RAMALLAH, Thursday, September 30, 2021 (WAFA) –  The Palestinian Central Bureau of Statistics (PCBS) has release a statement detailing how Gross Domestic Product (GDP) at constant prices increased by 4% in Palestine during the 2nd quarter 2021 compared to the 1st quarter 2021.

Primary estimates for GDP at constant prices showed an increase of 4% in Palestine during the 2nd quarter 2021 compared to the 1st quarter 2021 at constant prices, mainly in transportation and storage by 10%, wholesale and retail trade, repair of motor vehicles and motorcycles by 5%, services, agriculture, forestry and fishing by 2%, in addition to financial and insurance activities, public administration and defense by 1%.

On the other hand, it showed an increase of 19% in GDP in Palestine during the 2nd quarter 2021 compared to the 2nd quarter 2020 which excludes the seasonal effect, meanwhile the base year is 2015. GDP for the 2nd quarter 2021 at constant prices was USD 3,103 million for the West Bank and USD 631 million for Gaza Strip.

GDP per Capita for Palestine at constant prices was USD 759 during the 2nd quarter 2021, it showed an increase of 3% compared to the 1st quarter 2021. As for the West Bank, it was USD 1,100 at constant prices during the 2nd quarter 2021, showing an increase by 4% during the 2nd quarter 2021 compared to the 1st quarter 2021, while for Gaza Strip it was USD 301 during the 2nd quarter 2021, showing a decrease by 1% during the 2nd quarter 2021 compared to the 1st quarter 2021.

K.T.