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    Gaza Strip Economy - 1991

      Overview: Nearly half 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 46% of GNP in 1990. 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 1988-91 (intifadah) has raised unemployment and substantially lowered the incomes of the population. Furthermore, the Persian Gulf crisis dealt a severe blow to the Gaza Strip in 1990 and on into 1991. Worker remittances from the Gulf states have plunged, unemployment has increased, and export revenues have fallen dramatically. The risk of malnutrition is a real possibility in 1991.

      GNP: $270 million, per capita $430; real growth rate - 25% (1990 est.)

      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

      Economic 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--2.0120 (January 1991), 2.0162 (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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gaza Strip Economy 1991 information contained here. All suggestions for corrections of any errors about Gaza Strip Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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