The Palestine economy contracted 0.5 percent year-on-year in the third quarter of 2018, after a 1.3 percent fall in the previous period. It was the second straight contraction in economy, as while private consumption went down (-0.8 percent from 1.2 percent in Q2). In addition, net exports contributed negatively to growth, as export rose by 7.7 percent (from 4.5 percent in Q2) while imports increased at a faster 7.9 (from 4.8 in Q2). On the other hand, fixed investment increased faster (5.1 percent from 3 percent) and government spending continued rebounded (8.5 percent from -8.1 percent in Q2). On a quarterly basis, the GDP expanded 4 percent, following a 0.8 percent contraction in the second 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.

GDP Annual Growth Rate in Palestine is expected to be 0.50 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 1.80 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
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%
2019-01-16 08:00 AM GDP Growth Rate YoY -0.5% -1.3% 1.80%
2019-03-31 07:55 AM GDP Growth Rate YoY -0.5% 0.5%
2019-06-30 06:55 AM GDP Growth Rate YoY 1.6%
2019-09-30 07:20 AM GDP Growth Rate YoY 2.1%


Palestine GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -0.50 -1.30 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 815.80 747.60 815.80 365.60 USD million [+]
GDP Constant Prices 3486.50 3351.30 3502.30 778.50 USD Million [+]
GDP From Agriculture 97.10 103.90 124.90 46.80 USD Million [+]
GDP From Construction 236.10 213.90 236.60 16.80 USD Million [+]
GDP From Manufacturing 391.10 366.50 391.10 84.50 USD Million [+]
GDP From Mining 18.00 17.90 18.00 1.00 USD Million [+]
GDP From Public Administration 440.90 419.60 515.20 80.30 USD Million [+]
GDP From Services 723.70 683.10 723.70 200.60 USD Million [+]
GDP From Transport 62.40 55.80 72.70 18.00 USD Million [+]
GDP From Utilities 39.80 35.00 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -1.30 26.03 -21.59 2001 - 2018 percent Quarterly




Country Last Previous
India 7.10 Sep/18
China 6.50 Sep/18
Indonesia 5.17 Sep/18
United States 3.00 Sep/18
Australia 2.80 Sep/18
Mexico 2.50 Sep/18
Saudi Arabia 2.50 Sep/18
Netherlands 2.40 Sep/18
Spain 2.40 Sep/18
Switzerland 2.40 Sep/18
Singapore 2.20 Dec/18
Canada 2.10 Sep/18
South Korea 2.00 Sep/18
Euro Area 1.60 Sep/18
Turkey 1.60 Sep/18
Russia 1.50 Sep/18
United Kingdom 1.50 Sep/18
France 1.40 Sep/18
Brazil 1.30 Sep/18
Germany 1.10 Sep/18
South Africa 1.10 Sep/18
Italy 0.70 Sep/18
Japan 0.00 Sep/18
Argentina -3.50 Sep/18


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