RAMALLAH, April 14, 2008, (WAFA)Palestinian Central Bureau of Statistics (PCBS) said on Monday that the preliminary estimates at constant prices for the fourth quarter 2007 showedincreases in the performance of the economy in Remaining West Bank and Gaza Strip.
In a press release, PCBS revealed that the GDP estimates decreased during the third quarter of 2007 by 0.6% compared with the second quarter 2007 based on the first revision for the data, the fourth quarter 2007 increase by 0.8% compared with the third quarter 2007, and showed an increase of 10.8% compared to the fourth quarter of the year 2006, wheareas showed a decrease 10.5% compared to the fourth quarter of the year 2005 at constant prices.
The preliminary estimates showed that the GDP for the year 2007 at constant prices increased by 0.7% compared with the previous year.
'The estimates refers also to increases in the main economic activities within the available short term indicators for each activity. There were increases in the Manufacturing, Transport, Storage and Communications, Financial Intermediation, Real estate, renting and business services, Community, social and personal services, Education, Health and social work, Public Administration and Defense activities,' according to PCBS.
In addition, the preliminary estimates for the Gross Domestic Product per capita for Remaining West Bank and Gaza Strip during the fourth quarter 2007 was 305.7 US$ which increased by 1.5% compared with the third quarter 2007.
Performance of Main Economic Activities
The performance of different activities during the fourth quarter of the year 2007 compared to both the third quarter of the year 2007 and the same quarters of the years 2005,2006 was as follows:
The gross value added for Agriculture activity decreased by 3.7% during the forth quarter of 2007 in relation to the third quarter of the year 2007; however, when compared to the same quarter of the year 2006, this activity recorded a decrease by 32.5%, and increase by 6.9% compared to the same quarter of the year 2005.
The gross value added for Mining, manufacturing, water and electricity activities in Remaining West Bank and Gaza Strip increased by 0.2% during the fourth quarter 2007 compared to the third quarter of the year 2007, while it decreased by 5.5% compared to the fourth quarter of the year 2006, and decrease by 2.1% compared to the same quarter of the year 2005.
The gross value added for Construction activity decreased by 14.7% during the fourth quarter of the year 2007 compared to the third quarter 2007, and decreased by 5.3% compared to the same quarter of the year 2006, and decreased by 25.1% compared to the same quarter of the year 2005.
The gross value added decreased for Wholesale and Retail Trade by 5.6% compared to the third quarter of the year 2007; however, when compared to the same quarter of the year 2006, this activity recorded an increase by 8.0%, and increase by 7.0% compared to the same quarter of the year 2005.
The gross value added for Transport, Storage and Communications increased during the fourth quarter of the year 2007 by 0.1% compared to the third quarter of 2007. and it increased by 10.2% compared to the fourth quarter of the year 2006, and increased by 10.1% compared to the same quarter of the year 2005.
The gross value added for Financial Intermediation activity increased during the fourth quarter 2007 compared to the third quarter of the year 2007 by 4.5%, and increased by 8.8% compared to the fourth quarter of the year 2006, while it decrease by 0.4% compared to the same quarter of the year 2005.
The gross value added for Real estate, renting and business services activity increased during the fourth quarter 2007 compared to the third quarter of the year 2007 by 1.2%, whereas decreased by 9.4% compared to the fourth quarter of the year 2006, and decrease by 7.8% compared to the same quarter of the year 2005.
The gross value added for Community, social and personal services activity increased during the fourth quarter 2007 compared to the third quarter of the year 2007 by 15.1%, and increased by 4.3% compared to the fourth quarter of the year 2006, and increase by 15.1% compared to the same quarter of the year 2005.
The gross value added for Hotels and restaurants decreased by 11.4% compared to the third quarter of the year 2007, while it increased of 50.0% compared to the parallel quarter of the year 2006, and increased by 8.9% compared to the same quarter of the year 2005.
The gross value added for Education increased during the fourth quarter of the year 2007 by 2.7% compared to the third quarter of the year 2007, and increased by 127.8% compared to the fourth quarter of the year 2006, while decreased by 3.8% compared to the same quarter of the year 2005.
The gross value added for Health and social work increased during the fourth quarter of the year 2007 by 1.9% compared to the third quarter of the year 2007, and increased of 86.3% compared to the fourth quarter of the year 2006, while decreased by 37.9% compared to the same quarter of the year 2005.
The gross value added for Public Administration and Defense increased by 1.4% during the fourth quarter of the year 2007 compared to the third quarter of the year 2007, and increased by 61.6% compared to the parallel quarter of the year 2006, while decreased by 31.8% compared to the same quarter of the year 2005.
PCBS pointed out that the percentage contribution for economic activity to the quarterly GDP were affected in short term (compared with third quarter 2007 and parallel quarter of the year 2006), Real estate, renting and business services activity decreased from (11.5%) in the fourth quarter of 2006 to (9.3%) in the third quarter of 2007, then it increased to (9.4%) in the fourth quarter of 2007. Financial Intermediation activity decreased from (4.9%) in the fourth quarter of 2006 to (4.6%) in the third quarter of 2007, then it increased to (4.8%) in the fourth quarter of 2007, Electricity and water supply activity decreased from (1.9%) in the fourth quarter of 2006 to (1.6%) in the third quarter of 2007, then it increased to (1.7%) in the fourth quarter of 2007, Community, social and personal services activity decreased from (1.2%) in the fourth quarter of 2006 to (1.0%) in the third quarter of 2007, then it increased to (1.1%) in the fourth quarter of 2007.
It added that manufacturing activity contribution decreased from (12.1%) in the fourth quarter of 2006 to (10.3%) in the third quarter of 2007, then this decreases continued to reach (10.2%) in the fourth quarter of 2007. Agriculture and fishing activity contribution decreased from (12.7%) in the fourth quarter of 2006 to (8.1%) in the third quarter of 2007, then this decreases continued to reach (7.7%) in the fourth quarter of 2007.
Wholesale and retail trade activity increased from (9.7%) in the fourth quarter of 2006 to (10.1%) in the third quarter of 2007, then it decreased to (9.5%) in the fourth quarter of 2007. Hotels and restaurants activity increased from (1.4%) in the fourth quarter of 2006 to (2.1%) in the third quarter of 2007, then it decreased to (1.8%) in the fourth quarter of 2007, PCBS said.
Education, activity contribution increased from (4.0%) in the fourth quarter of 2006 to (8.1%) in the third quarter of 2007, then this increases continued to reach (8.3%) in the fourth quarter of 2007.
Public administration and defense activity contribution increased from (10.2%) in the fourth quarter of 2006 to (14.8%) in the third and fourth quarter of 2007, Health and social work activity contribution increased from (2.1%) in the fourth quarter of 2006 to (3.5%) in the third and fourth quarter of 2007.
Health and social work activity contribution increased from (2.1%) in the fourth quarter of 2006 to (3.4%) in the third and fourth quarter of 2007.
PCBS concluded that transport, Storage and Communications activity recorded stability during the fourth quarter 2006 and third quarter of 2007 by (12.0%), then it decreased to (11.9%) in the fourth quarter of 2007. Construction activity recorded stability during the fourth quarter 2006 and third quarter of 2007 by (2.4%), then it decreased to (2.0%) in the fourth quarter of 2007.
