| Introduction - Gaza Strip: |
| Location - Gaza Strip: |
| People - Gaza Strip: |
| Government - Gaza Strip: |
| Economy - Gaza Strip: |
Economy overview | High population density, limited land access, and strict internal and external security controls have kept economic conditions in the Gaza Strip - the smaller of the two areas under the Palestinian Authority (PA)- even more degraded than in the West Bank. The beginning of the second intifadah in September 2000 sparked an economic downturn, largely the result of Israeli closure policies; these policies, which were imposed to address security concerns in Israel, disrupted labor and trade access to and from the Gaza Strip. In 2001, and even more severely in 2003, Israeli military measures in PA areas resulted in the destruction of capital, the disruption of administrative structures, and widespread business closures. The Israeli withdrawal from the Gaza Strip in September 2005 offered some medium-term opportunities for economic growth, which have not yet been realized due to Israeli military activities in the Gaza Strip in 2006, continued crossings closures, and the international communitys financial embargo of the PA after HAMAS took office in March 2006. |
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Gdp purchasing power parity | $5.327 billion (includes West Bank) (2005 est.) |
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Gdp official exchange rate | $3.45 billion (includes West Bank) (2003 est.) |
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Gdp real growth rate | 4.9% (includes West Bank) (2005 est.) |
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Gdp per capita ppp | $1,500 (includes West Bank) (2003 est.) |
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Gdp composition by sector | agriculture: 8%
industry: 18.2%
services: 73.9% (includes West Bank) (2005 est.) |
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Labor force | 259,000 (2005) |
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Labor force by occupation | agriculture: 12%
industry: 18%
services: 70% (2005) |
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Unemployment rate | 20.3% (includes West Bank) (2005) |
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Population below poverty line | 63.1% (2005 est.) |
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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 West Bank) (2005) |
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Budget | revenues: $1.23 billion
expenditures: $1.64 billion; including capital expenditures of $44 million; (includes West Bank) (2005) |
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Agriculture products | olives, citrus, vegetables; beef, dairy products |
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Industries | generally small family businesses that produce textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis had established some small-scale modern industries in an industrial center, but operations ceased prior to Israels evacuation of Gaza Strip settlements |
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Industrial production growth rate | 2.4% (includes West Bank) (2005) |
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Electricity production | 140,000 kWh (2005) |
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Electricity consumption | 230,000 kWh (2005) |
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Electricity exports | 0 kWh (2005) |
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Electricity imports | 90,000 kWh; note - from Israeli Electric Company (2005) |
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Exports | $301 million f.o.b.; (includes West Bank) (2005) |
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Exports commodities | citrus, flowers, textiles |
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Exports partners | Israel, Egypt, West Bank (2006) |
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Imports | $2.44 billion c.i.f.; (includes West Bank) (2005) |
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Imports commodities | food, consumer goods, construction materials |
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Imports partners | Israel, Egypt, West Bank (2006) |
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Debt external | $NA |
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Economic aid recipient | $1.14 billion; (includes West Bank) (2004 est.) |
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Currency code | new Israeli shekel (ILS) |
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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 - Gaza Strip: |
| Transportation - Gaza Strip: |
| Military - Gaza Strip: |
This page was last updated on 16 September, 2007