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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.)
[see also: GDP (official exchange rate) country ranks ]

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
[see also: GDP - real growth rate country ranks ]

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

GDP - composition, by end use:
household consumption: 102.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
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.)

GDP - composition, by sector of origin:
agriculture: 4.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
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
[see also: Industrial production growth rate country ranks ]

Labor force:
982,300 (2012 est.)
country comparison to the world: 144
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 16.1%
[see also: Labor force - by occupation - agriculture country ranks ]
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.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
18.3% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.2% (2009 est.)

Budget:
revenues: $2.1 billion
[see also: Budget revenues country ranks ]
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
[see also: Taxes and other revenues country ranks ]

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

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
[see also: Inflation rate (consumer prices) country ranks ]

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

6.79% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

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

$136.6 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

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

$6.674 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

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

$851.1 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

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)
[see also: Market value of publicly traded shares country ranks ]

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

$-690.7 million (2010 est.)
[see also: Current account balance country ranks ]

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

$846.1 million (2011 est.)
note: includes Gaza Strip
[see also: Exports country ranks ]

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
[see also: Imports country ranks ]

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
[see also: Debt - external country ranks ]

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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