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West Bank Economy 2014
http://www.theodora.com/wfbcurrent/west_bank/west_bank_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 31, 2014

Economy - overview:
The West Bank - the larger of the two areas comprising the Palestinian territories - has sustained a moderate rate of economic growth since 2008. Inflows of donor aid and government spending have driven most of the gains, however. Private sector development has been weak. After a multiyear downturn following the start of the second intifada in 2000, overall standard-of-living measures have recovered and now exceed levels seen in the late 1990s. Despite the Palestinian Authority's (PA) successful implementation of economic and security reforms and the easing of some movement and access restrictions by the Israeli Government, Israeli closure policies continue to disrupt labor and trade flows, industrial capacity, and basic commerce, eroding the productive capacity of the West Bank economy. The biggest impediments to economic improvements in the West Bank remain Palestinians' inability to access land and resources in Israeli-controlled areas, import and export restrictions, and a high-cost capital structure. The PA for the foreseeable future will continue to rely heavily on donor aid for its budgetary needs, and West Bank economic activity will depend largely on the PA''s ability to attract such aid.

GDP (purchasing power parity):
$8.022 billion (2011 est.)
country comparison to the world: 155

$7.589 billion (2010 est.)
$7.106 billion (2009 est.)
note: includes Gaza Strip
[see also: GDP country ranks ]

GDP (official exchange rate):
$6.641 billion
note: includes Gaza Strip (2008 est.)

GDP - real growth rate:
5.7% (2011 est.)
country comparison to the world: 47

6.8% (2010 est.)
7% (2009 est.)
note: includes Gaza Strip

GDP - per capita (PPP):
$2,900 (2008 est.)
country comparison to the world: 176
note: includes Gaza Strip

GDP - composition, by end use:
household consumption: 102.8%
government consumption: 30.3%
investment in fixed capital: 17.9%
investment in inventories: -4.2%
exports of goods and services: 16.3%
imports of goods and services: -63.1%

(2012 est.)
[see also: country ranks ]

GDP - composition, by sector of origin:
agriculture: 4.2%
industry: 17.9%
services: 77.9%
note: includes Gaza Strip (2012 est.)

Agriculture - products:
olives, citrus fruit, vegetables; beef, dairy products

Industries:
small-scale manufacturing, quarrying, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs

Industrial production growth rate:
5.7%
country comparison to the world: 47

Labor force:
982,300 (2012 est.)
country comparison to the world: 144

Labor force - by occupation:
agriculture: 16.1%
industry: 28.4%
services: 55.5%
note: includes Gaza Strip (2010 est.)

Unemployment rate:
23% (2012 est.)
country comparison to the world: 169

20.9% (2011 est.)

Population below poverty line:
18.3% (2010 est.)

Household income or consumption by percentage share:
lowest 10%: 3.2%
highest 10%: 28.2% (2009 est.)

Budget:
revenues: $2.1 billion
expenditures: $3.2 billion
note: includes Palestinian Authority expenditures in the Gaza Strip (2011 est.)

Taxes and other revenues:
31.6% of GDP (2011 est.)
country comparison to the world: 88

Budget surplus (+) or deficit (-):
-16.6% of GDP (2011 est.)
country comparison to the world: 214

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.8% (2012 est.)
country comparison to the world: 87

2.9% (2011 est.)
note: includes Gaza Strip

Commercial bank prime lending rate:
6.97% (31 December 2012 est.)
country comparison to the world: 131

6.79% (31 December 2011 est.)

Stock of narrow money:
$180.2 million (31 December 2012 est.)
country comparison to the world: 179

$136.6 million (31 December 2011 est.)

Stock of broad money:
$6.674 billion (31 December 2011 est.)
country comparison to the world: 118

$6.674 billion (31 December 2010 est.)

Stock of domestic credit:
$1.042 billion (31 December 2012 est.)
country comparison to the world: 151

$851.1 million (31 December 2011 est.)

Market value of publicly traded shares:
$2.532 billion (31 December 2011)
country comparison to the world: 95

$2.45 billion (31 December 2010)
$2.375 billion (31 December 2009)

Current account balance:
$-2.205 billion (2011 est.)
country comparison to the world: 144

$-690.7 million (2010 est.)

Exports:
$666.1 million (2010 est.)
country comparison to the world: 168

$846.1 million (2011 est.)
note: includes Gaza Strip

Exports - commodities:
stone, olives, fruit, vegetables, limestone

Imports:
$5.474 billion (2011 est.)
country comparison to the world: 125

$4.319 billion (2010 est.)
note: data include the Gaza Strip

Imports - commodities:
food, consumer goods, construction materials, petroleum, chemicals

Debt - external:
$1.04 billion (2010 est.)
country comparison to the world: 161

$1.3 billion (2007 est.)
note: data include the Gaza Strip

Exchange rates:
new Israeli shekels (ILS) per US dollar -

3.8559 (2012 est.)
3.578 (2011 est.)
3.73 (2010)
3.932 (2009)
3.588 (2008)


NOTE: The information regarding West Bank on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of West Bank Economy 2014 information contained here. All suggestions for corrections of any errors about West Bank Economy 2014 should be addressed to the CIA.



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