Economy — Palestine
GDP, employment, industries, public finance, and currency.
Profile updated 2026-06-02
⚡ Economy at a glance
GDP, employment, industries, public finance, and currency. Key figure for Palestine: In 2017, the economic outlook in the West Bank - the larger of the two areas comprising the Palestinian Territories – remained fragile, as security concerns and political friction slowed economic growth. Unemployment in the West Bank remained high at 19.0% in the third quarter of 2017, only slightly better than 1…
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Economic overview
- Economic Overview
In 2017, the economic outlook in the West Bank - the larger of the two areas comprising the Palestinian Territories – remained fragile, as security concerns and political friction slowed economic growth. Unemployment in the West Bank remained high at 19.0% in the third quarter of 2017, only slightly better than 19.6% at the same point the previous year, while the labor force participation rate remained flat, year-on-year. Longstanding Israeli restrictions on imports, exports, and movement of goods and people continue to disrupt labor and trade flows and the territory’s industrial capacity, and constrain private sector development. The PA’s budget benefited from an effort to improve tax collection, coupled with lower spending in 2017, but the PA for the foreseeable future will continue to rely heavily on donor aid for its budgetary needs and infrastructure development.
- Industries
generally small family businesses that produce cement, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have established some small-scale, modern industries in the settlements and industrial centers
- GDP - per capita (PPP)
$4,300.00 (USD)
- GDP - real growth rate
5.1%
GDP & growth
- GDP - Gross Domestic Product (PPP)
$25,910,000,000 (USD)
- GDP Per Capita
$4,300.00 (USD)
- GDP - real growth rate
5.1%
- GDP - real growth rate note
note: excludes Gaza Strip
- GDP - official exchange rate
$9,828,000,000 (USD)
- GDP - official exchange rate note
excludes Gaza Strip
- GDP - composition, by end use
- household consumption: 85.7%
- government consumption: 21.9%
- investment in fixed capital: 26%
- investment in inventories: 2.3%
- exports of goods and services: 24.5%
- imports of goods and services: -60.4%
- note: excludes Gaza Strip
- GDP - note
includes Gaza Strip
- GDP - per capita (PPP) note
note: includes Gaza Strip
- GDP By Sector - note
note: excludes Gaza Strip
- GDP by Sector- agriculture
3.5%
- GDP by Sector- Industry
25.2%
- GDP by Sector- services
67.8%
Prices & money
- Inflation Rate
3.5%
- Exchange Rate per US Dollar
new Israeli shekel (ILS); Jordanian dinar (JOD)
- Currency Name and Code
ILS; JOD
- Fiscal Year
calendar year
- Commercial Bank Prime Lending Rate
6.8%
Employment & labor
- Labor Force
694,000
- Unemployment Rate
16.5%
- Major Industries
generally small family businesses that produce cement, textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have established some small-scale, modern industries in the settlements and industrial centers
- Agriculture Products
olives, citrus, vegetables; beef, dairy products
- Population Below Poverty Line
46%
Labor notes
- Labor Force by Occupation - note
includes Gaza Strip
Public finance
- Annual Budget
$1,870,000,000 (USD)
- Budget Surplus or Deficit - percent of GDP
-16.6%
- Taxes and other revenues - percent of GDP
31.6%