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, goat milk (2023).
More about the economy of Palestine
| Labor force | 1.391 million (2022 est.) |
|---|---|
| Industrial production growth rate | -32.2% (2024 est.) |
| Industries | textiles, food processing, furniture |
| Population below poverty line | 29.2% (2016 est.) |
| Taxes and other revenues | 21.5% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $1.328 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $1.323 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $896.9 million (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$2.899 billion (2024 est.) |
| Current account balance 2023 | -$2.895 billion (2023 est.) |
| Current account balance 2022 | -$2.037 billion (2022 est.) |
| Budget | |
| Revenues | $3.803 billion (2020 est.) |
| Expenditures | $5.002 billion (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 5.4% of GDP (2024 est.) |
| Remittances 2023 | 18.2% of GDP (2023 est.) |
| Remittances 2022 | 24% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 2.5% (2023 est.) |
| Highest 10% | 27.1% (2023 est.) |
| Imports | |
| Imports 2024 | $8.264 billion (2024 est.) |
| Imports 2023 | $11.637 billion (2023 est.) |
| Imports 2022 | $12.257 billion (2022 est.) |
| Imports (partners) | Egypt 25%, Jordan 17%, China 8%, Germany 7%, UAE 7% (2023) |
| Comodities Imports force | cement, raw sugar, cars, baked goods, perfumes (2023) |
| Exports | |
| Imports 2024 | $8.264 billion (2024 est.) |
| Imports 2023 | $11.637 billion (2023 est.) |
| Imports 2022 | $12.257 billion (2022 est.) |
| Exports (partners) | Jordan 51%, Turkey 12%, UAE 8%, Saudi Arabia 5%, UK 4% (2023) |
| Comodities Exports force | scrap iron, tropical fruits, olive oil, building stone, prepared meat (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $20.339 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $27.694 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $29.016 billion (2022 est.) |
| GDP (official exchange rate) | $13.711 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $3,800 (2024 est.) |
| Real GDP per capita 2023 | $5,400 (2023 est.) |
| Real GDP per capita 2022 | $5,800 (2022 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 | 95.5% (2024 est.) |
| Government consumption | 20.7% (2024 est.) |
| Investment in fixed capital | 21.8% (2024 est.) |
| Investment in inventories | 1.7% (2024 est.) |
| Exports of goods and services | 21% (2024 est.) |
| Imports of goods and services | -60.3% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 24.5% (2022 est.) |
| Unemployment rate 2021 | 26.4% (2021 est.) |
| Unemployment rate 2020 | 25.9% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 36.1% (2022 est.) |
| Male | 31.6% (2022 est.) |
| Female | 56.6% (2022 est.) |
All Important Facts about Palestine
Want to know more about Palestine? Check all different factbooks for Palestine below.
