Israel came to a standstill as a two-minute siren wailed across the country to commemorate the sacrifice of 23,646 fallen soldiers and 3,134 victims of terror.
Israelis halted their cars on the streets and stepped aside with bowed heads to pay respects to those who laid their lives to protect the country.
Some 1.5 million Israelis are expected to visit cemeteries to pay their respects at the graves of fallen soldiers and others killed in Israel's wars and terror attacks.
Israel Police said that road closures and increased traffic are likely to surround the country's 52 military cemeteries and hundreds of smaller military sections in civilian cemeteries nationwide to accommodate the visitors.
A total of 23,646 men and women have died while serving in the security services of Israel and the pre-state Jewish community since 1860 when the first Jewish neighbourhood was established outside Jerusalem's Old City walls, official statistics said.
Seventy one new names were added to the list over the last year among those who died defending the country.
Thirty of those were disabled veterans who passed away due to complications from injuries sustained during their service. The total tally also includes active soldiers who died in car accidents and other causes off the battlefield.
In addition, twelve names were also added to the list of victims who were killed in terror attacks.
The official commemoration ceremony kicked off immediately after the siren went off at Jerusalem's Mount Herzl.
The day is marked annually with candle-lighting ceremonies, melancholic music on the radio and newspaper features and television programmes about those who sacrificed their lives for the State.
The Memorial Day began yesterday with a one-minute siren at 8 PM and official ceremonies at the Western Wall and Yad Labanim (Memorial for the Sons), which was attended by Prime Minister Benjamin Netanyahu.
Speaking at Yad Labanim in Jerusalem, Netanyahu, who lost his brother Yoni during the 1976 Entebbe Operation, told bereaved families that the sacrifice of fallen Israeli servicemen and women allowed the Jewish people to live freely on their land.
"We bow our heads in memory of our loved ones whose blood has been spilled in our homeland," he said adding, "There is never a true remedy to that to every family its own grief and its own courage".
"We don't forget our wounded even for a moment and lovingly send them wishes for recovery".... "The message left by the fallen is sharp and clear: Our lives may be too short, but we have guaranteed the life of the nation forever. And they have indeed given us the ability to live. It is thanks to them and their successors that we are here," the Israeli Prime Minister said.
Netanyahu said that Israel would continue to wield its "defensive sword for the foreseeable future", while also "fostering relationships with moderate parties around us to pave the way to peace".
The solemn ceremonies will give way to revelry today evening as festivities will kick off to celebrate Israel's 70th Independence Day.
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