Cityscape in West Bank and Gaza

West Bank and Gaza Economy

West Bank and Gaza's economy in numbers:

Nominal GDP of USD 19.2 billion in 2022.

GDP per capita of USD 3,572 compared to the global average of USD 10,589.

Average real GDP growth of 2.5% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

GDP by economic sector
GDP by type of expenditure

Economic growth:

The economy recorded average annual growth of 2.4% in the decade to 2022. To read more about GDP growth in West Bank and Gaza, go to our dedicated page.

Inflation:

Inflation averaged 0.2% in the decade to 2022. Go to our West Bank and Gaza inflation page for extra insight.

Monetary Policy:

West Bank and Gaza's monetary policy rate ended 2021 at 5.56%, down from 6.79% a decade earlier. See our West Bank and Gaza monetary policy page for additional details.
Projections out to 2033.

4 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 2 expert analysts.

Want to get insight on the economic outlook for West Bank and Gaza in the coming years? FocusEconomics collects projections out to 2033 on 4 economic indicators for West Bank and Gaza from a panel of 2 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the West Bank and Gaza economy. To download a sample report on the West Bank and Gaza's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

West Bank and Gaza Economic Data

2018 2019 2020 2021 2022
Population (million) 4.9 5.0 5.1 5.2 5.4
GDP (USD bn) 16.3 17.1 15.5 18.1 19.2
GDP per Capita (USD) 3,353 3,443 3,045 3,465 3,572
GDP (LCU bn) 16.3 17.1 15.5 18.1 19.2
Economic Growth (Nominal GDP, ann. var. %) 0.9 5.3 -9.3 16.6 5.8
Economic Growth (GDP, ann. var. %) 1.2 1.4 -11.3 7.0 4.1
Public Debt (% of GDP) 44.6 46.1 61.2 64.3 59.8
Inflation (CPI, ann. var. %, eop) 0.1 1.7 1.4 2.7 6.9
Inflation (CPI, ann. var. %, aop) 0.0 1.6 0.8 2.1 5.9
Policy Rate (%, eop) 5.87 5.93 5.52 5.56 -
Current Account Balance (USD bn) -2.1 -1.8 -1.9 -1.8 -2.0
Current Account Balance (% of GDP) -13.2 -10.4 -12.3 -9.8 -10.6
Merchandise Trade Balance (USD bn) -5.4 -5.5 -4.8 -6.0 -7.5
Merchandise Exports (USD bn) 1.8 1.7 1.7 2.3 2.6
Merchandise Imports (USD bn) 7.2 7.3 6.5 8.3 10.2
Merchandise Exports (ann. var. %) -4.3 -5.3 -1.4 33.4 14.0
Merchandise Imports (ann. var. %) 4.7 0.2 -10.5 27.9 22.2
Foreign Direct Investment (USD bn) 0.2 0.1 0.1 0.4 0.2
International Reserves (USD bn) 0.5 0.7 0.7 0.9 0.9
International Reserves (months of imports) 0.9 1.1 1.3 1.3 1.1
External Debt (USD bn) 1.4 1.8 2.0 2.0 2.0
External Debt (% of GDP) 8.7 10.6 13.2 10.9 10.4

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