Economy - overview:
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.

GDP (purchasing power parity):
$21.17 billion (2014 est.) $20.15 billion (2013 est.) $19.95 billion (2012 est.)
note: data are in 2014 US dollars; includes Gaza Strip
country comparison to the world: 141
[see also: GDP country ranks ]

GDP (official exchange rate):
$9.828 billion
note: excludes Gaza Strip (2008 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.1% (2014 est.) 1% (2013 est.) 6% (2012 est.)
note: excludes Gaza Strip
country comparison to the world: 37
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$4,300 (2012 est.) $4,400 (2011 est.) $4,600 (2010 est.)
note: includes Gaza Strip
country comparison to the world: 174
[see also: GDP - per capita country ranks ]

Gross national saving:
7.8% of GDP (2014 est.) 9.5% of GDP (2013 est.) 5% of GDP (2012 est.)
note: includes Gaza Strip
country comparison to the world: 159
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 85.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 2.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 24.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -60.4%
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
note: excludes Gaza Strip (2015 est.)

GDP - composition, by sector of origin:
agriculture: 3.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 25.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 67.8%
[see also: GDP - composition, by sector of origin - services country ranks ]
note: excludes Gaza Strip (2015 est.)

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

Industries:
small-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.)
country comparison to the world: 176
[see also: Industrial production growth rate country ranks ]

Labor force:
1.815 million
note: excludes Gaza Strip (2015 est.)
country comparison to the world: 124
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 11.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 34.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 54.1%
[see also: Labor force - by occupation - services country ranks ]
note: excludes Gaza Strip (2013 est.)

Unemployment rate:
17.7% (2015 est.) 18.6% (2014 est.)
note: excludes Gaza Strip
country comparison to the world: 161
[see also: Unemployment rate country ranks ]

Population below poverty line:
18% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.2%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
note: includes Gaza Strip (2009 est.)

Distribution of family income - Gini index:
34.5 (2009 est.) 38.7 (2007 est.)
note: includes Gaza Strip
country comparison to the world: 94
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $2.727 billion
[see also: Budget revenues country ranks ]
expenditures: $4.304 billion
[see also: Budget expenditures country ranks ]
note: includes Palestinian Authority expenditures in the Gaza Strip (2014 est.)

Taxes and other revenues:
41.3% of GDP (2014 est.)
country comparison to the world: 36
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-16% of GDP (2014 est.)
country comparison to the world: 215
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
24.4% of GDP (2013 est.) 23.8% of GDP (2012 est.)
country comparison to the world: 148
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.2% (2015 est.) 3.1% (2014 est.)
note: excludes Gaza Strip
country comparison to the world: 75
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
7.7% (31 December 2015 est.) 6.41% (31 December 2014 est.)
country comparison to the world: 112
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$278.6 million (31 December 2015 est.) $227.1 million (31 December 2014 est.)
country comparison to the world: 177
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.399 billion (31 December 2014 est.) $2.16 billion (31 December 2013 est.)
country comparison to the world: 148
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.274 billion (31 December 2015 est.) $1.147 billion (31 December 2014 est.)
country comparison to the world: 152
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$2.634 billion (31 December 2012 est.) $2.532 billion (31 December 2011) $2.45 billion (31 December 2010 est.)
country comparison to the world: 97
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$2.149 billion (2014 est.) -$2.383 billion (2013 est.)
country comparison to the world: 147
[see also: Current account balance country ranks ]

Exports:
$937.4 million (2014 est.) $1.692 billion (2013 est.)
note: excludes Gaza Strip
country comparison to the world: 162
[see also: Exports country ranks ]

Exports - commodities:
stone, olives, fruit, vegetables, limestone

Imports:
$5.683 billion (2013 est.) $6.261 billion (2013 est.)
note: data include the Gaza Strip
country comparison to the world: 119
[see also: Imports country ranks ]

Imports - commodities:
food, consumer goods, construction materials, petroleum, chemicals

Debt - external:
$1.18 billion (31 December 2014 est.) $1.042 billion (31 December 2013 est.)
note: data include the Gaza Strip
country comparison to the world: 161
[see also: Debt - external country ranks ]

Exchange rates:
new Israeli shekels (ILS) per US dollar - 3.89 (2015 est.) 3.58 (2014 est.) 3.58 (2013 est.) 3.86 (2012 est.) 3.58 (2011 est.)