Palestine - Economy
How is the economy of Palestine? Based on the information we have, Palestine has a . Key agricultural products in this country include: tomatoes, milk, cucumbers/gherkins, olives, potatoes, sheep milk, eggplants, pumpkins/squash, grapes, chicken (2022).
More about the economy of Palestine
| Labor force | 1.389 million (2022 est.) |
|---|---|
| Industrial production growth rate | -8.57% (2023 est.) |
| Industries | textiles, food processing, furniture |
| Population below poverty line | 29.2% (2016 est.) |
| Taxes and other revenues | 21.47% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $1.323 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $896.9 million (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $872.541 million (2021 est.) |
| Current account balance | |
| Current account balance 2022 | -$2.037 billion (2022 est.) |
| Current account balance 2021 | -$1.778 billion (2021 est.) |
| Current account balance 2020 | -$1.903 billion (2020 est.) |
| Budget | |
| Revenues | $3.803 billion (2020 est.) |
| Expenditures | $5.002 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 21.84% of GDP (2023 est.) |
| Remittances 2022 | 21.13% of GDP (2022 est.) |
| Remittances 2021 | 20.77% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.9% (2016 est.) |
| Highest 10% | 25.2% (2016 est.) |
| Imports | |
| Imports 2022 | $12.257 billion (2022 est.) |
| Imports 2021 | $10.094 billion (2021 est.) |
| Imports 2020 | $8.065 billion (2020 est.) |
| Imports (partners) | Israel 57%, Turkey 6%, Egypt 6%, Jordan 4%, China 4% (2022) |
| Comodities Imports force | refined petroleum, electricity, animal food, cars, cement (2022) |
| Exports | |
| Imports 2022 | $12.257 billion (2022 est.) |
| Imports 2021 | $10.094 billion (2021 est.) |
| Imports 2020 | $8.065 billion (2020 est.) |
| Exports (partners) | Israel 81%, Jordan 10%, UAE 2%, US 1%, Turkey 1% (2022) |
| Comodities Exports force | building stone, scrap iron, plastic products, furniture, seats (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $27.418 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $29.016 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $27.878 billion (2021 est.) |
| GDP (official exchange rate) | $17.396 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $5,300 (2023 est.) |
| Real GDP per capita 2022 | $5,800 (2022 est.) |
| Real GDP per capita 2021 | $5,700 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 5.7% (2022 est.) |
| Industry | 17.4% (2022 est.) |
| Services | 58.3% (2022 est.) |
| GDP - composition, by end use | |
| Household consumption | 101.6% (2023 est.) |
| Government consumption | 20.2% (2023 est.) |
| Investment in fixed capital | 24.8% (2023 est.) |
| Investment in inventories | 1.5% (2023 est.) |
| Exports of goods and services | 19.6% (2023 est.) |
| Imports of goods and services | -66.9% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 24.42% (2022 est.) |
| Unemployment rate 2021 | 26.39% (2021 est.) |
| Unemployment rate 2020 | 25.9% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 36% (2022 est.) |
| Male | 31.6% (2022 est.) |
| Female | 56.7% (2022 est.) |
All Important Facts about Palestine
Want to know more about Palestine? Check all different factbooks for Palestine below.
