Gaza Strip:
Economy

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Other pages in this profile of the Gaza Strip:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition High population density, limited land access, and strict internal and external security controls have kept economic conditions in the Gaza Strip - the smaller of the two areas under the Palestinian Authority (PA)- even more degraded than in the West Bank. The beginning of the second intifadah in September 2000 sparked an economic downturn, largely the result of Israeli closure policies; these policies, which were imposed to address security concerns in Israel, disrupted labor and trade access to and from the Gaza Strip. In 2001, and even more severely in 2003, Israeli military measures in PA areas resulted in the destruction of capital, the disruption of administrative structures, and widespread business closures. The Israeli withdrawal from the Gaza Strip in September 2005 offered some medium-term opportunities for economic growth, but continued Israeli-imposed crossings closures, which became more restrictive after Hamas violently took over the territory in June 2007, have resulted in widespread private sector layoffs and shortages of most goods.
GDP (purchasing power parity)	Definition - World rank and map $5.034 billion (includes West Bank) (2006 est.)
GDP (official exchange rate)	Definition $5.328 billion (includes West Bank) (2006 est.)
GDP - real growth rate	Definition - World rank and map -8% (includes West Bank) (2006 est.)
GDP - per capita	Definition - World rank and map $1,100 (includes West Bank) (2006 est.)
GDP - composition by sector	Definition agriculture: 8% industry: 13% services: 79% (includes West Bank) (2006 est.)
Labor force	Definition 267,000 (2006)
Labor force - by occupation	Definition agriculture: 12% industry: 18% services: 70% (2005)
Unemployment rate	Definition - World rank and map 34.8% (2006)
Population below poverty line	Definition 80% (2007 est.)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 3.6% (includes West Bank) (2006)
Budget	Definition revenues: $1.149 billion expenditures: $2.31 billion note: includes West Bank (2006)
Agriculture - products	Definition olives, citrus, vegetables; beef, dairy products
Industries	Definition generally small family businesses that produce textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis had established some small-scale modern industries in an industrial center, but operations ceased prior to Israel's evacuation of Gaza Strip settlements
Industrial production growth rate	Definition - World rank and map 2.4% (includes West Bank) (2005)
Electricity - production	Definition - World rank and map 140,000 kWh (2005)
Electricity - consumption	Definition - World rank and map 230,000 kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 0.2 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 90,000 kWh; note - from Israeli Electric Company (2005)
Exports	Definition - World rank and map $301 million f.o.b.; (includes West Bank) (2005)
Exports - commodities	Definition citrus, flowers, textiles
Exports - partners	Definition Israel, Egypt, West Bank (2006)
Imports	Definition - World rank and map $2.44 billion c.i.f.; (includes West Bank) (2005)
Imports - commodities	Definition food, consumer goods, construction materials
Imports - partners	Definition Israel, Egypt, West Bank (2006)
Debt - external	Definition - World rank and map $NA
Economic aid - recipient	Definition $1.4 billion; (includes West Bank) (2006 est.)
Currency (code)	Definition new Israeli shekel (ILS)
Exchange rates	Definition new Israeli shekels per US dollar - 4.14 (2007), 4.4565 (2006), 4.4877 (2005), 4.482 (2004), 4.5541 (2003)
Fiscal year	Definition calendar year

Gaza Strip: Economy

Gaza Strip:
Economy