RAMALLAH, September 15, 2009 (WAFA) - Palestinian Central Bureau of Statistics published its report Preliminary Estimates of Quarterly National Accounts (Second Quarter 2009) This quarterly report is based on a number of short-term economic indicators compiled.
The Gross Domestic Product at constant price continue recovery is quarterly and covering various economic activities. Therefore we compare the main macroeconomic indicators in order to provide an informative tool for monitoring the economy in the short term. In this release we present a comparison with the previous quarter (First Quarter 2009 ) and the parallel quarter of the previous year 2008 (Second Quarter 2008).
Increase in GDP during the Second quarter 2009 compared with the First Quarter 2009, the preliminary estimates at constant prices for the Second quarter of 2009 shows an increase in the performance of the economy in the West Bank and Gaza Strip by 6.4% compared with the First Quarter 2009 , and showed an increase of 5.4% compared to the Second quarter of the year 2008 at constant prices (the base year is 2004).
Whereas the GDP estimates increase during the First Quarter 2009 by 2.8% compared to the Fourth quarter of the year 2008 based on the first revision of the data, whereas the fourth Quarter 2008 witnessed closing the borders totally in addition to the outbreak of the war on Gaza Strip which affected the GDP to
decline during the fourth quarter.
The estimates also refer that the increase in the GDP caused by an increase in the main economic activities that have considerable percentage contribution to GDP.
Also, its worth mentioning that the unemployment rate for the Second quarter of the year 2009 reached to 22.2% recorded a decrease by 12.6% compared with the First quarter of the year 2009.
The unemployment rate recorded a decrease by 14.0% during the Second quarter
2009 compared with the similar quarter of the previous year 2008. The unemployment rate for the year 2008 was 26.0% and for the year 2007 was 21.5% compared with 23.6% in 2006.
There was an increase in the Public administration and defense, Transport, Storage and Communications, Construction, in addition to the customs duties (Custom duties is calculated in Accrual Bases based on the recommendations of the System of National Accounts issued by the UN). Agriculture and fishing, taking into consideration the seasonality effects on to the Construction activities.
In addition, the preliminary estimates for the Gross Domestic Product per capita for the West Bank and Gaza Strip during the Second quarter 2009 was 339.4 US$ with an increase by 5.6% compared to the First quarter of 2009, while it showed an increase by 2.4% compared with the same quarter 2008, based on the results of the Population, Housing, and Establishment Census 2007 which indicates that the number of population in the West Bank and Gaza Strip during the Second quarter 2009 was (3,689,026).
The performance of different activities during the Second quarter 2009 compared to both the First Quarter 2009 and the same quarter of 2008 was The gross value added for Agriculture activity increased by 18.6% during the second quarter of 2009 compared with the previous quarter 2009, and a decrease by 17.2% compared with the parallel quarter 2008.
The gross value added for Mining, manufacturing, water and electricity activities in the West Bank and Gaza Strip increased during the Second quarter 2009 compared to the first quarter of the year 2009 by 2.7%, and it increased by 7.9% compared to the Second quarter 2008.
The gross value added for Construction activity increased by 27.8% during the Second quarter 2009 compared to the First Quarter 2009, and it increased by 25.8% compared to the second quarter 2008.
The gross value added for Wholesale and Retail Trade increased by 0.9% compared to the First Quarter 2009 ; however, when compared to the same quarter 2008, this activity recorded an increase by 0.1%. The gross value added for Transportation increased during the Second quarter 2009 by 2.1% compared to the First Quarter 2009, and it increased by 23.0% compared to the second quarter 2008.
The gross value added for Financial Intermediation activity recorded an increase during the Second quarter 2009 compared to the first quarter of the year 2009 by 4.0%, and it increased by 12.8% compared to the second quarter 2008.
The gross value added for Real estate, renting and business services activity increased during the Second quarter 2009 compared to the First Quarter 2009 by 6.2%, and it increased by 9.7% compared to the second quarter 2008.
The gross value added for Community, social and personal services activity recorded an increase during the Second quarter 2009 compared to the previous quarter by 14.8%, and it showed an increase by 20.0% compared to the second quarter 2008.
The gross value added for Hotels increased by 55.7% compared to the First Quarter 2009 , and showed a decrease by 6.8% compared to the parallel quarter 2008.
The gross value added for Education increased during the Second quarter 2009 by 1.9% compared to the First Quarter 2009 , and it showed an increase by 2.5% compared to the second quarter 2008.
The gross value added for Health and Social Work increased during the Second quarter 2009 by 6.5% compared to the First Quarter 2009 , and it showed an increase by 9.1% compared to the second quarter 2008.
The gross value added for Public Administration and Defense increased by 5.0% during the Second quarter 2009 compared to the First Quarter 2009 , and it increased by 7.7% compared to the parallel quarter 2008.
The percentage contribution for the economic activities to the quarterly GDP was affected in short term, since the percentage contribution increase for some of the economic activities during the Second quarter 2009 compared with the First Quarter 2009 .
Increase in Construction activity from 5.3% in the First Quarter 2009 to 6.4% in the second quarter 2009.and Increase in Agriculture and fishing activity from 3.6% in the First Quarter 2009 to 4.0% in the second quarter 2009.
Increase in Hotels and restaurants services activities from 1.4% in the First Quarter 2009 to 2.1% in the second quarter 2009. and Increase in Community, social and personal services activities from 1.8% in the First Quarter 2009 to 1.9% in the second quarter 2009.
Whereas the percentage contribution decrease for economic activities during the Second quarter 2009 compared with the First Quarter 2009. Decrease in Public administration and defense activity from 14.1% in the First Quarter 2009 to 13.9% in the second quarter 2009.
Decrease in Transport, Storage and Communications activity from 9.4% in the First Quarter 2009 to 9.0% in the second quarter 2009.also Decrease in Wholesale and retail trade activity from 10.5% in the First Quarter 2009 to 10.0% in the second quarter 2009.
Decrease in Education activity from 10.1% in the First Quarter 2009 to 9.6% in the second quarter 2009. and Decrease in Manufacturing activity from 10.0% in the First Quarter 2009 to 9.8% in the second quarter 2009.and finally Decrease in Financial intermediation activity from 5.7% in the First Quarter 2009 to 5.6% in the second quarter 2009.
