Economy - overview:
Israeli security measures and Israeli-Palestinian violence continue to degrade economic conditions in the Gaza Strip, the smaller of the two areas comprising the Palestinian territories. Israeli-imposed border controls became more restrictive after HAMAS seized control of the territory in June 2007. They have produced high unemployment, elevated poverty rates, and a sharp contraction of the private sector, which had relied primarily on export markets.Egypt’s ongoing crackdown on the Gaza Strip’s extensive tunnel-based smuggling network has exacerbated fuel, construction material, and consumer goods shortages in the territory. The 51-day conflict in July 2014 that HAMAS and other Gaza-based militant groups fought with Israel further depressed the Gaza Strip’s already aid-dependent economy. Donor support for reconstruction and relaxed Israeli import restrictions in late 2014 and 2015 have fallen short of postconflict needs, with almost 100,000 people remaining internally displaced because their homes have yet to be rebuilt or repaired.

GDP (purchasing power parity):
see entry for West Bank
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.938 billion
note: excludes West Bank
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-15% (2014 est.) 6% (2013 est.) 7% (2012 est.)
note: data exclude West Bank
country comparison to the world: 223
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
see entry for West Bank
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
data exclude West Bank (2014 est.)

GDP - composition, by sector of origin:
4% 20.2% 75.8%
note: data exclude West Bank (2014 est.)

Agriculture - products:
olives, fruit, vegetables, flowers; beef, dairy products

Industries:
textiles, food processing, furniture

Industrial production growth rate:
3.1% see entry for West Bank
country comparison to the world: 81
[see also: Industrial production growth rate country ranks ]

Labor force:
1.117 million
note: excludes West Bank (2014 est.)
country comparison to the world: 143
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 8.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 12.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 79.3%
[see also: Labor force - by occupation - services country ranks ]
note: data exclude West Bank (2013 est.)

Unemployment rate:
25% (2014 est.) 26.9% (2013 est.)
note: data exclude West Bank
country comparison to the world: 177
[see also: Unemployment rate country ranks ]

Population below poverty line:
39%
note: data exclude West Bank (2011 est.)
[see also: Population below poverty line country ranks ]

Budget:
see entry for West Bank

Fiscal year:
calendar year

Inflation rate (consumer prices):

note: 2.9% excludes West Bank
country comparison to the world: 134
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
see entry for West Bank
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
see entry for West Bank
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.356 billion (31 December 2014 est.) $2.16 billion (31 December 2013 est.)
country comparison to the world: 149
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.274 billion (31 December 2014 est.) $1.147 billion (31 December 2013 est.)
country comparison to the world: 153
[see also: Stock of domestic credit country ranks ]

Current account balance:
note: -$2.894 billion see entry for West Bank
country comparison to the world: 156
[see also: Current account balance country ranks ]

Exports:
$1.692 billion (2013 est.)
country comparison to the world: 146
[see also: Exports country ranks ]

Exports - commodities:
strawberries, carnations, vegetables, fish (small and irregular shipments, as permitted to transit the Israeli-controlled Kerem Shalom crossing)

Imports:
see entry for West Bank
[see also: Imports country ranks ]

Imports - commodities:
food, consumer goods, fuel

Debt - external:
see entry for West Bank
[see also: Debt - external country ranks ]

Exchange rates:
see entry for West Bank