| Economy | Gaza Strip |
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Economy - overview:
|
High population density, limited land access, and strict internal and external security controls have kept economic conditions in the Gaza Strip - the smaller of the two areas under the Palestinian Authority (PA) - even more degraded than in the West Bank. The beginning of the second intifada in September 2000 sparked an economic downturn, largely the result of Israeli closure policies; these policies, which were imposed to address security concerns in Israel, disrupted labor and trade access to and from the Gaza Strip. In 2001, and even more severely in 2003, Israeli military measures in PA areas resulted in the destruction of capital, the disruption of administrative structures, and widespread business closures. The Israeli withdrawal from the Gaza Strip in September 2005 offered some medium-term opportunities for economic growth, but Israeli-imposed crossings closures, which became more restrictive after HAMAS violently took over the territory in June 2007, have resulted in widespread private sector layoffs and shortages of most goods. The status of the crossings, which are closed to all but the most basic goods, has not changed following Israel's military offensive into the Gaza Strip in early 2009. |
GDP (purchasing power parity):
|
$11.95 billion (2008 est.)
$5.034 billion (2006)
$5.327 billion (2005)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
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$2,900 (2008 est.)
$1,100 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
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$6.641 billion (includes West Bank) (2008 est.) |
GDP - real growth rate:
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0.8% (2008 est.)
-8% (2006 est.)
4.9% (2005 est.) |
GDP - composition by sector:
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agriculture: 8%
industry: 13%
services: 79% (includes West Bank) (2007 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
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80% (2007 est.) |
Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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11.5%
note: includes West Bank (2008) |
Central bank discount rate:
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void |
Commercial bank prime lending rate:
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7.73% (31 December 2006) |
Stock of money:
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$1.574 billion (31 December 2007) |
Stock of money - per capita:
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1,015 USD per capita |
Stock of quasi money:
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$3.048 billion (31 December 2007) |
Stock of quasi money - per capita:
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1,965 USD per capita |
Stock of domestic credit:
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$1.455 billion (31 December 2007) |
Stock of domestic credit - per capita:
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938 USD per capita |
Labor force:
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267,000 (2006) |
Labor force participation rate:
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17.21 % of population |
Labor force - by occupation:
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agriculture: 12%
industry: 5%
services: 83% (June 2008) |
Unemployment rate:
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41.3% (June 2008) |
Budget:
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revenues: $1.149 billion
expenditures: $2.31 billion
note: includes West Bank (2006) |
Budget revenues per capita:
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741 USD per capita |
Public debt:
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void |
Industries:
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textiles, food processing |
Industrial production growth rate:
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2.4% (includes West Bank) (2005) |
Electricity - production:
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140,000 kWh (2005) |
Electricity - production per capita:
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1 kWh per capita |
Electricity - consumption:
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230,000 kWh (2005) |
Electricity - consumption - per capita:
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1 kWh per capita |
Electricity - exports:
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0 kWh (2008) |
Electricity - imports:
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90,000 kWh; note - from Israeli Electric Company (2005) |
Oil - production:
|
void |
Oil - production per capita:
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void |
Oil - consumption:
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void |
Oil - consumption - per capita:
|
void |
Oil - exports:
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void |
Oil - imports:
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void |
Oil - proved reserves:
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void |
Natural gas - production:
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void |
Natural gas - production per capita:
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void |
Natural gas - consumption:
|
void |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
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void |
Natural gas - imports:
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void |
Natural gas - proved reserves:
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void |
Agriculture - products:
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olives, citrus fruit, vegetables, flowers, beef, dairy products |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
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$339 million f.o.b.; (includes West Bank) (2006) |
Exports per capita:
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219 USD per capita |
Exports - commodities:
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citrus, flowers, textiles |
Exports - partners:
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void |
Imports:
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$2.84 billion c.i.f.; (includes West Bank) (2006) |
Imports per capita:
|
1,831 USD per capita |
Imports - commodities:
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food, consumer goods, construction materials |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
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void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
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$1.3 billion (2007 est.) |
Debt - external - per capita:
|
838 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
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void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
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void |
Economic aid - recipient:
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$1.4 billion; (includes West Bank) (2006 est.) |
Economic aid - recipient per capita:
|
903 USD per capita |
Currency (code):
|
new Israeli shekel (ILS) |
Exchange rates:
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new Israeli shekels (ILS) per US dollar - 3.56 (2008 est.), 4.14 (2007), 4.4565 (2006), 4.4877 (2005), 4.482 (2004) |
Fiscal year:
|
calendar year |
|
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