Log In
Partners Log In
    Username:
    Password:


Economena » countries

Select Countries

palestine




  
GDP (current US$)$12.74 billion2014
Population, total4.295 million2014
 Sectors under coverage
Data
Documents
Financial Services
Government
Retail
Education
Healthcare
Prices
Trade
Transport
Telecommunications
Real Estate

 Overview
The West Bank - the larger of the two areas comprising the Palestinian territories - has sustained a moderate rate of economic growth since 2008. Inflows of donor aid and government spending have driven most of the gains, however. Private sector development has been weak. After a multiyear downturn following the start of the second intifada in 2000, overall standard-of-living measures have recovered and now exceed levels seen in the late 1990s. Despite the Palestinian Authority's (PA) successful implementation of economic and security reforms and the easing of some movement and access restrictions by the Israeli Government, Israeli closure policies continue to disrupt labor and trade flows, industrial capacity, and basic commerce, eroding the productive capacity of the West Bank economy. The biggest impediments to economic improvements in the West Bank remain Palestinians' inability to access land and resources in Israeli-controlled areas, import and export restrictions, and a high-cost capital structure. The PA for the foreseeable future will continue to rely heavily on donor aid for its budgetary needs, and West Bank economic activity will depend largely on the PA''s ability to attract such aid.

Israeli security controls imposed since the end of the second intifada have degraded economic conditions in the Gaza Strip, the smaller of the two areas comprising the Palestinian territories. Israeli-imposed border closures, which became more restrictive after HAMAS seized control of the territory in June 2007, have resulted in high unemployment, elevated poverty rates, and a sharp contraction of the private sector that had relied primarily on export markets. The population depends on government spending - by both the Palestinian Authority and HAMAS's de facto government - and humanitarian assistance. Changes to Israeli restrictions on imports in 2010 resulted in a rebound in some economic activity, but regular exports from Gaza are still not permitted. Standard-of-living measures remain below levels seen in the mid-1990s.

Source: Central Intelligence Agency
Updated: January 2014

Economena is constantly expanding coverage of Middle East economies and sectors. If you don't find what you're looking for, please check again later, or contact us to request new coverage
Quick Help
CLOSE

Don't have an account yet?

Try us for free, no credit card required!


Email:
Confirm mail:
First name:
Last name:
Password:
Re-enter password:

Register

Already registered?
Sign in now

Register now and get access to all Economena Tools.
See available Packages