GAZA, April 27, 2025 (WAFA) – The Chambers of Commerce and Industry in the Gaza Strip declared today the total collapse of the economic system and a staggering 527% rise in prices, due to the Israeli blockade and ongoing restrictions on the entry of goods and humanitarian aid.
In a press conference held on Sunday, Ayed Abu Ramadan, head of the Gaza Governorate Chamber of Commerce, read a statement detailing the catastrophic consequences of the prolonged Israeli closure of crossings and the deliberate destruction of the Palestinian economy.
The statement described the humanitarian and economic situation in Gaza as "catastrophic," as Israel’s total closure of all border crossings enters its 59th consecutive day, with no signs of relief.
More than two million people have been deprived of basic humanitarian aid, resulting in acute shortages of food, medicine, and fuel. The statement pointed out to the unprecedented deterioration in health and living conditions across the Strip.
The closure has also halted the entry of private sector goods, paralyzing economic activity, suspending imports and exports, collapsing supply chains, and causing an unprecedented surge in the prices of essential goods.
The Chambers emphasized that what is happening in Gaza amounts to a deliberate policy of starvation and thirst, weaponized against civilians in violation of international law, including the Rome Statute of the International Criminal Court and the Geneva Conventions, which explicitly prohibit collective punishment and the denial of basic necessities to civilians.
According to data compiled by the Chambers of Commerce, the price index for essential goods has risen by 527% since the crossings were closed in October 2023. The blockade has also caused a total collapse of food security and the systems that support it, with farmers and fishermen prevented from working and goods left stranded outside the Strip.
The statement confirmed the total collapse of Gaza’s economic infrastructure, driven by the ban on raw materials, fuel, and production supplies. Agricultural lands have been rendered inaccessible, and fishing activities have been suspended, crippling all productive and commercial sectors. This has led to the closure of hundreds of factories, farms, and businesses, and the mass unemployment of tens of thousands of workers.
The Gaza Chambers of Commerce warned that this collapse threatens not only the present but also the long-term social and humanitarian fabric of the Gaza Strip.
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