RAMALLAH, June 30, 2015 (WAFA) - Preliminary estimates at constant prices showed a decrease of 0.8% in the total Gross Domestic Product in Palestine during the first quarter of 2015 compared to the same period of 2014, the Palestinian Central Bureau of Statistics (PCBS) said on Tuesday.
The increase amounts to 1.8% in West Bank; reaching $1,428.1 million and the decrease in the Gaza Strip by 8.2%; reaching $434.9 million. The results showed a decrease of 0.8% compared to the fourth quarter of 2014, said PCBS.
GDP per capita for Palestine was $425.9 during the first quarter of 2015, a reported decrease of 3.6% compared to the first quarter of 2014. It was $554.2 in the West Bank, a decrease by 0.9%, while in the Gaza Strip it stood at $241.9 showing a decrease by 11.2% during the same period.
GDP is intended to be a measure of the value created by the productive activity of resident institutional units during a certain period in time. Estimate of GDP, like the output and the value added, can vary according to taxes and subsidies taken into consideration.
It is usually estimated at market prices, producers’ prices, or basic prices. There are three approaches to estimate the GDP: Output or Production approach, Expenditure approach, and Income approach.
T.R/M.H
