Economy of the State of Palestine information

Economy of Palestine
	Ramallah, the financial hub of Palestine
Currency	None de jure. Currencies generally used in Palestine include: Israeli new shekel (ILS; ₪) alongside:; Jordanian dinar (JOD); United States dollar (USD); Egyptian pound (EGP)[citation needed];
Fiscal year	Calendar year
Trade organisations	OIC, Group of 77
Country group	Developing/Emerging; Lower-middle income economy;
Statistics
Population	4,569,087 (2018)
GDP	$10 billion (2012 est.)
GDP growth	1.2% (2017) 0.9% (2018); −2.5% (2019e) 2.1% (2020f);
GDP per capita	$1924 (West Bank); $876 (Gaza);
GDP by sector	agriculture: 5.5%; industry: 23.4%; services: 71.1%; (2014 UN data);
Inflation (CPI)	2.7% (June 2013)
Population below poverty line	25.8% (2011 est.)
Human Development Index	0.690 medium (2018) (119th); 0.597 medium IHDI (2018);
Labour force	1,316,023 (2019); 32.0% employment rate (2018);
Labour force by occupation	Agriculture: 12%; Industry: 23%; Services: 65%; (2008 est.);
Unemployment	27.5% (Q1 2013)
Main industries	Cement, quarrying, textiles, soap, olive-wood carvings, mother-of-pearl souvenirs, food processing
External
Exports	$720 million (2011)
Export goods	Olives, fruit, vegetables, limestone, citrus, flowers, textiles
Main export partners	Israel 86%; Jordan 5.12%; United Arab Emirates 1.45%; United States 1.13%; Saudi Arabia 5.87%; Turkey 4.34% (2023);
Imports	$4.2 billion (2011)
Import goods	Food, consumer goods, construction materials
Main import partners	Israel 38.67%; Turkey 10.5%; China 9.42%; Jordan 5.78%; Germany 5.03% (2021);
Public finances
Government debt	$4.2 billion (June 2013)
Budget balance	$1.3 billion (13% of GDP; 2012 est.)
Revenues	$2.2 billion (2012 est.)
Expenses	$3.54 billion (2012)
Foreign reserves	$464 million (march 2016) (163nd)
	; All values, unless otherwise stated, are in US dollars.

The economy of the State of Palestine refers to the economic activity of the State of Palestine. Palestine receives substantial financial aid from international donors, including governments and international organizations. This aid is crucial for supporting the Palestinian Authority and funding public services and development projects. Palestinians working abroad send money back to their families in Palestine. These remittances provide a significant source of income for many households.

While trade is restricted due to political factors, Palestine does engage in some export activities. Palestinian products, such as agricultural goods and traditional crafts, are exported to regional and international markets. Despite the challenges, tourism plays a role in the Palestinian economy. The historical and cultural significance of places like Bethlehem and Jerusalem draws tourists. Agriculture remains a crucial sector, with Palestinians cultivating crops, producing olive oil, and raising livestock. Some Palestinians work in various service industries, including education, healthcare, and technology. Palestine hosts numerous international non-governmental organizations (NGOs) and humanitarian agencies, which contribute to the local economy and provide employment.

^ ^a ^b ^c Cite error: The named reference Cobham was invoked but never defined (see the help page).
^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^ "Population, total - West Bank and Gaza". data.worldbank.org. World Bank. Retrieved 5 November 2019.
^ Rabah, Arezki; Daniel, Lederman; Amani, Abou Harb; Nelly, El-Mallakh; Yuting, Fan; Asif, Islam; Ha, Nguyen; Marwane, Zouaidi (9 April 2020). Middle East and North Africa Economic Update, April 2020 : How Transparency Can Help the Middle East and North Africa. World Bank. p. 10. ISBN 9781464815614. Retrieved 10 April 2020. {{cite book}}: |website= ignored (help)
^ "Tracking Economic Growth in the West Bank and Gaza since 2007". Washington Institute. Retrieved 12 June 2014.
^ "UN data on State of Palestine".
^ "Palestinian Consumer Price Index, June 2013".
^ "Palestinian Central Bureau of Statistics (PCBS) On the Eve of the International Population Day 11/07/2012" (PDF). Archived from the original (PDF) on 6 May 2014.
^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
^ "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved 22 May 2020.
^ "Labor force, total - West Bank and Gaza". data.worldbank.org. World Bank. Retrieved 5 November 2019.
^ "Employment to population ratio, 15+, total (%) (national estimate) - West Bank and Gaza". data.worldbank.org. World Bank. Retrieved 5 November 2019.
^ "Unemployment Rate Hits 27.5% in First Quarter of 2013". Archived from the original on 19 June 2013.
^ ^a ^b "PCBS: On the 65th Anniversary of the Palestinian Nakba".
^ ^a ^b "Foreign trade partners of Lebanon". The Observatory of Economic Complexity. Retrieved 19 June 2021.
^ "New Palestinian Government Holds Its First Meeting". Archived from the original on 10 June 2015.
^ ^a ^b "Abbas Approves 2012 Budget – Wafa.ps". Archived from the original on 6 May 2014.
^ "Time Series Data on International Reserves and Foreign Currency Liquidity. Official Reserve Assets" (PDF). Retrieved 31 October 2019.
^ "International Reserves and Foreign Currency Liquidity - WEST BANK AND GAZA". Imf.org. Retrieved 31 October 2019.
^ "CIA World Fact Book – Gaza's Economy". Retrieved 12 June 2014.
^ "CIA World Fact Book – West Bank's Economy". Retrieved 12 June 2014.

[Cobham-1] Cite error: The named reference Cobham was invoked but never defined (see the help page).

[2] "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.

[3] "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.

[4] "Population, total - West Bank and Gaza". data.worldbank.org. World Bank. Retrieved 5 November 2019.

[5] Rabah, Arezki; Daniel, Lederman; Amani, Abou Harb; Nelly, El-Mallakh; Yuting, Fan; Asif, Islam; Ha, Nguyen; Marwane, Zouaidi (9 April 2020). Middle East and North Africa Economic Update, April 2020 : How Transparency Can Help the Middle East and North Africa. World Bank. p. 10. ISBN 9781464815614. Retrieved 10 April 2020. {{cite book}}: |website= ignored (help)

[Tracking_Economic_Growth_in_the_West_Bank_and_Gaza_since_2007-6] "Tracking Economic Growth in the West Bank and Gaza since 2007". Washington Institute. Retrieved 12 June 2014.

[7] "UN data on State of Palestine".

[8] "Palestinian Consumer Price Index, June 2013".

[9] "Palestinian Central Bureau of Statistics (PCBS) On the Eve of the International Population Day 11/07/2012" (PDF). Archived from the original (PDF) on 6 May 2014.

[10] "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.

[11] "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved 22 May 2020.

[12] "Labor force, total - West Bank and Gaza". data.worldbank.org. World Bank. Retrieved 5 November 2019.

[13] "Employment to population ratio, 15+, total (%) (national estimate) - West Bank and Gaza". data.worldbank.org. World Bank. Retrieved 5 November 2019.

[14] "Unemployment Rate Hits 27.5% in First Quarter of 2013". Archived from the original on 19 June 2013.

[pcbs3-15] "PCBS: On the 65th Anniversary of the Palestinian Nakba".

[OEC-16] "Foreign trade partners of Lebanon". The Observatory of Economic Complexity. Retrieved 19 June 2021.

[17] "New Palestinian Government Holds Its First Meeting". Archived from the original on 10 June 2015.

[wafa-18] "Abbas Approves 2012 Budget – Wafa.ps". Archived from the original on 6 May 2014.

[19] "Time Series Data on International Reserves and Foreign Currency Liquidity. Official Reserve Assets" (PDF). Retrieved 31 October 2019.

[20] "International Reserves and Foreign Currency Liquidity - WEST BANK AND GAZA". Imf.org. Retrieved 31 October 2019.

[CIA_World_Fact_Book_-_Gaza's_Economy-21] "CIA World Fact Book – Gaza's Economy". Retrieved 12 June 2014.

[CIA_World_Fact_Book_-_West_Bank's_Economy-22] "CIA World Fact Book – West Bank's Economy". Retrieved 12 June 2014.

Economy of the State of Palestine information

and 27 Related for: Economy of the State of Palestine information

Economy of the State of Palestine

Agriculture in the State of Palestine

Economy of the Gaza Strip

State of Palestine

Telephone numbers in the State of Palestine

Outline of the State of Palestine

Geography of the State of Palestine

History of agriculture in Palestine

Demographics of the State of Palestine

International recognition of the State of Palestine

History of the State of Palestine

Prime Minister of the State of Palestine

Taxation in the State of Palestine

International aid to Palestinians

List of regions of Palestine by Human Development Index

History of Palestine

Palestine Investment Fund

Foreign relations of the State of Palestine

Palestinian territories

Palestine Monetary Authority

Ramallah

Blockade of the Gaza Strip

Palestinian General Federation of Trade Unions

Palestine Exchange

Israel

Languages of Palestine

SAMED

Statistics
Ramallah, the financial hub of Palestine
Currency	None de jure. Currencies generally used in Palestine include: Israeli new shekel (ILS; ₪) alongside:^[1] Jordanian dinar (JOD)^[1] United States dollar (USD)^[1] Egyptian pound (EGP)^{[citation needed]}
Fiscal year	Calendar year
Trade organisations	OIC, Group of 77
Country group	Developing/Emerging^[2] Lower-middle income economy^[3]
Population	4,569,087 (2018)^[4]
GDP	$10 billion (2012 est.)
GDP growth	1.2% (2017) 0.9% (2018) −2.5% (2019e) 2.1% (2020f)^[5]
GDP per capita	$1924 (West Bank) $876 (Gaza)^[6]
GDP by sector	agriculture: 5.5% industry: 23.4% services: 71.1% (2014 UN data)^[7]
Inflation (CPI)	2.7% (June 2013)^[8]
Population below poverty line	25.8% (2011 est.)^[9]
Human Development Index	0.690 medium (2018)^[10] (119th) 0.597 medium IHDI (2018)^[11]
Labour force	1,316,023 (2019)^[12] 32.0% employment rate (2018)^[13]
Labour force by occupation	Agriculture: 12% Industry: 23% Services: 65% (2008 est.)
Unemployment	27.5% (Q1 2013)^[14]
Main industries	Cement, quarrying, textiles, soap, olive-wood carvings, mother-of-pearl souvenirs, food processing
External
Exports	$720 million (2011)^[15]
Export goods	Olives, fruit, vegetables, limestone, citrus, flowers, textiles
Main export partners	Israel 86% Jordan 5.12% United Arab Emirates 1.45% United States 1.13% Saudi Arabia 5.87% Turkey 4.34% (2023)^[16]
Imports	$4.2 billion (2011)^[15]
Import goods	Food, consumer goods, construction materials
Main import partners	Israel 38.67% Turkey 10.5% China 9.42% Jordan 5.78% Germany 5.03% (2021)^[16]
Public finances
Government debt	$4.2 billion (June 2013)^[17]
Budget balance	$1.3 billion (13% of GDP; 2012 est.)^[18]
Revenues	$2.2 billion (2012 est.)
Expenses	$3.54 billion (2012)^[18]
Foreign reserves	$464 million (march 2016)^[19]^[20] (163nd)
^[21]^[22] All values, unless otherwise stated, are in US dollars.