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GDP in Palestine up by 5% in Q4, 2021, and by 7% in 2021 - PCBS

GDP in Palestine up by 5% in Q4, 2021, and by 7% in 2021 - PCBS

RAMALLAH, Thursday, March 31, 2022 (WAFA) - Gross Domestic Product (GDP) at constant prices increased by 5% in Palestine during the 4th quarter 2021 compared to the previous quarter, therefore the Gross Domestic Product (GDP) increased by 7% in the year 2021 compared to the previous year, today said the Palestinian Central Bureau of Statistics (PCBS) in a report on the preliminary estimates of quarterly national accounts.

The Q4 increase in GDP was mainly in agriculture, forestry and fishing, which increased by 19%, transportation and storage 12%, information and communication by 9%, construction 8%, wholesale and retail trade, repair of motor vehicles and motorcycles 7%, and public administration and defense 2%.

On the other hand, it showed an increase of 11% in GDP in Palestine during the 4th quarter of 2021 compared to the 4th quarter of 2020.

GDP for the 4th quarter 2021 at constant prices was $3,273 million for the West Bank and $668 million for Gaza Strip.

GDP per capita for Palestine at constant prices was $791 during the 4th quarter 2021. It showed an increase of 8% compared to the parallel quarter 2020.

As for the West Bank it was $1,148 at constant prices during the 4th quarter 2021, an increase by 9% compared to the parallel quarter in 2020, while for Gaza Strip was $314 during the 4th quarter 2021, an increase by 6% compared to the parallel quarter 2020.

M.K.

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