Palestinian Central Bureau of Statistics (PCBS)

The Preliminary Estimates of Quarterly National Accounts,

Fourth Quarter, 2023

Main Results[1]

Decline in the gross domestic product in Palestine by 29%, and collapse in the economic system in Gaza Strip, in light of the sharp contraction in the gross domestic product in Gaza Strip during the fourth quarter of 2023 by 81% compared to the corresponding quarter of 2022, as a result of the ongoing Israeli aggression against Palestine.

This was accompanied by a decline in the West Bank economy by 19%.

Primary estimates for GDP showed a decrease of Gross Domestic Product in Palestine by 29% during the 4^th  quarter of 2023 compared to the 4^th  quarter of 2022, All economic activities recorded a sharp decline in value-added, as Mining, Manufacturing, Electricity and Water activity declined by 33% in Palestine (27% West Bank, 92% Gaza Strip), Construction activity by 38% (27% West Bank, 96% Gaza Strip), agriculture, forestry and fishing activity by 39% (13% West Bank, 93% Gaza Strip), Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles activity by 27% (18% West Bank, 91% Gaza Strip). GDP for the 4^th  quarter of 2023 was USD 2,711 million for the West Bank and USD 129 million for the Gaza Strip.

 Gross Domestic Product Per Capita decreased by a third during the 4^th  quarter of 2023

GDP per Capita for Palestine was USD 554 during the 4^th quarter of 2023, which showed a decrease of 31% compared to the 4^th quarter of 2022. As for the West Bank, it showed a decrease of 21% compared to the 4^th quarter of 2022, while the Gaza Strip showed a decrease of 82% compared to the 4^th quarter of 2022.

GDP by quarter in Palestine at Constant Prices, 2020-2023