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West Bank

West Bank Economy Stats

Overview:

The West Bank - the larger of the two areas comprising the Palestinian territories - experienced a high single-digit economic growth rate in 2010 as a result of inflows of donor aid, the Palestinian Authority's (PA) implementation of economic and security reforms, and the easing of some movement and access restrictions by the Israeli Government. Nevertheless, overall standard-of-living measures remain near levels seen prior to the start of the second intifada in 2000. The almost decade-long downturn largely has been a result of Israeli closure policies - a steady increase in movement and access restrictions across the West Bank in response to Israeli security concerns which have disrupted labor and trade flows, industrial capacity, and basic commerce, both external and internal. Since 2008, the PA under President Mahmoud ABBAS and Prime Minister Salam FAYYAD has implemented a largely successful campaign of institutional reforms that has contributed to increased security and economic performance, supported by more than $3 billion in direct foreign donor assistance to the PA's budget since 2007. An easing of some Israeli restrictions on West Bank movement and access since 2008 also has contributed to an uptick in retail activity in larger cities. The biggest impediments to economic improvements in the West Bank remain Palestinians' lack of access to land and resources in Israeli-controlled areas, import and export restrictions, and a high-cost capital structure. Absent robust private sector growth, the PA will continue to rely heavily on donor aid for its budgetary needs.

Definitions

  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget surplus > + or deficit > -: This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits.
  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Exports per capita: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. Figures expressed per capita for the same year.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP > Composition by sector > Industry: The gross domestic product (GDP) or value of all final goods produced by the industrial sector within a nation in a given year. GDP dollar estimates in the Factbook are derived from purchasing power parity (PPP) calculations. See the CIA World Factbook for more information.
  • GDP > Composition, by sector of origin > Services: This entry is derived from Economy > GDP > Composition, by sector of origin, which shows where production takes place in an economy. The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP if the data are complete. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other private economic activities that do not produce material goods.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • Human Development Index: The human development index values in this table were calculated using a consistent methodology and consistent data series. They are not strictly comparable with those in earlier Human Development Reports.
  • Imports per capita: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. Figures expressed per capita for the same year.
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Population below poverty line: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations.
  • Population below poverty line > Per capita: National estimates of the percentage of the population lying below the poverty line are based on surveys of sub-groups, with the results weighted by the number of people in each group. Definitions of poverty vary considerably among nations. For example, rich nations generally employ more generous standards of poverty than poor nations. Per capita figures expressed per 1 million population.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
STAT AMOUNT DATE RANK HISTORY
Budget > Revenues $2.10 billion 2013 138th out of 223
Budget surplus > + or deficit > - -16.6% of GDP 2011 13th out of 13
Exports $846.10 million 2011 158th out of 202
Exports per capita $259.33 2010 155th out of 198
Fiscal year calendar year 2013
GDP > Composition by sector > Industry 12.5% 2012 197th out of 217
GDP > Composition, by sector of origin > Services 77.9% 2013 1st out of 3
GDP > Per capita > PPP $2,900.00 2008 144th out of 201
GDP > Purchasing power parity $8.02 billion 2011 151st out of 198
Human Development Index 0.729 2006 101st out of 177
Imports per capita $1,681.49 2010 106th out of 200
Inflation rate > Consumer prices 2.8% 2012 125th out of 199
Population below poverty line 18.3% 2010 29th out of 48
Population below poverty line > Per capita 18.14% per 1 million people 2004 6th out of 45
Unemployment rate 23% 2012 9th out of 112

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; CIA World Factbooks 2010, 2011, 2012, 2013; CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbook 2010, 2011, 2012, 2013; Human Development Report 2006, United Nations Development Programme; CIA World Factbooks 18 December 2003 to 28 March 2011

Citation

"West Bank Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/West-Bank/Economy

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West Bank Economy Profiles (Subcategories)

Budget 5 Labor force 3
Electricity 5 Natural gas 4
Entrepreneurship 10 Oil 7
GDP 16 Trade 52