The Palestine GDP contracted 1.8 percent in the fourth quarter of 2019, following a 0.6 percent decline in the previous period, a preliminary estimate showed. Household consumption (-0.6 percent vs 0.5 percent in Q3); government spending (-7 percent vs 5.7 percent) and fixed investment (-6.5 percent vs -5.1 percent) posted decreases. On the other hand, exports grew 0.9 percent (vs 0.2 percent in Q3) while imports tumbled 8 percent (vs -0.2 percent in Q3). Considering the full year of 2019, the economy advanced 0.9 percent over a year ago.
GDP Annual Growth Rate in Palestine averaged 3.72 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.
GDP Annual Growth Rate in Palestine is expected to be -1.50 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 2.20 in 12 months time. In the long-term, the Palestine GDP Annual Growth Rate is projected to trend around 2.20 percent in 2021 and 2.00 percent in 2022, according to our econometric models.