Gaza Strip Economy 2015, CIA World Factbook

Posted By on September 9, 2015

Economy - overview: Israeli security controls imposed since the end of the second intifada have degraded economic conditions in the Gaza Strip, the smaller of the two areas comprising the Palestinian territories. Israeli-imposed border closures, which became more restrictive after HAMAS seized control of the territory in June 2007, have resulted in high unemployment, elevated poverty rates, and a sharp contraction of the private sector that had relied primarily on export markets. Gazans increasingly turned to tunnels that ran under the Egyptian border to bring in fuel, construction materials, and consumer goods. In July 2013, Egyptian authorities began a serious crackdown on the tunnels, causing shortages in Gaza. The population depends on government spending - by both the Palestinian Authority and HAMAS's de facto government - and humanitarian assistance. Changes to Israeli restrictions on imports in 2010 resulted in a rebound in some economic activity, but regular exports from Gaza still are not permitted. Standard-of-living measures remain below levels seen in the mid-1990s.

GDP (purchasing power parity): see entry for West Bank [see also: GDP country ranks ]

GDP - real growth rate: see entry for West Bank [see also: GDP - real growth rate country ranks ]

GDP - per capita: see entry for West Bank [see also: GDP - per capita country ranks ]

GDP - composition, by end use: household consumption: 99.5% government consumption: 29.5% investment in fixed capital: 18% investment in inventories: 0% exports of goods and services: 14.9% imports of goods and services: -62%

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Gaza Strip Economy 2015, CIA World Factbook

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