| Economy | West Bank |
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Economy - overview:
|
The West Bank - the larger of the two areas comprising the Palestinian territories - has experienced a relatively high single-digit economic growth rate since 2008, but this rate has been sustained by inflows of donor aid rather than private sector economic activity. After suffering an almost decade-long downturn following the start of the second intifada in 2000, overall standard-of-living measures have recovered to the levels seen in the late 1990s. Despite the Palestinian Authority's (PA) largely successful implementation of economic and security reforms and the easing of some movement and access restrictions by the Israeli Government in 2010, Israeli closure policies continue to disrupt labor and trade flows, industrial capacity, and basic commerce, eroding the productive capacity of the West Bank economy. Since mid-2007 the PA under President Mahmoud ABBAS and Prime Minister Salam FAYYAD has depended on more than $3 billion in direct foreign donor assistance to the PA's budget. The biggest impediments to economic improvements in the West Bank remain Palestinians' lack of access to land and resources in Israeli-controlled areas, import and export restrictions, and a high-cost capital structure. Absent robust private sector growth, the PA will continue to rely heavily on donor aid for its budgetary needs. |
GDP (purchasing power parity):
|
$12.79 billion (2009 est.)
$11.95 billion (2008)
note: includes Gaza Strip |
GDP - per capita (PPP):
|
$2,900 (2008 est.)
note: includes Gaza Strip |
GDP (official exchange rate):
|
$6.641 billion
note: includes Gaza Strip (2008 est.) |
GDP - real growth rate:
|
7% (2009 est.)
2.3% (2008 est.)
note: includes Gaza Strip |
GDP - composition by sector:
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agriculture: 3.7%
industry: 13.6%
services: 82.7% (includes Gaza Strip) (2011 est.) |
Investment (gross fixed):
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28.7% of GDP (2011 est.) |
Population below poverty line:
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18.3% (2010 est.) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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5% (2011 est.)
6% (2010 est.)
note: includes Gaza Strip |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
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7.3% (31 December 2011 est.)
7.3% (31 December 2010 est.) |
Stock of money:
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$NA (31 December 2008)
$1.574 billion (31 December 2007) |
Stock of money - per capita:
|
1 USD per capita |
Stock of quasi money:
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$5.251 billion (31 December 2008)
$3.048 billion (31 December 2007) |
Stock of quasi money - per capita:
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2,045 USD per capita |
Stock of domestic credit:
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$1.503 billion (31 December 2011 est.)
$1.353 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
586 USD per capita |
Stock of narrow money:
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$379.8 million (31 December 2011 est.)
$232.6 million (31 December 2010 est.) |
Stock of broad money:
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$6.674 billion (31 December 2011 est.)
$6.1 billion (31 December 2010 est.) |
Labor force:
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745,600 (2010) |
Labor force participation rate:
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29.03 % of population |
Labor force - by occupation:
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agriculture: 16.1%
industry: 28.4%
services: 55.5% (2010 est.) |
Unemployment rate:
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23.5% (2011 est.)
16.5% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 46.9%
male: 38.8%
female: 47.3% (2008) |
Budget:
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revenues: $2.15 billion
expenditures: $3.23 billion
note: Palestinian Authority, includes Gaza Strip (2011 est.) |
Budget revenues per capita:
|
838 USD per capita |
Taxes and other revenues:
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32.4% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-16.3% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
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small-scale manufacturing, quarrying, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs |
Industrial production growth rate:
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NA% |
Electricity - production:
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0 kWh
note: electricity in the West Bank is imported mostly from Israel (2011 est.) |
Electricity - production per capita:
|
void |
Electricity - consumption:
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550 million kWh (2011 est.) |
Electricity - consumption - per capita:
|
215 kWh per capita |
Electricity - exports:
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0 kWh (2011) |
Electricity - imports:
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550 million kWh (2011 est.) |
Oil - production:
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0 bbl/day
note: data include the Gaza Strip (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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24,000 bbl/day
note: data include the Gaza Strip (2010 est.) |
Oil - consumption - per capita:
|
3.41 bbl/year per capita |
Oil - exports:
|
0 bbl/day
note: data include the Gaza Strip (2009 est.) |
Oil - imports:
|
22,110 bbl/day
note: data include the Gaza Strip (2009 est.) |
Oil - proved reserves:
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0 bbl (1 January 2009 est.) |
Natural gas - production:
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0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
olives, citrus fruit, vegetables; beef, dairy products |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$518 million (2009)
$529 million (2008)
note: includes Gaza Strip |
Exports per capita:
|
202 USD per capita |
Exports - commodities:
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stone, olives, fruit, vegetables, limestone |
Exports - partners:
|
void |
Imports:
|
$3.601 billion (2009)
$3.772 billion (2008)
note: data include the Gaza Strip |
Imports per capita:
|
1,402 USD per capita |
Imports - commodities:
|
food, consumer goods, construction materials, petroleum, chemicals |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$1.04 billion (2010 est.)
$1.3 billion (2007 est.)
note: data include the Gaza Strip |
Debt - external - per capita:
|
405 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:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$2.45 billion (31 December 2010)
$2.375 billion (31 December 2009)
$2.123 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
954 USD per capita |
Currency (code):
|
new Israeli shekel (ILS); Jordanian dinar (JOD) |
Exchange rates:
|
new Israeli shekels (ILS) per US dollar -
3.532 (2011)
1 (2010 est.)
3.932 (2009)
3.56 (2008)
4.14 (2007) |
Fiscal year:
|
calendar year |
|
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