Palestinian Central Bureau of Statistics (PCBS) issued on Monday a report on the main estimates for the Gross Domestic Product. In its statement, the PCBS said that, GDP grew by 1.8%, in the first quarter 2005, compared with the fourth quarter 2004.
This quarterly report is based on a number of short-term economic indicators compiled quarterly and covering various economic activities. The report said that the preliminary estimates for the year 2005 at constant prices based on the available short term indicators showed that the value of the GDP of the remaining West Bank (The West Bank except for those parts of Jerusalem, which were annexed after 1967 occupation by Israel) and Gaza Strip will reach US$ 4,254.6 million with an increase of 3.0%.
Therefore, the value of GDP per capita will be US$ 1,210.9 during 2005 with a substantial decline of %0,6 compared to the year 2004.
The GDP estimates increased substantially during the first quarter of 2005 by 1.8% compared with the fourth quarter of the previous year and shows a decrease of 0.7% compared to the first quarter of the year 2004 at constant prices, according to the report.