Palestine GDP Annual Growth Rate  2001-2017 | Data | Chart | Calendar

The Palestine economy grew 1.1 percent year-on-year in the second quarter of 2017, following a 0.7 percent expansion in the preceding quarter, preliminary estimates showed, mainly driven by a 1.6 percent growth in government spending (from 3.1 percent in Q1). On the other hand, private consumption declined 5.1 percent (from -2.5 percent in Q1) and investment fell 3.1 percent (from -1.3 percent in Q1). Meantime, net exports contributed positively to growth, as exports increased 15.6 percent while imports fell 2.9 percent. On a quarterly basis, the GDP advanced by 2.7 percent, compared to a 0.1 percent expansion in the previous quarter. GDP Annual Growth Rate in Palestine averaged 4.01 percent from 2001 until 2017, 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
2017-03-28 07:00 AM GDP Growth Rate YoY 1.3% 5.2% 6.9%
2017-06-22 07:00 AM GDP Growth Rate YoY 0.7% 1.3% 1.9%
2017-09-28 06:20 AM GDP Growth Rate YoY 1.1% 0.7% 1.6%
2017-12-28 07:00 AM GDP Growth Rate YoY 1.1% 0.9%


Palestine GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 1.10 0.70 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 434.90 436.70 503.80 365.60 USD million [+]
Gdp Constant Prices 2053.30 1999.20 2053.30 778.50 USD Million [+]
Gdp From Agriculture 54.80 52.10 124.90 46.80 USD Million [+]
Gdp From Construction 154.50 148.70 205.80 16.80 USD Million [+]
Gdp From Manufacturing 222.70 225.20 249.40 84.50 USD Million [+]
Gdp From Mining 7.90 6.20 13.70 1.00 USD Million [+]
Gdp From Public Administration 254.20 257.90 262.20 80.30 USD Million [+]
Gdp From Services 425.70 417.20 425.70 200.60 USD Million [+]
Gdp From Transport 47.70 47.90 56.80 18.00 USD Million [+]
Gdp From Utilities 28.70 32.50 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 (nearly 83 percent of GDP). Palestine remains heavily dependent on foreign aid to support the government’s budget and fund infrastructure development. Nonetheless, in recent months, Palestinian National Authority's efforts to ease tensions with Israel have resulted in growth returning to Palestine. Yet, the growth cannot be sustainable without addressing security problems and high unemployment rate among young people. 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 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.10 0.70 26.03 -21.59 2001 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
China 6.80 Sep/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.06 Sep/17
Canada 3.70 Jun/17
South Korea 3.60 Sep/17
Spain 3.10 Sep/17
Netherlands 3.00 Sep/17
Germany 2.80 Sep/17
Euro Area 2.50 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Australia 1.80 Jun/17
Italy 1.80 Sep/17
Russia 1.80 Sep/17
Japan 1.70 Sep/17
Mexico 1.60 Sep/17
United Kingdom 1.50 Sep/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17