RAMALLAH, December 28, 2015 (WAFA) - Preliminary estimates at constant prices showed an increase of 9.6% in the total Gross Domestic Product in Palestine during the third quarter of 2015 compared to the same period of 2014, the Palestinian Central Bureau of Statistics (PCBS) said Monday.

The increase amounts to 4.0% in West Bank, and 33.3% in the Gaza Strip, said PCBS.

The results showed a decrease of 1.9% compared to the second quarter of 2015, it said.

GDP per capita for Palestine was $433.0 during the third quarter of 2015, a reported increase of 6.4% compared to the third quarter of 2014. It was $565.5 in the West Bank, an increase by 1.3%, and in the Gaza Strip is stood at $243.8 showing an increase by 29.0% 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.