unbekannter Gast

West Bank: Economy#

Israeli-Palestinian violence in 2015 exacerbated challenges to economic growth in the West Bank - the larger of the two areas comprising the Palestinian Territories. Increased security restrictions and political instability slowed economic activity, and Israel’s four-month withholding of taxes and other fees it collects on the Palestinian Authority’s (PA) behalf caused the PA to delay salary payments to its employees, which in turn had broader effects on business activity and consumer demand.

Longstanding Israeli closure policies continue to disrupt labor and trade flows and the territory’s industrial capacity, limit imports and exports, and constrain private sector development. The PA for the foreseeable future will continue to rely heavily on donor aid for its budgetary needs and economic activity.

Economic Facts#

GDP (purchasing power parity)$21.22 billion (2014 est.)
$20.15 billion (2013 est.)
$19.95 billion (2012 est.)
note: data are in 2014 US dollars; includes Gaza Strip
GDP (official exchange rate)$9.828 billion (2014 est.)
note: excludes Gaza Strip
GDP - real growth rate5.3% (2014 est.)
1% (` est.)
6% (2012 est.)
note: excludes Gaza Strip
GDP - per capita (PPP)$4,300 (2014 est.)
$4,400 (2013 est.)
$4,600 (2012 est.)
note: includes Gaza Strip
Gross national saving7.8% of GDP (2014 est.)
9.5% of GDP (2013 est.)
5% of GDP (2012 est.)
note: includes Gaza Strip
GDP - composition, by end usehousehold consumption: 85.7%
government consumption: 21.9%
investment in fixed capital: 26%
investment in inventories: 2.3%
exports of goods and services: 24.5%
imports of goods and services: -60.4%

note: excludes Gaza Strip (2014 est.)
GDP - composition, by sector of originagriculture: 3.5%
industry: 25.2%
services: 71.4%

note: excludes Gaza Strip (2014 est.)
Agriculture - productsolives, citrus fruit, vegetables; beef, dairy products
Industriessmall-scale manufacturing, quarrying, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs
Industrial production growth rate-1.7%
note: includes Gaza Strip (2015 est.)
Labor force828,000
note: excludes Gaza Strip (2015 est.)
Labor force - by occupationagriculture: 11.5%
industry: 34.4%
services: 54.1%

note: excludes Gaza Strip (2013 est.)
Unemployment rate17.7% (2014 est.)
18.6% (2013 est.)
note: excludes Gaza Strip
Population below poverty line18% (2011 est.)
Household income or consumption by percentage sharelowest 10%: 3.2%
highest 10%: 28.2%

note: includes Gaza Strip (2009 est.)
Distribution of family income - Gini index34.5 (2009 est.)
38.7 (2007 est.)
note: includes Gaza Strip
Budgetrevenues: $2.75 billion
expenditures: $4.077 billion

note: includes Palestinian Authority expenditures in the Gaza Strip (2014 est.)
Taxes and other revenues28% of GDP (2014 est.)
Budget surplus (+) or deficit (-)-13.5% of GDP (2014 est.)
Public debt24.4% of GDP (2014 est.)
23.8% of GDP (2013 est.)
Fiscal yearcalendar year
Inflation rate (consumer prices)1.2% (2014 est.)
3.1% (2013 est.)
note: excludes Gaza Strip
Commercial bank prime lending rate7% (31 December 2016 est.)
6.8% (31 December 2015 est.)
Stock of narrow money$317.7 million (31 December 2016 est.)
$265.5 million (31 December 2015 est.)
Stock of broad money$2.424 billion (31 December 2016 est.)
$2.273 billion (31 December 2015 est.)
Stock of domestic credit$1.551 billion (31 December 2016 est.)
$1.418 billion (31 December 2015 est.)
Market value of publicly traded shares$3.339 billion (31 December 2015 est.)
$3.187 billion (31 December 2014 est.)
$3.247 billion (31 December 2013 est.)
Current account balance-$2.149 billion (2014 est.)
-$2.383 billion (2013 est.)
Exports$937.4 million (2014 est.)
$1.692 billion (2013 est.)
note: excludes Gaza Strip
Exports - commoditiesstone, olives, fruit, vegetables, limestone
Imports$5.683 billion (2014 est.)
$6.261 billion (2013 est.)
note: data include the Gaza Strip
Imports - commoditiesfood, consumer goods, construction materials, petroleum, chemicals
Debt - external$1.662 billion (31 March 2016 est.)
$1.467 billion (31 March 2015 est.)
note: data include the Gaza Strip
Exchange ratesnew Israeli shekels (ILS) per US dollar -
3.89 (2015 est.)
3.89 (2014 est.)
3.578 (2014 est.)
3.578 (2013 est.)
3.86 (2012 est.)