Increase in Gross Domestic Product (GDP) by 7% in Palestine, says PCBS

RAMALLAH/PNN/

Gross Domestic Product (GDP) at constant prices increased by 7% in Palestine during the 3rd quarter of 2021 compared to the parallel quarter of 2020, said a report by the Palestinian Central Bureau of Statistics (PCBS).

The report said that primary estimates for GDP at constant prices showed an increase of 7% in GDP in Palestine during the 3rd quarter of 2021 compared to the 3rd quarter of 2020 which excludes the seasonal effect, noting that the base year is 2015. GDP for the 3rd quarter of 2021 at constant prices was USD 3,111 million for the West Bank and USD 628 million for Gaza Strip.

On the other hand, it showed a slight increase of 0.1% in Palestine during the 3rd quarter 2021 compared to the 2nd quarter 2021 at constant prices, mainly in (information and communication, mining, manufacturing, electricity, and water by 8%), transportation and storage 7%, services 6%, construction 4%, (financial and insurance activities, public administration and defense 3%), wholesale and retail trade, repair of motor vehicles and motorcycles 1%.)

GDP per Capita for Palestine at constant prices was USD 756 during the 3rd quarter of 2021, it showed an increase of 4% compared to the parallel quarter 2020.

As for the West Bank, it was USD 1,097 at constant prices during the 3rd quarter 2021, it showed an increase by 4% during the 3rd quarter 2021 compared to the parallel quarter 2020, while for Gaza Strip it was USD 297 during the 3rd quarter 2021, and it showed an increase by 1% during the 3rd quarter 2021 compared to the parallel quarter 2020.

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