GENEVA, September 24, 2026 (WAFA) — The United Nations Conference on Trade and Development (UNCTAD) warned today that Gaza is facing the world's most severe economic crisis on record, with 92% of its economic establishments damaged or destroyed and more than 90% of the working-age population without employment.
The warning came as UNCTAD presented its latest report on developments in the economy of the Occupied Palestinian Territory at the Trade and Development Board in Geneva. The report documents the loss of decades of development gains and estimates Gaza's recovery and reconstruction needs at $71.5 billion.
UNCTAD Acting Secretary-General Pedro Manuel Moreno said Gaza's economic collapse represented the most severe economic crisis ever recorded, while pointing to the loss of development gains accumulated over decades.
According to the report, 92% of Gaza's economic establishments have been damaged or destroyed since October 2023. Gaza's GDP per capita stood at just $212 in 2025, equivalent to about $0.58 per person per day in GDP terms and only 17% of its 2022 level. Unemployment reached 78%, while more than 90% of the working-age population was without employment.
The report found that all productive sectors remained far below their 2022 output levels. Agricultural and industrial production each fell by 94%, while construction declined by 99%. Less than 1.5% of Gaza's cropland remained accessible and undamaged, further increasing dependence on humanitarian food assistance.
UNCTAD Coordinator for Assistance to the Palestinian People Mutasim Elagraa said that while two-thirds of Gaza's population had been living in poverty before the war, the entire population now faces multidimensional poverty.
The report also documented the loss of hundreds of thousands of jobs since October 2023, with the cumulative loss of labour income estimated at $2.8 billion.
The report estimates physical infrastructure damage in Gaza at $35.2 billion and economic and social losses at $22.7 billion, while total recovery and reconstruction needs are estimated at $71.5 billion. It warns that the figure could rise if further damage is recorded.
The report also addressed the deteriorating financial situation in the occupied West Bank, citing reduced access to land and natural resources associated with Israeli settlement expansion and rising displacement.
M.N
