| Introduction - West Bank: |
| Location - West Bank: |
| People - West Bank: |
| Government - West Bank: |
| Economy - West Bank: |
Economy overview | The West Bank - the larger of the two areas under the Palestinian Authority (PA) - has experienced a general decline in economic conditions since the second intifadah began in September 2000. The downturn has been largely the result of Israeli closure policies - the imposition of border closures in response to security incidents in Israel - which disrupted labor and trading relationships. In 2001, and even more severely in 2002, Israeli military measures in PA areas resulted in the destruction of capital, the disruption of administrative structures, and widespread business closures. International aid of at least $1.14 billion to the West Bank and Gaza Strip in 2004 prevented the complete collapse of the economy and allowed some reforms in the governments financial operations. In 2005, high unemployment and limited trade opportunities - due to continued closures both within the West Bank and externally - stymied growth. Israels and the international communitys financial embargo of the PA since HAMAS took office in March 2006 has interrupted the provision of PA social services and the payment of PA salaries. |
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Gdp purchasing power parity | $5.327 billion (includes Gaza Strip) (2005 est.) |
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Gdp official exchange rate | $3.45 billion (includes Gaza Strip) (2003) |
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Gdp real growth rate | 4.9% (includes Gaza Strip) (2005 est.) |
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Gdp per capita ppp | $1,500 (includes Gaza Strip) (2005 est.) |
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Gdp composition by sector | agriculture: 8%
industry: 18.2%
services: 73.9% (includes Gaza Strip) (2005 est.) |
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Labor force | 568,000 (2005) |
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Labor force by occupation | agriculture: 16%
industry: 29%
services: 55% (2005) |
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Unemployment rate | 20.3% (includes Gaza Strip) (2005) |
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Population below poverty line | 45.7% (2005) |
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Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% |
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Inflation rate consumer prices | 2.9% (includes Gaza Strip) (2005) |
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Budget | revenues: $1.23 billion
expenditures: $1.64 billion; including capital expenditures of $44 million (includes Gaza Strip) (2005) |
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Agriculture products | olives, citrus, vegetables; beef, dairy products |
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Industries | generally small family businesses that produce cement, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have established some small-scale, modern industries in the settlements and industrial centers |
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Industrial production growth rate | 2.4% (includes Gaza Strip) (2005) |
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Electricity production | NA kWh; note - most electricity imported from Israel; East Jerusalem 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; some Palestinian municipalities, such as Nablus and Janin, generate their own electricity from small power plants |
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Electricity consumption | NA kWh |
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Electricity imports | NA kWh |
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Exports | $301 million f.o.b.; (includes Gaza Strip) (2005) |
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Exports commodities | olives, fruit, vegetables, limestone |
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Exports partners | Israel, Jordan, Gaza Strip (2006) |
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Imports | $2.44 billion c.i.f.; (includes Gaza Strip) (2005) |
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Imports commodities | food, consumer goods, construction materials |
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Imports partners | Israel, Jordan, Gaza Strip (2006) |
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Debt external | $NA |
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Economic aid recipient | $1.14 billion; (includes Gaza Strip) (2004) |
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Currency code | new Israeli shekel (ILS); Jordanian dinar (JOD) |
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Exchange rates | new Israeli shekels per US dollar - 4.4565 (2006), 4.4877 (2005), 4.482 (2004), 4.5541 (2003), 4.7378 (2002) |
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| Communications - West Bank: |
| Transportation - West Bank: |
| Military - West Bank: |
This page was last updated on 16 September, 2007