Palestinian Authority's Macroeconomic Statistics

Macroeconomic stability in the Palestinian Authority improved greatly in 2009, and this year is shaping up well also. All economic indicators improved for the West Bank, while Gaza had a steep decline as a result of the unrest that has been pervasive since 2007. At 2009's beginning, the Israelis started a war against Gaza's infrastructure which adversely affected all the area's business sectors. Here are some macroeconomic indicators for 2009, the last year for which complete data is available.

*In 2009, GDP in Palestine increased by 6.8%, according to preliminary reports. Compared with 2009, there was a 21.8% increase in construction value added.

*Agriculture declined by 3.1%, reflected in the reduced numbers of agricultural workers employed in 2009.

*Government revenue increased by 0.2% last year when compared with the numbers for 2008, according to Palestine's Ministry of Finance.

*Public spending increased by 9.7% compared to 2008.

*Palestine's unemployment rate decreased by 5.8% last year, but price levels increased.

*Records show that more building licenses were issued in the West Bank, and cement imports increased by almost 25%.

*Industrial activity increased by 5.2%, and industrial production increased by 10.8%.

*Service activity made up 23.9% of the country's GDP, and the percentage of workers employed in the service sector increased by 3.1%.

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