A study prepared by Palestinian economist, Jamil Al-Abadseh, estimates the losses suffered by the Palestinian economy within the first three years of the Aqsa intifada (2001-2004) to US$14 billion.
"Continued Israeli closure of the West Bank and Gaza Strip, the longest since 1967, and the harsh restrictions on the Palestinian trade movement with the outside world caused the paralysis of most PA economic sectors and hit them badly", he wrote.
"The Palestinian economy reached the brink of collapse, while the unemployment and poverty rates rose to unprecedented records of 60% that affected adversely the economic, social, cultural, educational, psychological, and health conditions of the Palestinian community", he added.
Palestinian and international statistics revealed earlier this year that public properties worth more than US$6.33 billion were destroyed by Israeli attacks during the Intifada. In agriculture alone, economic losses have reached more than US$1 billion.
