RAMALLAH, Sunday, December 30, 2018 (WAFA) – The gross domestic product increased by 2.3% in the West Bank and decreased by 7.9% in Gaza Strip  during the first three quarters of the year 2018 compared to the same quarters of the year 2017, according to the Palestinian Central Bureau of Statistics (PCBS).

PCBS said a sharp decrease in GDP at constant prices in the Gaza Strip during the first three quarters of the year 2018 led to slowing down in the growth of the Palestinian economy compared to the parallel quarters of the year 2017.

GDP for the third quarter 2018

Preliminary estimates at constant prices showed a decrease of 0.5% in GDP in Palestine during the 3rd quarter 2018 compared to the 3rd quarter 2017, (increase by 1.2% in the West Bank and decrease by 6.5% in Gaza Strip compared to the 3rd quarter 2017). 

GDP also showed an increase of 4% in Palestine compared to the 2nd quarter 2018 at constant prices (base year: 2015). GDP for the 3rd quarter 2018 at constant prices was $2,794 million for the West Bank and $693 million for the Gaza Strip.

GDP Per Capita sharply decreased in Gaza Strip

GDP per Capita for Palestine at constant prices was  $761 during the 3rd quarter 2018, it showed a decrease of 3% compared to the 3rd quarter 2017.

As for the West Bank, GDP per Capita was $1,567 at constant prices during the 3rd quarter 2018, and showed a decrease by 1% during the 3rd quarter 2018 compared to the 3rd quarter 2017.

In the Gaza Strip, GDP per Capita reached $357 during the 3rd quarter 2018, and showed a decrease by 9% during the 3rd quarter 2018 compared to the 3rd quarter 2017.

M.N