RAMALLAH, June 19, 2012 (WAFA) – Gross Domestic Product (GDP) in the Palestinian Territory increased by 5.6% to reach $1,116 million for the West Bank and $464 million for the Gaza Strip during the first quarter of 2012 compared to the first quarter of 2011, a press report by the Palestinian Central Bureau of Statistics (PCBS) said on Tuesday.

However, GDP decreased by 3.1% when compared to fourth quarter 2011.

In the West Bank, GDP increased by 5.4% compared to first quarter of 2011, while it increased by 6% in Gaza.

GDP per capita for the Palestinian Territory was $395 during first quarter 2012, an increase by 2.4% when compared to first quarter 2011, said PCBS.

GDP per capita was $469 in the West Bank, an increase by 2.6% compared to first quarter 2011, while in the Gaza Strip it was $286, an increase by 2.4% during the same period.

R.Q./M.S.