Overview: Nearly half of the labor force of the Gaza Strip is employed across the border by Israeli industrial, construction, and agricultural enterprises, with worker transfer funds accounting for 40% of GNP in 1989. 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 in 1988-89 (intifadah) has raised unemployment and substantially lowered the incomes of the population.

GNP: $380 million, per capita $650; real growth rate NA% (1988)

Inflation rate (consumer prices): NA%

Unemployment rate: NA%

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

Exports: $88 million; commodities--citrus; partners--Israel, Egypt (1989 est.)

Imports: $260 million; commodities--food, consumer goods, construction materials; partners--Israel, Egypt (1989 est.)

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: none

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

Exchange rates: new Israeli shekels (NIS) per US$1--1.9450 (January 1990), 1.9164 (1989), 1.5989 (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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gaza Strip Economy 1990 information contained here. All suggestions for corrections of any errors about Gaza Strip Economy 1990 should be addressed to the CIA.