The Palestine economy expanded 3.8 percent year-on-year in the first quarter of 2019, accelerating from a 3.4 percent growth in the previous period. This was the fastest pace of expansion since the fourth quarter of 2017, as private consumption increased faster (11.8 percent vs 11.4 percent in Q4). On the other hand, fixed investment growth slowed sharply (0.4 percent vs 3.4 percent) while government spending continued to contract (-8.7 percent vs -2.9 percent). Net external contributed negatively to GDP growth, as imports jumped 10.9 percent (vs 15.6 percent in Q4) while exports rose at a slower 4.2 percent (vs 12.1 percent in Q4). On a quarterly basis, the GDP shrank 2.5 percent in the first quarter, following a 3.1 percent expansion in the previous period. GDP Annual Growth Rate in Palestine averaged 3.94 percent from 2001 until 2018, 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 2.10 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 2.20 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.

Palestine GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-30 07:20 AM GDP Growth Rate YoY Q2 -1.3% 2% 1.30%
2019-01-16 08:00 AM GDP Growth Rate YoY Q3 -0.5% -1.3% 1.80%
2019-04-01 06:00 AM GDP Growth Rate YoY Q4 3.4% -0.5% 0.5%
2019-07-02 03:00 AM GDP Growth Rate YoY Q1 3.8% 3.4% 1.6%
2019-09-30 07:00 AM GDP Growth Rate YoY Q2 3.8% 2.1%
2019-12-30 07:00 AM GDP Growth Rate YoY Q3 1.8%


Palestine GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 3.80 3.40 26.03 -21.59 percent [+]
GDP 14.50 13.43 14.50 0.18 USD Billion [+]
GDP per capita 2923.40 2923.40 2966.80 879.52 USD [+]
Gross Fixed Capital Formation 751.70 821.90 821.90 365.60 USD million [+]
GDP Constant Prices 3504.60 3594.90 3594.90 778.50 USD Million [+]
GDP From Agriculture 101.60 115.10 124.90 46.80 USD Million [+]
GDP From Construction 214.40 235.40 236.60 16.80 USD Million [+]
GDP From Manufacturing 360.80 375.50 391.10 84.50 USD Million [+]
GDP From Mining 18.00 18.90 18.90 1.00 USD Million [+]
GDP From Public Administration 464.40 449.20 515.20 80.30 USD Million [+]
GDP From Services 725.20 747.50 747.50 200.60 USD Million [+]
GDP From Transport 63.10 64.50 72.70 18.00 USD Million [+]
GDP From Utilities 40.50 37.50 52.60 10.00 USD Million [+]


Palestine GDP Annual Growth Rate

The Palestinian territories (West Bank and Gaza) have been occupied by Israel since the Six-Day war in 1967. As such, Palestinian economy is dependent on Israel as it controls the movement of goods and labour and retains customs revenues. As a result, production capacity and access to natural resources has been significantly reduced and services are by far the most important sector of the economy accounting for nearly 83 percent of GDP. Palestine remains heavily dependent on foreign aid to support the government’s budget and fund infrastructure development. This page provides the latest reported value for - Palestine GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Palestine GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.40 26.03 -21.59 2001 - 2019 percent Quarterly




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Saudi Arabia 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
Singapore 0.10 Jun/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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