The Palestine economy contracted 0.6 percent in the third quarter of 2019, after a 2.5 percent expansion in the previous period, a preliminary estimate showed. It was the first contraction in economy since the third quarter 2018. On a quarterly basis, the GDP expanded 1.0 percent, after a 2.0 percent drop in the second quarter of 2019. GDP Annual Growth Rate in Palestine averaged 3.79 percent from 2001 until 2019, reaching an all time high of 26.03 percent in the third quarter of 2003 and a record low of -21.59 percent in the fourth quarter of 2006.
GDP Annual Growth Rate in Palestine is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Palestine to stand at 2.50 in 12 months time. In the long-term, the Palestine GDP Annual Growth Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.