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EconomyEconomy - overview
The West Bank - the larger of the two areas comprising the Palestinian territories - has experienced a relatively high single-digit economic growth rate since 2008, but this rate has been sustained by inflows of donor aid rather than private sector economic activity. After suffering an almost decade-long downturn following the start of the second intifada in 2000, overall standard-of-living measures have recovered to the levels seen in the late 1990s. Despite the Palestinian Authority's (PA) largely successful implementation of economic and security reforms and the easing of some movement and access restrictions by the Israeli Government in 2010, Israeli closure policies continue to disrupt labor and trade flows, industrial capacity, and basic commerce, eroding the productive capacity of the West Bank economy. Since mid-2007 the PA under President Mahmoud ABBAS and Prime Minister Salam FAYYAD has depended on more than $3 billion in direct foreign donor assistance to the PA's budget. The biggest impediments to economic improvements in the West Bank remain Palestinians' lack of access to land and resources in Israeli-controlled areas, import and export restrictions, and a high-cost capital structure. Absent robust private sector growth, the PA will continue to rely heavily on donor aid for its budgetary needs. Gdp (purchasing power parity) World Ranking: 145
$12.79 billion (2009 est.)
$11.95 billion (2008) Note Includes Gaza Strip Gdp (official exchange rate)
$6.641 billion
Note Includes Gaza Strip (2008 est.) Gdp - real growth rate World Ranking: 31
7% (2009 est.)
2.3% (2008 est.) Note Includes Gaza Strip Gdp - per capita (ppp) World Ranking: 172
$2,900 (2008 est.)
Note Includes Gaza Strip Gdp - composition by sector
Agriculture 3.7%
Industry 13.6% Services 82.7% (includes Gaza Strip) (2011 est.) Labor force World Ranking: 150
745,600 (2010)
Labor force - by occupation
Agriculture 16.1%
Industry 28.4% Services 55.5% (2010 est.) Unemployment rate World Ranking: 172
23.5% (2011 est.)
16.5% (2010 est.) Population below poverty line
18.3% (2010 est.)
Household income or consumption by percentage share
Lowest 10% 3.2%
Highest 10% 28.2% Budget
Revenues $2.15 billion
Expenditures $3.23 billion Note Palestinian Authority, includes Gaza Strip (2011 est.) Taxes and other revenues World Ranking: 79
32.4% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 209
-16.3% of GDP (2011 est.)
Inflation rate (consumer prices) World Ranking: 125
5% (2011 est.)
6% (2010 est.) Note Includes Gaza Strip Commercial bank prime lending rate World Ranking: 130
7.3% (31 December 2011 est.)
7.3% (31 December 2010 est.) Stock of narrow money World Ranking: 167
$379.8 million (31 December 2011 est.) $232.6 million (31 December 2010 est.) Stock of broad money World Ranking: 116
$6.674 billion (31 December 2011 est.) $6.674 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 147
$1.503 billion (31 December 2011 est.) $1.353 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 94
$2.532 billion (31 December 2011) $2.45 billion (31 December 2010) $2.375 billion (31 December 2009) 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
NA%
Electricity - production World Ranking: 214
0 kWh
Note Electricity in the West Bank is imported mostly from Israel (2011 est.) Electricity - consumption World Ranking: 160
550 million kWh (2011 est.)
Electricity - exports
0 kWh (2011)
Electricity - imports
550 million kWh (2011 est.)
Oil - production World Ranking: 144
0 bbl/day
Note Data include the Gaza Strip (2010 est.) Oil - consumption World Ranking: 122
24,000 bbl/day
Note Data include the Gaza Strip (2010 est.) Oil - exports World Ranking: 207
0 bbl/day
Note Data include the Gaza Strip (2009 est.) Oil - imports World Ranking: 108
22,110 bbl/day
Note Data include the Gaza Strip (2009 est.) Oil - proved reserves World Ranking: 206
0 bbl
Note Data include the Gaza Strip (1 January 2009 est.) Natural gas - production World Ranking: 142
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 143
0 cu m (2009 est.)
Natural gas - exports World Ranking: 205
0 cu m (2009 est.)
Natural gas - imports World Ranking: 143
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 141
0 cu m (1 January 2011 est.)
Exports World Ranking: 169
$518 million (2009)
$529 million (2008) Note Includes Gaza Strip Exports - commodities
Stone, olives, fruit, vegetables, limestone Imports World Ranking: 137
$3.601 billion (2009)
$3.772 billion (2008) Note Data include the Gaza Strip Imports - commodities
Food, consumer goods, construction materials, petroleum, chemicals Debt - external World Ranking: 155
$1.04 billion (2010 est.)
$1.3 billion (2007 est.) Note Data include the Gaza Strip Exchange rates
New Israeli shekels (ILS) per US dollar - 3.5781 (2011)3.73 (2010) 3.932 (2009) 3.588 (2008) 4.14 (2007) Fiscal year
Calendar year
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West Bank:
GPS points from West Bank
Al Khudriyah West Bank (general)
Rujm Al Mitras West Bank (general)
Khirbat Al Makhrum West Bank (general)
Ra's Jirjis West Bank (general)
Khirbat Samarah West Bank (general)
Khirbat Kasfah West Bank (general)
Bir `amra West Bank (general)
`ain Turmus `aiya West Bank (general) |