Economy - overview:
In 2017, the economic outlook in the West Bank - the larger of the two areas comprising the Palestinian Territories – remained fragile, as security concerns and political friction slowed economic growth. Unemployment in the West Bank remained high at 19.0% in the third quarter of 2017, only slightly better than 19.6% at the same point in the previous year, while the labor force participation rate remained flat, year-on-year.Longstanding Israeli restrictions on imports, exports, and movement continue to disrupt labor and trade flows and the territory’s industrial capacity, and constrain private sector development. The PA’s budget benefited from an effort to improve tax collection, coupled with lower spending in 2017, but the PA for the foreseeable future will continue to rely heavily on donor aid for its budgetary needs and infrastructure development.

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
country comparison to the world: 147

GDP (official exchange rate):
$9.828 billion (2014 est.)
note: excludes Gaza Strip
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.3% (2014 est.) 1% (2013 est.) 6% (2012 est.)
note: excludes Gaza Strip
country comparison to the world: 36
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$4,300 (2014 est.) $4,400 (2013 est.) $4,600 (2012 est.)
note: includes Gaza Strip
country comparison to the world: 176

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: 167
[see also: Gross national saving country ranks ]

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: excludes Gaza Strip (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: excludes Gaza Strip (2017 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:
4%
note: includes Gaza Strip (2017 est.)
country comparison to the world: 71
[see also: Industrial production growth rate country ranks ]

Labor force:
1.24 million
note: excludes Gaza Strip (2017 est.)
country comparison to the world: 139
[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:
26.7% (2017 est.) 26.9% (2016 est.)
note: excludes Gaza Strip
country comparison to the world: 195
[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%
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: 98
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.314 billion
[see also: Budget - revenues country ranks ]
expenditures: $1.278 billion
[see also: Budget - expenditures country ranks ]
note: includes Palestinian Authority expenditures in the Gaza Strip (2017 est.)

Taxes and other revenues:
13.4% of GDP (2017 est.)
country comparison to the world: 201
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.4% of GDP (2017 est.)
country comparison to the world: 24
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
24.4% of GDP (2014 est.) 23.8% of GDP (2013 est.)
country comparison to the world: 179
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.8% (2017 est.) -0.2% (2016 est.)
note: excludes Gaza Strip
country comparison to the world: 26
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
6.7% (31 December 2017 est.) 6.5% (31 December 2016 est.)
country comparison to the world: 121
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$382 million (31 December 2017 est.) $317 million (31 December 2016 est.)
country comparison to the world: 173
[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: 143
[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: 148
[see also: Stock of domestic credit country ranks ]

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.)
country comparison to the world: 94
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.444 billion (2017 est.) -$1.348 billion (2016 est.)
country comparison to the world: 143
[see also: Current account balance country ranks ]

Exports:
$1.955 billion (2017 est.) $1.827 billion (2016 est.)
note: excludes Gaza Strip
country comparison to the world: 141
[see also: Exports country ranks ]

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

Imports:
$6.476 billion (2017 est.) $6.11 billion (2016 est.)
note: data include the Gaza Strip
country comparison to the world: 111
[see also: Imports country ranks ]

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

Reserves of foreign exchange and gold:
$312.8 million (31 December 2016 est.) $583 million (31 December 2015 est.)
country comparison to the world: 154
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.662 billion (31 March 2016 est.) $1.467 billion (31 March 2015 est.)
note: data include the Gaza Strip
country comparison to the world: 156
[see also: Debt - external country ranks ]

Exchange rates:
new Israeli shekels (ILS) per US dollar - 3.606 (2017 est.) 3.841 (2016 est.) 3.841 (2015 est.) 3.8869 (2014 est.) 3.5779 (2013 est.)