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, resulting in high unemployment, elevated poverty rates, and a sharp contraction of the private sector, which had relied primarily on export markets.Since April 2017, the Palestinian Authority has reduced payments for electricity supplied to Gaza and cut salaries for its employees there, exacerbating already poor economic conditions. Since 2014, 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. Donor support for reconstruction, following the 51-day conflict in 2014 between Israel and HAMAS and other Gaza-based militant groups, has fallen short of post-conflict needs; only 53% of pledged aid had been delivered as of December, 2017.

GDP (purchasing power parity):
see entry for the West Bank

GDP (official exchange rate):
$2.938 billion (2014 est.)
note: excludes the West Bank
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-15.2% (2014 est.) 5.6% (2013) 7% (2012)
note: excludes the West Bank
country comparison to the world: 223
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
see entry for the the West Bank

GDP - composition, by end use:
household consumption: 91.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 26.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 20%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -61%
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
note: data exclude the West Bank (2017 est.)

GDP - composition, by sector of origin:
agriculture: 3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 21.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 62.5%
[see also: GDP - composition, by sector of origin - services country ranks ]
note: data exclude the West Bank (2017 est.)

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

Industries:
textiles, food processing, furniture

Industrial production growth rate:
4%
note: see entry for the West Bank (2017 est.)
country comparison to the world: 66
[see also: Industrial production growth rate country ranks ]

Labor force:
1.24 million
note: excludes the West Bank (2017 est.)
country comparison to the world: 140
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 5.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 10%
[see also: Labor force - by occupation - industry country ranks ]
services: 84.8%
[see also: Labor force - by occupation - services country ranks ]
note: data exclude the West Bank (2015 est.)

Unemployment rate:
26.7% (2017 est.) 26.9% (2016 est.)
note: data exclude the West Bank
country comparison to the world: 196
[see also: Unemployment rate country ranks ]

Population below poverty line:
30%
note: data exclude the West Bank (2011 est.)
[see also: Population below poverty line country ranks ]

Budget:
see entry for the West Bank (2017 est.)

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.8% (2017 est.) -0.2% (2016 est.)
note: 2.9% excludes the West Bank
country comparison to the world: 31
[see also: Inflation rate (consumer prices) country ranks ]

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

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

Stock of broad money:
$2.901 billion (31 December 2017 est.) $2.538 billion (31 December 2016 est.)
country comparison to the world: 144
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.041 billion (31 December 2017 est.) $1.712 billion (31 December 2016 est.)
country comparison to the world: 147
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$1.444 billion (2017 est.) -$1.348 billion (2016 est.)
note: excludes the West Bank
country comparison to the world: 142
[see also: Current account balance country ranks ]

Exports:
$1.955 billion (2017 est.) $1.827 billion (2016 est.)
country comparison to the world: 142
[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 the West Bank
[see also: Imports country ranks ]

Imports - commodities:
food, consumer goods, fuel

Reserves of foreign exchange and gold:
$312.8 million (31 December 2016 est.) $583 million (31 December 2015 est.)
country comparison to the world: 153
[see also: Reserves of foreign exchange and gold country ranks ]

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

Exchange rates:
see entry for the West Bank