Economy - overview:
The West Bank - the larger of the two areas comprising the Palestinian territories - experienced a high single-digit economic growth rate in 2010 as a result of inflows of donor aid, the Palestinian Authority's (PA) implementation of economic and security reforms, and the easing of some movement and access restrictions by the Israeli Government. Nevertheless, overall standard-of-living measures remain near levels seen prior to the start of the second intifada in 2000. The almost decade-long downturn largely has been a result of Israeli closure policies - a steady increase in movement and access restrictions across the West Bank in response to Israeli security concerns which have disrupted labor and trade flows, industrial capacity, and basic commerce, both external and internal. Since 2008, the PA under President Mahmoud ABBAS and Prime Minister Salam FAYYAD has implemented a largely successful campaign of institutional reforms that has contributed to increased security and economic performance, supported by more than $3 billion in direct foreign donor assistance to the PA's budget since 2007. An easing of some Israeli restrictions on West Bank movement and access since 2008 also has contributed to an uptick in retail activity in larger cities. The biggest impediments to economic improvements in the West Bank remain Palestinians' lack of access to land and resources in Israeli-controlled areas, import and export restrictions, and a high-cost capital structure. Absent robust private sector growth, the PA will continue to rely heavily on donor aid for its budgetary needs.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Exports: Exports - commodities: Imports: Imports - commodities: Debt - external: Exchange rates:
NOTE: The information regarding West Bank on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of West Bank Economy 2011 information contained here. All suggestions for corrections of any errors about West Bank Economy 2011 should be addressed to the CIA.
$12.79 billion (2009 est.)
country comparison to the world: 141
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$6.641 billion (2008 est.)
[see also: GDP (official exchange rate) country ranks ]
7% (2009 est.)
country comparison to the world: 22
[see also: GDP - real growth rate country ranks ]
$2,900 (2008 est.)
country comparison to the world: 170
note:
data are in 2008 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
14%
[see also: GDP - composition by sector - industry country ranks ]
services:
81% (includes Gaza Strip) (2008 est.)
[see also: GDP - composition by sector - services country ranks ]
694,000 (2009)
country comparison to the world: 149
[see also: Labor force country ranks ]
agriculture: 12%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
23%
[see also: Labor force - by occupation - industry country ranks ]
services:
65% (June 2008)
[see also: Labor force - by occupation - services country ranks ]
16.5% (2010 est.)
country comparison to the world: 157
[see also: Unemployment rate country ranks ]
46% (2007 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $1.87 billion
[see also: Budget - revenues country ranks ]
expenditures:
$3.1 billion
[see also: Budget - expenditures country ranks ]
note:
Palestinian Authority, includes Gaza Strip (2009)
3.5% (2010 est.)
country comparison to the world: 103
note:
includes Gaza Strip
[see also: Inflation rate (consumer prices) country ranks ]
5.78% (31 December 2009 est.)
country comparison to the world: 126
[see also: Commercial bank prime lending rate country ranks ]
$NA (31 December 2008)
[see also: Stock of narrow money country ranks ]
$5.567 billion (31 December 2009)
[see also: Stock of broad money country ranks ]
$1.8 billion (31 December 2010 est.)
country comparison to the world: 129
[see also: Stock of domestic credit country ranks ]
$NA (31 December 2009)
country comparison to the world: 93
[see also: Market value of publicly traded shares country ranks ]
olives, citrus fruit, vegetables; beef, dairy products
small-scale manufacturing, quarrying, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs
NA% (2005)
[see also: Industrial production growth rate country ranks ]
500 million kWh
country comparison to the world: 161
note:
most imported electricity is from Israel; Jerusalem District Electric Company buys and distributes electricity to Palestinians in east Jerusalem and its concession in the West Bank; the Israel Electric Company directly supplies electricity to most Jewish residents and military facilities (2007 est.)
[see also: Electricity - production country ranks ]
3.265 billion kWh (2007 est.)
country comparison to the world: 122
[see also: Electricity - consumption country ranks ]
0 kWh (2008)
[see also: Electricity - exports country ranks ]
2.8 billion kWh (2007 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 122
[see also: Oil - production country ranks ]
24,000 bbl/day (2009 est.)
country comparison to the world: 119
[see also: Oil - consumption country ranks ]
511 bbl/day (2007 est.)
country comparison to the world: 125
[see also: Oil - exports country ranks ]
22,150 bbl/day (2007 est.)
country comparison to the world: 109
[see also: Oil - imports country ranks ]
NA bbl
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 112
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 163
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 99
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 115
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2009 est.)
country comparison to the world: 120
[see also: Natural gas - proved reserves country ranks ]
$529 million (2008)
country comparison to the world: 166
note:
includes Gaza Strip
[see also: Exports country ranks ]
stone, olives, fruit, vegetables, limestone
$3.772 billion (2008)
country comparison to the world: 130
[see also: Imports country ranks ]
food, consumer goods, construction materials, petroleum, chemicals
$1.04 billion (2010 est.)
country comparison to the world: 150
[see also: Debt - external country ranks ]
new Israeli shekels (ILS) per US dollar - 3.7461 (2010), 3.9326 (2009), 3.56 (2008), 4.14 (2007), 4.4565 (2006)
This page was last modified 09-Feb-11