GDP increases in Palestine by 5.9 per cent
Gross domestic product (GDP) at constant prices for the 2012 increased by 5.9% in the Palestinian Territory compared to 2011, according to the preliminary estimates of the Quarterly National Accounts published Sunday by the Palestinian Central Bureau of Statistics (PCBS).
The results showed an increase of 5.3% in GDP during the 4th quarter 2012 compared to the 4th quarter 2011, and it showed an increase of 1.5% at constant prices compared to the 3rd quarter 2012.
GDP at constant prices for the 4th quarter of 2012 was US$1,303 million for the West Bank and $430 million for the Gaza Strip, said PCBS.
The estimates showed that GDP increased by 5.9% in the fourth quarter of 2012 in the West Bank compared to the fourth quarter of 2011, while GDP in the Gaza Strip increased by 3.5% during the same period.
GDP per capita for the Palestinian Territory at constant prices was US$1,679 in the year of 2012, registering an increase of 2.7% compared to the year of 2011.
GDP per capita for in the West Bank at constant prices was US$537 during the fourth quarter of 2012, registering an increase of 3.1% compared to the fourth quarter of 2011.
In the Gaza Strip, GDP per capita was US$258 during the fourth quarter of 2012, showing a decrease by 0.1% compared to the parallel quarter of 2011.
- Frozen: Arab Spring economies barely trading with one another
- China-Pakistan economic corridor: a game-changer for the Middle East?
- Suspended tax transfers pushed Palestinian economy to the brink
- Egypt passed the economic conference with flying colours, but what's next?
- Why the GCC really needs a VAT tax