The Palestine economy advanced 2.5 percent year-on-year in the second quarter of 2019, easing from a 3.8 percent expansion in the previous period. Net foreign trade contributed negatively to growth, as exports advanced 1.5 percent (from 4.2 percent in Q1) while imports rose 4.3 percent (from 10.9 percent in Q1). Meantime, final consumption output increased at a much softer pace (2.8 percent vs 6.8 percent). On the other hand, gross fixed capital formation production advanced faster (3.0 percent vs 0.4 percent). On a quarterly basis, the GDP contracted 2.0 percent, following a 2.5 percent fall in the first quarter of 2018. GDP Annual Growth Rate in Palestine averaged 3.85 percent from 2001 until 2019, reaching an all time high of 26.03 percent in the third quarter of 2003 and a record low of -21.59 percent in the fourth quarter of 2006.

GDP Annual Growth Rate in Palestine is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Palestine to stand at 2.00 in 12 months time. In the long-term, the Palestine GDP Annual Growth Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.

Palestine GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-16 08:00 AM GDP Growth Rate YoY Q3 -0.5% -1.3% 1.80%
2019-04-01 06:00 AM GDP Growth Rate YoY Q4 3.4% -0.5% 0.5%
2019-07-02 03:00 AM GDP Growth Rate YoY Q1 3.8% 3.4% 1.6%
2019-09-30 11:00 AM GDP Growth Rate YoY Q2 2.5% 3.8% 2.1%
2019-12-30 07:00 AM GDP Growth Rate YoY Q3 2.5% 1.8%


Palestine GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 2.50 3.80 26.03 -21.59 percent [+]
GDP 14.50 13.43 14.50 0.18 USD Billion [+]
GDP per capita 2923.40 2923.40 2966.80 879.52 USD [+]
Gross Fixed Capital Formation 770.20 751.70 821.90 365.60 USD million [+]
GDP Constant Prices 3434.70 3504.60 3594.90 778.50 USD Million [+]
GDP From Agriculture 97.40 101.60 124.90 46.80 USD Million [+]
GDP From Construction 221.10 214.40 236.60 16.80 USD Million [+]
GDP From Manufacturing 365.40 360.80 391.10 84.50 USD Million [+]
GDP From Mining 18.90 18.00 18.90 1.00 USD Million [+]
GDP From Public Administration 449.00 464.40 515.20 80.30 USD Million [+]
GDP From Services 724.50 725.20 747.50 200.60 USD Million [+]
GDP From Transport 53.50 63.10 72.70 18.00 USD Million [+]
GDP From Utilities 30.70 40.50 52.60 10.00 USD Million [+]


Palestine GDP Annual Growth Rate

The Palestinian territories (West Bank and Gaza) have been occupied by Israel since the Six-Day war in 1967. As such, Palestinian economy is dependent on Israel as it controls the movement of goods and labour and retains customs revenues. As a result, production capacity and access to natural resources has been significantly reduced and services are by far the most important sector of the economy accounting for nearly 83 percent of GDP. Palestine remains heavily dependent on foreign aid to support the government’s budget and fund infrastructure development. This page provides the latest reported value for - Palestine GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Palestine GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 3.80 26.03 -21.59 2001 - 2019 percent Quarterly




Country Last Previous
China 6.00 Sep/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
South Korea 2.00 Jun/19
Spain 2.00 Jun/19
Netherlands 1.80 Jun/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
United Kingdom 1.30 Jun/19
Euro Area 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Argentina 0.60 Jun/19
Saudi Arabia 0.50 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Sep/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19


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