Palestine GDP Annual Growth Rate  2001-2017 | Data | Chart | Calendar

The Palestine economy increased 5.2 percent year-on-year in the third quarter of 2016, compared to an upwardly 3.5 percent expansion in the preceding quarter, preliminary estimates showed. Growth was faster for: mining, manufacturing, electricity and water (+8.4 percent from +5.7 percent in Q2), services sector (+6.5 percent form +5.6 percent) and public administration (+5.8 percent from +3.6 percent). In addition, output rebounded in wholesale and retail trade (+2 percent from -1.6 percent) and construction (+8.6 percent from -8.5 percent). On a quarterly basis, the GDP contracted 0.4 percent compared with a 2.3 percent gain in the previous quarter. GDP Annual Growth Rate in Palestine averaged 4.18 percent from 2001 until 2016, reaching an all time high of 26.03 percent in the third quarter of 2003 and a record low of -21.59 percent in the fourth quarter of 2006.

Palestine GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2013-12-22 12:30 PM Q3 2013 2.6% 1.2% 1.63%
2016-09-28 08:30 AM Q2 3.9% 8.0% 5.7%
2016-12-28 09:00 AM Q3 5.2% 3.5% 1.2%
2017-03-29 07:00 AM Q4 7.53%
2017-06-29 07:00 AM Q1 7.06%
2017-09-28 07:00 AM Q2 7.63%




Palestine GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 5.20 3.50 26.03 -21.59 percent [+]
GDP 6.90 6.80 6.90 3.04 USD Billion [+]
GDP per capita 1745.90 1734.60 1745.90 879.52 USD [+]
GDP per capita PPP 2465.10 2324.36 3041.80 2105.52 USD [+]
Gross Fixed Capital Formation 413.10 449.00 503.80 365.60 USD million [+]
Gdp Constant Prices 2023.10 2030.90 2030.90 778.50 USD million [+]
Gdp From Construction 142.80 136.80 205.80 16.80 USD million [+]
Gdp From Manufacturing 223.70 224.60 249.40 84.50 USD million [+]
Gdp From Mining 7.30 7.80 13.70 1.00 USD million [+]
Gdp From Public Administration 260.10 262.20 262.20 80.30 USD million [+]
Gdp From Services 423.10 417.00 423.10 200.60 USD million [+]
Gdp From Utilities 31.60 28.60 52.60 10.00 USD million [+]



Palestine GDP Annual Growth Rate Notes

The Palestinian territories (West Bank and Gaza) have been occupied by Israel since the Six-Day war in 1967. As such, Palestinian economy is dependent on Israel as it controls the movement of goods and labour and retains customs revenues. As a result, production capacity and access to natural resources has been significantly reduced and services are by far the most important sector of the economy (nearly 83 percent of GDP). Palestine remains heavily dependent on foreign aid to support the government’s budget and fund infrastructure development. Nonetheless, in recent months, Palestinian National Authority's efforts to ease tensions with Israel have resulted in growth returning to Palestine. Yet, the growth cannot be sustainable without addressing security problems and high unemployment rate among young people. This page provides the latest reported value for - Palestine GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Palestine GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
5.20 3.50 26.03 -21.59 2001 - 2016 percent Quarterly



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