the hospitality and food industries experienced a difficult period with an injury of about 45%, after also in most previous periods the decline rates in cycles were very high.
In November-December 2020, about 15% of dealers were injured by 80% or more (!), About 20% were injured by 40% -80%. And about 41% of dealers experienced growth.
Also in November-December, there was growth in activity in a large proportion of dealers, in all size groups: about 34% of dealers were in growth of 10% or more and another 7% grew at a moderate rate of up to 10%. The rate of growing dealers among dealers with a turnover of NIS 20 million or more was about half of all dealers in the group.
As in previous periods, the severity of injury rates (above 80%) decreases as the seniority of the business increases. It was encouraging to see that about 46% of the new dealers were able to grow.
The new survey by the Tax Authority also made it possible for the first time to examine the situation of the exempt dealers and revealed that their average turnover decreased in 2020 by about 25%, from NIS 38.4 thousand to NIS 30.6 thousand. The median turnover decreased from NIS 31.1 thousand to NIS 22.5 thousand.