West Bank Economy - 2024

Real GDP (purchasing power parity)

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

note: data are in 2017 dollars and includes Gaza Strip

Real GDP growth rate

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

note: excludes Gaza Strip

Real GDP per capita

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

note: data are in 2017 dollars and includes Gaza Strip

GDP (official exchange rate)

$9.828 billion (2014 est.)

note: excludes Gaza Strip

Inflation rate (consumer prices)

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

note: excludes Gaza Strip

GDP - composition, by sector of origin

agriculture: 2.9% (2017 est.)

industry: 19.5% (2017 est.)

services: 77.6% (2017 est.)

note: excludes Gaza Strip

GDP - composition, by end use

household consumption: 91.3% (2017 est.)

government consumption: 26.7% (2017 est.)

investment in fixed capital: 23% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 20% (2017 est.)

imports of goods and services: -61% (2017 est.)

note: excludes Gaza Strip

Agricultural products

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

Industries

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

Industrial production growth rate

6.22% (2021 est.)

note: includes Gaza Strip

Labor force

1.249 million (2021 est.)

note: excludes Gaza Strip

Unemployment rate

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

note: excludes Gaza Strip

Youth unemployment rate (ages 15-24)

total: 39.6% (2021 est.)

male: 33.7%

female: 69%

note: includes Gaza Strip

Population below poverty line

18% (2011 est.)

Gini Index coefficient - distribution of family income

33.7 (2016 est.)

note: includes Gaza Strip

Household income or consumption by percentage share

lowest 10%: 3.2%

highest 10%: 28.2% (2009 est.)

note: includes Gaza Strip

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.)

note: includes Palestinian Authority expenditures in the Gaza Strip

Budget surplus (+) or deficit (-)

0.4% (of GDP) (2017 est.)

Public debt

24.4% of GDP (2014 est.)
23.8% of GDP (2013 est.)

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.)

Exports

$3.18 billion (2021 est.) note: data are in current year dollars and includes Gaza Strip
$2.385 billion (2020 est.) note: data are in current year dollars and includes Gaza Strip
$2.659 billion (2019 est.)

note: excludes Gaza Strip

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.) note: data are in current year dollars and includes Gaza Strip
$8.065 billion (2020 est.) note: data are in current year dollars and includes Gaza Strip
$9.161 billion (2019 est.)

note: data include the Gaza Strip

Imports - commodities

food, consumer goods, construction materials, petroleum, chemicals

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

$1.662 billion (31 March 2016 est.)
$1.467 billion (31 March 2015 est.)

note: data include the Gaza Strip

Exchange rates

new Israeli shekels (ILS) per US dollar -

Exchange rates:
3.606 (2017 est.)
3.841 (2016 est.)
3.841 (2015 est.)
3.8869 (2014 est.)
3.5779 (2013 est.)