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Indicators of economy in Palestine

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12.259 USD per capita. GDP in Palestine, on the other hand, reached USD 3.664 per capita, or 18.04 billion USD in the whole country. Palestine is one of the smaller economies and is currently ranked 124. If this is calculated per inhabitant taking into account the purchasing power parity, then Palestine is in the list of the world's richest countries in place 128.

Inflation in Palestine was in 2021 at around 1.24%. Within the EU, the average in the same year was 2.55%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 100.0% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Palestine

Impact of the Covid-19 pandemic

The consequences of the Covid pandemic were not insignificant in Palestine 2020. Overall, gross domestic product in 2020 fell from 17.13 billion US Dollar auf 15.53 billion US Dollar. With a drop of 9.3 percent, the economy in Palestine suffered more significant losses than other countries.. The unemployment rate rose from 25.3 to 25.9 percent. The inflation rate has fallen from 1.6 percent previously to -0.7 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2021

 Palestine
Total
Palestine
per capita
EU
Total
EU
per capita
GDP18.04 bn USD3,663.97 USD17.09 tn USD33,228.68 USD
Gross national product20.77 bn USD4,219.21 USD16.78 tn USD32,621.03 USD


Development of the Gross domestic product in billion US Dollar 1994 - 2021



Im- and Exports 2020

 Palestine
Total
Palestine
per capita
EU
Total
EU
per capita
Imports9.15 bn USD1,859.35 USD8,916.24 bn USD17,337.55 USD
Exports2.65 bn USD538.81 USD9,554.34 bn USD18,578.33 USD


Development of imports and exports in millions of USD 1995 - 2020

Exports
Imports



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