Gaza Strip Economy - 2024

Real GDP (purchasing power parity)

$27.779 billion (2021 est.)
$25.95 billion (2020 est.)
$29.262 billion (2019 est.)

see entry for the West Bank

Real GDP growth rate

7.05% (2021 est.)
-11.32% (2020 est.)
1.36% (2019 est.)

note: excludes the West Bank

Real GDP per capita

$5,600 (2021 est.)
$5,400 (2020 est.)
$6,200 (2019 est.)

see entry for the the West Bank

GDP (official exchange rate)

$2.938 billion (2014 est.)

note: excludes the West Bank

Inflation rate (consumer prices)

1.24% (2021 est.)
-0.74% (2020 est.)
1.58% (2019 est.)

note: excludes the West Bank

GDP - composition, by sector of origin

agriculture: 3% (2017 est.)

industry: 21.1% (2017 est.)

services: 75% (2017 est.)

note: data exclude the West Bank

GDP - composition, by end use

household consumption: 88.6% (2017 est.)

government consumption: 26.3% (2017 est.)

investment in fixed capital: 22.4% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 18.6% (2017 est.)

imports of goods and services: -55.6% (2017 est.)

note: data exclude the West Bank

Agricultural products

tomatoes, cucumbers, olives, poultry, milk, potatoes, sheep milk, eggplants, gourds

Industries

textiles, food processing, furniture

Industrial production growth rate

6.22% (2021 est.)

note: see entry for the West Bank

Labor force

1.249 million (2021 est.)

note: excludes the West Bank

Unemployment rate

24.9% (2021 est.)
25.89% (2020 est.)
25.34% (2019 est.)

note: data exclude the West Bank

Youth unemployment rate (ages 15-24)

total: 39.6% (2021 est.)

male: 33.7%

female: 69%

note: includes the West Bank

Population below poverty line

30% (2011 est.)

note: data exclude the West Bank

Gini Index coefficient - distribution of family income

33.7 (2016 est.)

Remittances

18.81% of GDP (2021 est.)
16.48% of GDP (2020 est.)
18.4% of GDP (2019 est.)

Budget

revenues: $3.803 billion (2020 est.)

expenditures: $5.002 billion (2020 est.)

see entry for the West Bank

Taxes and other revenues

18.78% (of GDP) (2018 est.)

Fiscal year

calendar year

Current account balance

-$1.486 billion (2021 est.)
-$1.903 billion (2020 est.)
-$1.779 billion (2019 est.)

note: excludes the West Bank

Exports

$3.18 billion (2021 est.)
$2.385 billion (2020 est.)
$2.659 billion (2019 est.)

Exports - commodities

building stone, scrap iron, plastic lids, furniture, seating, dates, olive oil (2021)

note: data includes both Gaza Strip and West Bank export commodities

Imports

$10.245 billion (2021 est.)
$8.065 billion (2020 est.)
$9.161 billion (2019 est.)

see entry for the West Bank

Imports - commodities

food, consumer goods, fuel

Reserves of foreign exchange and gold

$872.541 million (31 December 2021 est.)
$697.075 million (31 December 2020 est.)
$658.352 million (31 December 2019 est.)

Debt - external

see entry for the West Bank

Exchange rates

see entry for the West Bank