Overview: The relatively poor economy of the Gaza Strip--heavily dependent on the economic vitality of Israel--has slowed during the 1980s as growth declined and per capita GNP deteriorated. Nearly half of the labor force is employed by Israeli industrial, construction, and agricultural enterprises, with worker transfer funds accounting for 40% of GNP in 1986. The once dominant agricultural sector now contributes only 13% to GNP, about the same as that of the construction sector, and industry accounts for 7%. Gaza depends upon Israel for 90% of its imports and as a market for 80% of its exports. Unrest in the territory during the past year has raised unemployment and lowered the incomes of the population.

GNP: $560 million, per capita $1,035; real growth rate NA% (1986)

Inflation rate (consumer prices): NA%

Unemployment rate: NA%

Budget: revenues $36.6 million; expenditures $32.0 million, including capital expenditures of NA (1986)

Exports: $139.7 million; @m5commodities--citrus; @m5partners--Egypt and Israel (1986)

Imports: $378.0 million; @m5commodities--food, consumer goods, construction materials; @m5partners--Egypt and Israel (1986)

External debt: $NA

Industrial production: growth rate NA%

Electricity: power supplied by Israel

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

Agriculture: olives, citrus and other fruits, vegetables, beef, dairy products

Aid: NA

Currency: new Israeli shekel (plural--shekels); 1 new Israeli shekel (NIS) = 100 new agorot

Exchange rates: new Israeli shekels (NIS) per US$1--1.8157 (January 1989), 1.5992 (1988), 1.5946 (1987), 1.4878 (1986), 1.1788 (1985)

Fiscal year: 1 April-March 31

NOTE: The information regarding Gaza Strip on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gaza Strip Economy 1989 information contained here. All suggestions for corrections of any errors about Gaza Strip Economy 1989 should be addressed to the CIA.