Economy - overview:
In 2017, the economic outlook in the West Bank - the larger of the two areas comprising the Palestinian Territories – remained fragile, as security concerns and political friction slowed economic growth. Unemployment in the West Bank remained high at 19.0% in the third quarter of 2017, only slightly better than 19.6% at the same point the previous year, while the labor force participation rate remained flat, year-on-year.

Longstanding Israeli restrictions on imports, exports, and movement of goods and people continue to disrupt labor and trade flows and the territory’s industrial capacity, and constrain private sector development. The PA’s budget benefited from an effort to improve tax collection, coupled with lower spending in 2017, but the PA for the foreseeable future will continue to rely heavily on donor aid for its budgetary needs and infrastructure development.

GDP (purchasing power parity):
$21.22 billion (2014 est.)
$20.15 billion (2013 est.)
$19.95 billion (2012 est.)
note: data are in 2014 US dollars; includes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 147
[see also: GDP country ranks ]

GDP (official exchange rate):
$9.828 billion (2014 est.)
note: excludes Gaza Strip
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.3% (2014 est.)
1% (2013 est.)
6% (2012 est.)
note: excludes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 45
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$4,300 (2014 est.)
$4,400 (2013 est.)
$4,600 (2012 est.)
note: includes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 175
[see also: GDP - per capita country ranks ]

Gross national saving:
7.8% of GDP (2014 est.)
9.5% of GDP (2013 est.)
5% of GDP (2012 est.)
note: includes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 170
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 91.3% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 26.7% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 23% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 20% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -61% (2017 est.)
note: excludes Gaza Strip

GDP - composition, by sector of origin:
agriculture: 2.9% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 19.5% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 77.6% (2017 est.)
note: excludes Gaza Strip

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

Industries:
small-scale manufacturing, quarrying, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs

Industrial production growth rate:
2.2% (2017 est.)
note: includes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 127
[see also: Industrial production growth rate country ranks ]

Labor force:
1.24 million (2017 est.)
note: excludes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 139
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 11.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 34.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 54.1% (2013 est.)
note: excludes Gaza Strip

Unemployment rate:
27.9% (2017 est.)
27% (2016 est.)
note: excludes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 202
[see also: Unemployment rate country ranks ]

Population below poverty line:
18% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.2% (2009 est.)
note: includes Gaza Strip

Distribution of family income - Gini index:
34.5 (2009 est.)
38.7 (2007 est.)
note: includes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 103
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 1.314 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 1.278 billion (2017 est.)
note: includes Palestinian Authority expenditures in the Gaza Strip

Taxes and other revenues:
13.4% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 207
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.4% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 39
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
24.4% of GDP (2014 est.)
23.8% of GDP (2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 177
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.2% (2017 est.)
-0.2% (2016 est.)
note: excludes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 18
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
5.8% (31 December 2017 est.)
6.15% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 128
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$416.5 million (31 December 2017 est.)
$317.8 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 176
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$416.5 million (31 December 2017 est.)
$317.8 million (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 180
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.211 billion (31 December 2017 est.)
$1.712 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 147
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$3.339 billion (31 December 2015 est.)
$3.187 billion (31 December 2014 est.)
$3.247 billion (31 December 2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 91
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.444 billion (2017 est.)
-$1.348 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 153
[see also: Current account balance country ranks ]

Exports:
$2.126 billion (2017 est.)
$1.827 billion (2016 est.)
note: excludes Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 138
[see also: Exports country ranks ]

Exports - commodities:
stone, olives, fruit, vegetables, limestone

Imports:
$6.565 billion (2017 est.)
$6.207 billion (2016 est.)
note: data include the Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 117
[see also: Imports country ranks ]

Imports - commodities:
food, consumer goods, construction materials, petroleum, chemicals

Reserves of foreign exchange and gold:
$0 (31 December 2017 est.)
$583 million (31 December 2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 195
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.662 billion (31 March 2016 est.)
$1.467 billion (31 March 2015 est.)
note: data include the Gaza Strip
country comparison to the world (CIA rank, may be based on non-current data): 158
[see also: Debt - external country ranks ]

Exchange rates:
new Israeli shekels (ILS) per US dollar -
3.606 (2017 est.)
3.841 (2016 est.)
3.841 (2015 est.)
3.8869 (2014 est.)
3.5779 (2013 est.)