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Gaza Strip Economy 2017
https://theodora.com/wfbcurrent/gaza_strip/gaza_strip_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Gaza Strip Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Israeli security measures and Israeli-Palestinian violence continue to degrade economic conditions in the Gaza Strip, the smaller of the two areas comprising the Palestinian territories. Israeli-imposed border controls became more restrictive after HAMAS seized control of the territory in June 2007. They have produced high unemployment, elevated poverty rates, and a sharp contraction of the private sector, which had relied primarily on export markets.Egypt’s ongoing crackdown on the Gaza Strip’s extensive tunnel-based smuggling network has exacerbated fuel, construction material, and consumer goods shortages in the territory. The 51-day conflict in July 2014 that HAMAS and other Gaza-based militant groups fought with Israel further depressed the Gaza Strip’s already aid-dependent economy. Donor support for reconstruction and relaxed Israeli import restrictions in 2014 and 2015 have fallen short of postconflict needs, with almost 100,000 people remaining internally displaced because their homes have yet to be rebuilt or repaired.

GDP (purchasing power parity):
see entry for the West Bank
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.938 billion (2014 est.)
note: excludes the West Bank
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-15.2% (2014 est.) 5.6% (`) 7% (2012)
note: excludes the West Bank
country comparison to the world: 225
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
see entry for the the West Bank
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 90%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 25.6%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 24.8%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 16.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -56.8%
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
note: data exclude the West Bank (2016 est.)

GDP - composition, by sector of origin:
3.3% 21.7% 61.9%
note: data exclude the West Bank (2016 est.)

Agriculture - products:
olives, fruit, vegetables, flowers; beef, dairy products

Industries:
textiles, food processing, furniture

Industrial production growth rate:
4.5% see entry for the West Bank
country comparison to the world: 44
[see also: Industrial production growth rate country ranks ]

Labor force:
1.157 million
note: excludes the West Bank (2016 est.)
country comparison to the world: 141
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 5.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 10%
[see also: Labor force - by occupation - industry country ranks ]
services: 84.8%
[see also: Labor force - by occupation - services country ranks ]
note: data exclude the West Bank (2015 est.)

Unemployment rate:
26.1% (2016 est.) 25.9% (2015 est.)
note: data exclude the West Bank
country comparison to the world: 181
[see also: Unemployment rate country ranks ]

Population below poverty line:
30%
note: data exclude the West Bank (2011 est.)
[see also: Population below poverty line country ranks ]

Budget:
see entry for the West Bank

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.1% (2016 est.) 1.4% (2015 est.)
note: 2.9% excludes the West Bank
country comparison to the world: 36
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
see entry for the West Bank
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
see entry for the West Bank
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.356 billion (31 December 2014 est.) $2.16 billion (31 December 2013 est.)
country comparison to the world: 150
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.551 billion (31 December 2016 est.) $1.418 billion (31 December 2015 est.)
country comparison to the world: 151
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$2.894 billion (2014 est.) -$1.412 billion (2013 est.)
note: excludes the West Bank
country comparison to the world: 160
[see also: Current account balance country ranks ]

Exports:
$1.37 billion (2016 est.)
country comparison to the world: 147
[see also: Exports country ranks ]

Exports - commodities:
strawberries, carnations, vegetables, fish (small and irregular shipments, as permitted to transit the Israeli-controlled Kerem Shalom crossing)

Imports:
see entry for the West Bank
[see also: Imports country ranks ]

Imports - commodities:
food, consumer goods, fuel

Debt - external:
see entry for the West Bank
[see also: Debt - external country ranks ]

Exchange rates:
see entry for the West Bank

NOTE: The information regarding Gaza Strip on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Gaza Strip Economy 2017 information contained here. All suggestions for corrections of any errors about Gaza Strip Economy 2017 should be addressed to the CIA.




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