Palestine GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Palestine expanded 2.60 percent in the third quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Palestine is reported by the Palestinian Central Bureau of Statistics. From 2001 until 2013, Palestine GDP Annual Growth Rate averaged 4.5 Percent reaching an all time high of 26.0 Percent in September of 2003 and a record low of -21.6 Percent in December of 2006. 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 - Palestine GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-20

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.60 1.20 26.03 -21.59 1.62 | 2014/06 2001 - 2013 Percent Quarterly

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Palestine GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-30 01:00 PM Palestine
GDP Growth Rate YoY
Q1 2013 2.7% 5.3% 6.92%
2013-09-30 01:00 PM Palestine
GDP Growth Rate YoY
Q2 2013 1.2% 2.7% -1.17%
2013-12-22 12:30 PM Palestine
GDP Growth Rate YoY
Q3 2013 2.6% 1.2% 1.63%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 6.80 2012-12-31 6.42 6.80 3.04 7.47 2014-06-30 USD Billion [+]
GDP Annual Growth Rate 2.60 2013-09-30 1.20 26.03 -21.59 1.62 2014-06-30 Percent [+]
GDP per capita 1653.00 2012-12-31 1609.90 1653.00 879.52 1706.27 2014-06-30 USD [+]
GDP per capita PPP 2465.10 2005-12-31 2324.36 3041.80 2105.52 2475.03 2006-12-31 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Palestine Inflation Rate at 2.58 Percent  
The inflation rate in Palestine was recorded at 2.58 percent in March of 2014. Inflation Rate in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine Balance of Trade at -303.30 USD Million  
Palestine recorded a trade deficit of 303.30 USD Million in November of 2013. Balance of Trade in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine Industrial Production at -6.90 Percent  
Industrial Production in Palestine decreased 6.90 percent in January of 2014 over the same month in the previous year. Industrial Production in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine Unemployment Rate at 25.20 Percent  
Unemployment Rate in Palestine increased to 25.20 percent in the fourth quarter of 2013 from 23.70 percent in the third quarter of 2013. Unemployment Rate in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine Current Account at -298.90 USD Million  
Palestine recorded a Current Account deficit of 298.90 USD Million in the third quarter of 2013. Current Account in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine Imports at 388.30 USD Million  
Imports in Palestine decreased to 388.30 USD Million in November of 2013 from 394.90 USD Million in October of 2013. Imports in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine Exports at 85.00 USD Million  
Exports in Palestine increased to 85 USD Million in November of 2013 from 71.60 USD Million in October of 2013. Exports in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine GDP Annual Growth Rate at 2.60 Percent  
The Gross Domestic Product (GDP) in Palestine expanded 2.60 percent in the third quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Palestine is reported by the Palestinian Central Bureau of Statistics.
Palestine GDP per capita at 1653.00 USD  
The Gross Domestic Product per capita in Palestine was last recorded at 1653 US dollars in 2012. The GDP per Capita in Palestine is equivalent to 13 percent of the worlds average. GDP per capita in Palestine is reported by the Palestine Monetary Authority.
Palestine GDP at 6.80 USD Billion  
The Gross Domestic Product (GDP) in Palestine was worth 6.80 billion US dollars in 2012. The GDP value of Palestine represents 0.01 percent of the world economy. GDP in Palestine is reported by the World Bank.
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