1UpTravel


 

You are here > 1Up Travel > Countries of the World > Middle East > Gaza Strip



ADVERTISEMENT

Country

 Country Facts

  Introduction

  Geography

  People

  Government

  Economy

  Communications

  Transportation

  Military

  Maps & Cities

  Transnational issues


Related

  Gaza Strip Guide
  Gaza Strip Maps
  Gaza Strip Geography
  Gaza Strip Travel Warning



Travel & Tourism . Tourist Guide to the Country

Gaza Strip Economy




Gaza Strip    Economy Top of Page
Economy - overview: Economic output in the Gaza Strip - which comes under the responsibility of the Palestinian Authority since the Cairo Agreement of May 1994 - declined perhaps one-third between 1992 and 1996. The downturn was largely the result of Israeli closure policies - the imposition of generalized border closures in response to security incidents in Israel - which disrupted previously established labor and commodity market relationships between Israel and the WBGS (West Bank and Gaza Strip). The most serious negative social effect of this downturn was the emergence of high unemployment; unemployment in the WBGS during the 1980s was generally under 5%; by 1995 it had risen to over 20%. Since 1997 Israel's use of comprehensive closures has decreased and, in 1998, Israel implemented new policies to reduce the impact of closures and other security procedures on the movement of Palestinian goods and labor. These changes fueled an almost three-year long economic recovery in the West Bank and Gaza Strip; real GDP grew by 5% in 1998 and 6% in 1999. Recovery was upended in the last quarter of 2000 with the outbreak of Palestinian violence, which triggered tight Israeli closures of Palestinian self-rule areas and a severe disruption of trade and labor movements.
GDP: purchasing power parity - $1.11 billion (2000 est.)
GDP - real growth rate: -7.5% (2000 est.)
GDP - per capita: purchasing power parity - $1,000 (2000 est.)
GDP - composition by sector: agriculture:  9%

industry:  28%

services:  63% (1999 est., includes West Bank)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 3% (includes West Bank) (2000 est.)
Labor force: NA
Labor force - by occupation: services 66%, industry 21%, agriculture 13% (1996)
Unemployment rate: 40% (includes West Bank) (yearend 2000)
Budget: revenues:  $1.6 billion

expenditures:  $1.73 billion, including capital expenditures of $NA

note:  includes West Bank (1999 est.)
Industries: generally small family businesses that produce textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have established some small-scale modern industries in an industrial center
Industrial production growth rate: NA%
Electricity - production: NA kWh; note - electricity supplied by Israel
Electricity - consumption: NA kWh
Electricity - exports: 0 kWh (1999)
Electricity - imports: NA kWh; note - electricity supplied by Israel
Agriculture - products: olives, citrus, vegetables; beef, dairy products
Exports: $682 million (f.o.b., 1998 est.) (includes West Bank)
Exports - commodities: citrus, flowers
Exports - partners: Israel, Egypt, West Bank
Imports: $2.5 billion (c.i.f., 1998 est.) (includes West Bank)
Imports - commodities: food, consumer goods, construction materials
Imports - partners: Israel, Egypt, West Bank
Debt - external: $108 million (1997 est.) (includes West Bank)
Economic aid - recipient: $121 million disbursed (2000) (includes West Bank)
Currency: new Israeli shekel (ILS)
Currency code: ILS
Exchange rates: new Israeli shekels per US dollar - 4.0810 (December 2000), 4.0773 (2000), 4.1397 (1999), 3.8001 (1998), 3.4494 (1997), 3.1917 (1996)
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook






Make 1Up Travel your HomepageSend this Page to a FriendGo to Top of PagePrint this PageAdd 1Up Travel to your Favorites


CHANNELS

Compare Country InfoHotel DirectoryGeographyFlagsWorld MapsTravel WarningsNational Parks

DESTINATIONS

AsiaAfricaCaribbeanMiddle EastNorth AmericaSouth AmericaCentral AmericaOceania PacificEuropePolar Regions

PHOTO SPECIAL

DestinationsMonumentsAncient WondersModern Wonders Natural Wonders

UTILITIES

World TimeISD CodesTravel Links Link Exchange

 



Disclaimer: Although we've tried to make the information on this web site as accurate as possible, we accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities before you travel.

Copyright © 1Up Travel All Rights Reserved.
Go Up

Privacy Policy