Palestine GDP Annual Growth Rate  2001-2016 | Data | Chart | Calendar

The Palestine economy advanced by 3.9 percent year-on-year in the second quarter of 2016, compared to a 8 percent expansion in the preceding quarter, preliminary estimates showed. Growth slowed in services sector (+7.5 percent form 9.3 percent in Q1); mining, manufacturing, electricity and water (+5.6 percent from +6.8 percent) and public administration (+3.6 percent from +5.2 percent). By contrast, wholesale and retail trade contracted (-1.6 percent from -1.2 percent) and construction shrank sharply (-8.8 percent from +44.3 percent). On a quarterly basis, GDP expanded 1.7 percent. GDP Annual Growth Rate in Palestine averaged 4.16 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)
2013-09-30 01:00 PM Q2 2013 1.2% 2.7% -1.17%
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 3.9% 1.2%
2017-09-28 08:30 AM Q2
2017-12-28 09:00 AM Q3




Palestine GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 3.90 8.00 26.03 -21.59 percent [+]
GDP 6.90 6.80 6.90 3.04 USD Billion [+]
GDP per capita 1638.12 1653.00 1653.00 879.52 USD [+]
GDP per capita PPP 2465.10 2324.36 3041.80 2105.52 USD [+]
Gross Fixed Capital Formation 479.10 480.20 503.80 365.60 USD million [+]
Gdp Constant Prices 2035.20 2000.50 2035.20 778.50 USD million [+]
Gdp From Construction 153.70 186.60 205.80 16.80 USD million [+]
Gdp From Manufacturing 224.60 212.30 249.40 84.50 USD million [+]
Gdp From Mining 8.10 6.50 13.70 1.00 USD million [+]
Gdp From Public Administration 256.70 245.00 261.80 80.30 USD million [+]
Gdp From Services 414.00 406.20 414.00 200.60 USD million [+]
Gdp From Utilities 28.40 34.00 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
3.90 8.00 26.03 -21.59 2001 - 2016 percent Quarterly



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