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Middle East and North Africa

Palestinian Territories

Last Reviewed: 19 October 2007

Country information

ECONOMY

As a result of Israeli restrictions imposed both within the West Bank and Gaza Strip and on Palestinian external economic relations since the start of the Intifada (uprising) in September 2000, the economy has been fragmented. Significant damage has been done to infrastructure, and economic activity and incomes have contracted very sharply. Levels of poverty have increased dramatically, and much of the population is now dependent on food aid.

Basic Economic Facts (based on 2006 date)

Nominal GDP: US$4.39bn
Nominal GDP per capita: US$1,764
Exports: $0.5bn
Export (% growth from 2005): $-10.2bn
Import: $3.5bn
Trade: 91.4% of GDP
Unemployment: 23.6%

Major Industries: Small family businesses producing construction materials, textiles and metal goods
Major trading partners: Israel, Jordan

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