The Palestine economy contracted 1.3 percent year-on-year in the second quarter of 2018, reversing from a 2 percent expansion in the previous period. It was the first contraction in economy since the first quarter 2015, as government spending declined (-8.1 percent from 7.7 percent in Q1). On the other hand, fixed investment increased faster (3 percent from 2.3 percent) while private consumption rebounded (1.2 percent from -4.2 percent in Q1). Meanwhile, net exports contributed positively to growth (4.9 percent from -4.6 percent in Q1). On a quarterly basis, the GDP contracted 0.8 percent, following a 2.8 percent fall in the first quarter. GDP Annual Growth Rate in Palestine averaged 3.94 percent from 2001 until 2018, 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.

Palestine GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-03-29 07:55 AM GDP Growth Rate YoY 5.4% 5% 5.40%
2018-06-27 06:55 AM GDP Growth Rate YoY 2% 5.4% 3.50%
2018-09-30 07:20 AM GDP Growth Rate YoY -1.3% 2% 1.30%
2018-12-31 07:00 AM GDP Growth Rate YoY -1.3% 0.5%


Palestine GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -1.30 2.00 26.03 -21.59 percent [+]
GDP 8.00 7.70 8.00 3.04 USD Billion [+]
GDP per capita 1997.30 1745.90 1997.30 879.52 USD [+]
Gross Fixed Capital Formation 747.60 748.40 794.90 365.60 USD million [+]
GDP Constant Prices 3351.30 3377.60 3502.30 778.50 USD Million [+]
GDP From Agriculture 103.90 102.10 124.90 46.80 USD Million [+]
GDP From Construction 213.90 217.80 236.60 16.80 USD Million [+]
GDP From Manufacturing 366.50 359.10 373.40 84.50 USD Million [+]
GDP From Mining 17.90 14.10 17.90 1.00 USD Million [+]
GDP From Public Administration 419.60 463.40 515.20 80.30 USD Million [+]
GDP From Services 683.10 693.40 701.80 200.60 USD Million [+]
GDP From Transport 55.80 61.10 72.70 18.00 USD Million [+]
GDP From Utilities 35.00 37.10 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-1.30 2.00 26.03 -21.59 2001 - 2018 percent Quarterly




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