Overview: In 1991 roughly 40% of Gaza Strip workers were employed across the border by Israeli industrial, construction, and agricultural enterprises, with worker remittances accounting for about one-third of GNP. The construction, agricultural, and industrial sectors account for about 18%, 16%, and 12% of GNP, respectively. Gaza depends upon Israel for nearly 90% of its external trade. Aggravating the impact of Israeli military administration, unrest in the territory since 1988 (intifadah) has raised unemployment and lowered the standard of living of Gazans. The Persian Gulf crisis and its aftershocks also have dealt blows to Gaza since August 1990. Worker remittances from the Gulf states have dropped, unemployment has increased, and exports have fallen. The withdrawal of Israel from the Gaza Strip in May 1994 brings a new set of adjustment problems.

National product: GNP - exchange rate conversion - $840 million (1991 est.)

National product real growth rate: 1% (1991 est.)

National product per capita: $1,275 (1991 est.)

Inflation rate (consumer prices): 7% (1991 est.)

Unemployment rate: 20% (1991 est.)

Budget:
revenues: $33.6 million
expenditures: $34.5 million, including capital expenditures of $NA (FY90)

Exports: $75 million (f.o.b., 1991 est.)
commodities: citrus
partners: Israel, Egypt

Imports: $370 million (c.i.f., 1991 est.)
commodities: food, consumer goods, construction materials
partners: Israel, Egypt

External debt: $NA

Industrial production: growth rate 11% (1991 est.); accounts for about 12% of GNP

Electricity: power supplied by Israel

Industries: generally small family businesses that produce textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have established some small-scale modern industries in an industrial center

Agriculture: accounts for about 16% of GNP; olives, citrus and other fruits, vegetables, beef, dairy products

Economic aid: $NA

Currency: 1 new Israeli shekel (NIS) = 100 new agorot
Exchange rates: new Israeli shekels (NIS) per US$1 - 2.9760 (February 1994), 2.8301 (1993), 2.4591 (1992), 2.2791 (1991), 2.0162 (1990), 1.9164 (1989)

Fiscal year: calendar year (since 1 January 1992)

NOTE: The information regarding Gaza Strip on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gaza Strip Economy 1995 information contained here. All suggestions for corrections of any errors about Gaza Strip Economy 1995 should be addressed to the CIA.