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Performance of the Palestinian Economy, 2012

2013-05-13

Gross Domestic Product (GDP) in Palestine witnessed remarkable growth of 5.9% during 2012. The GDP per capita increased by 2.7%. Services activity recorded highest growth rate in 2012 of 13.2%, followed by construction with 6.5%, and information and communication with 5.9%. Growth in the Gaza Strip totaled 6.6% compared with 5.6% in the West Bank.  The services sector contributed the highest percentage of Gross Domestic Product (GDP) in both the West Bank and the Gaza Strip.

The participation rate in the labor force increased to 43.6% in 2012 compared with 43.0% in 2011. This growth in participation is attributed to the significant increase in the size of the labor force due to workers entering the labor market. In 2012, the number of employees grew by 2.5% compared with 2011 to total 858 thousand employees compared to 837 thousand employees in 2011. The unemployment rate in Palestine increased to 23.0% in 2012 compared with 20.9% in 2011.

Although the nominal daily wage increased in Palestine in 2012, the real daily wage fell by 1.4% compared with 2011, demonstrating the low purchasing power, i.e. any increase in nominal pay was less than inflation in Palestine during that period. The productivity rate in Palestine increased by 1.9% in 2012 compared with 2011.

Most economic activities in Palestine witnessed a rise in the number of employees by different percentages, with disparities between the West Bank and the Gaza Strip. Transport, storage and communications recorded the highest rate of growth in the number of employees of 8.4% in 2012 compared with 2011, and services, building and construction also recorded increased numbers of employees in 2012.

The consumer price index in Palestine rose by 2.78% during 2012 to 136.40 compared with 132.71 in 2011 (base year 2004). The growth in the consumer price index during 2012 was mainly attributed to the increase of prices in all major groups.

Despite the slight rise in poverty rates in Palestine, 25.8% of individuals were in poverty in 2011 compared with 25.7% in 2010, according to real patterns of consumption. The poverty rate in Palestine was inconsistent and stood at 17.8% in the West Bank in 2011 compared with 38.8% in the Gaza Strip.

The current account deficit in Palestine increased during 2012 to USD 2,814.8 million, the highest since 2000. This deficit is attributed to the steady rise in the value of imports of goods and services to Palestine, while Palestinian exports remained static: this increased the trade balance deficit by 11.4% compared with 2011. Compensations of employees from abroad fell during 2012 by 16.5%: current transfers and remittances decreased by 16.6% to USD 1,649.6 million compared to USD 1,976.9 million in 2011.

The Palestinian budget deficit increased by 13.8% in 2012 compared to 2011. This was due to an increase in government expenses at a higher rate than the increase in government revenues; total revenues increased by 1.4% during 2012 to USD 2.1 billion but government expenses increased by 6.2% over the same period. External financial support to cover the deficit in the Palestinian budget decreased by 4.8%: total external support was USD 775.5 million during 2012 compared with USD 814.8 million in 2011.

 

 

 

 


 

 


 

2018-02-21
UCI records net income of $0.68 million at the end of 2017

2018-02-21
TIC proposes 10% cash dividends for the year 2017

2018-02-19
APC reports net income of JD1.20 million at the end of 2017

2018-02-19
PIBC reports net income of $3.91 million at the end of 2017

2018-02-19
PID realizes net loss of JD0.01 million at the end of 2017

2018-02-19
PRICO realizes net loss of JD13.49 million at the end of 2017

2018-02-19
RSR reports net income of JD0.48 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
NIC posts net income of $7.70 million at the end of 2017

2018-02-19
JCC posts net income of JD0.51 million at the end of 2017

2018-02-19
ABRAJ records net income of $2.25 million at the end of 2017

2018-02-18
WASSEL posts net income of 0.06 million at the end of 2017

2018-02-18
SANAD records net income of $10.05 million at the end of 2017

2018-02-18
BPC records net income of $10.28 million at the end of 2017

2018-02-18
PADICO posts net income of $5.68 million at the end of 2017

2018-02-18
WATANIYA realizes net losses of $6.64 million at the end of 2017

2018-02-18
NCI posts net income of $0.16 million at the end of 2017

2018-02-18
AHC realizes net losses of JD1.52 million at the end of 2017

2018-02-18
AIB posts net income of $6.40 million at the end of 2017

2018-02-18
JPH records net income of $6.18 million at the end of 2017

2018-02-18
AIG posts net income of $3.12 million at the end of 2017

2018-02-18
JREI posts net income of $0.01 million at the end of 2017

2018-02-18
MIC posts net income of $3.26 million at the end of 2017

2018-02-18
LADAEN records net losses of JD0.05 million at the end of 2017

2018-02-18
PIIC records net income of JD5.50 million at the end of 2017

2018-02-18
AZIZA posts net income of JD3.18 million at the end of 2017

2018-02-18
APC proposes 50% cash dividends for the year 2017

2018-02-18
PALTEL recommends 40% cash dividends for the year 2017

2018-02-18
GUI proposes 20% stocks dividends and 10% cash dividends for the year 2017

2018-02-18
NIC proposes 25% stocks dividends and 25% cash dividends for the year 2017

2018-02-18
ELECTROODE proposes 12% cash dividends for the year 2017

2018-02-18
NAPCO proposes 5% cash dividends for the year 2017

2018-02-18
BOP proposes 13.5% cash dividends for the year 2017

2018-02-18
TRUST proposes 50% stocks dividends and 20% cash dividends for the year 2017

2018-02-15
A momentum in the dividends proposals and varied financial performance for the blue-chips

2018-02-15
TNB posts net income of $9.20 million at the end of 2017

2018-02-15
AQARIYA posts net income of JD 0.39 million at the end of 2017

2018-02-15
PALTEL posts net income of JD70.53 million at the end of 2017

2018-02-15
PALAQAR records net income of JD3.77 million at the end of 2017

2018-02-15
GUI records net income of $3.77 million at the end of 2017

2018-02-15
PEC posts net income of $8.64 million at the end of 2017

2018-02-15
GMC posts net income of JD1.78 million at the end of 2017

2018-02-15
TIC records net income of $2.19 million at the end of 2017

2018-02-15
BJP posts net income of JD1.64 million at the end of 2017

2018-02-15
ISBK records net income of $14.53 million at the end of 2017

2018-02-15
PICO reports net income of $4.79 million at the end of 2017

2018-02-13
TRUST records net income of $5.43 million at the year 2017

2018-02-13
PSE reports net income 0.68 million at the year 2017

2018-02-13
BPC proposes 2.7% stocks dividends and 20% cash dividends for the year 2017

2018-02-13
ELECTRODE posts net income JD0.07 million at the year of 2017

2018-02-12
VOIC posts net income of JD6.83 million at the end of 2017

2018-02-11
APIC reports net income of $17.44 million at the end of 2017

2018-02-08
Inactivity state in the market with the approaching end of the disclosures’ period

2018-02-08
VOIC recommends 60% cash dividends for the year 2017

2018-02-07
QUDS posts net income of $11.18 million for the year 2017

2018-02-06
ARAB reports net income of JD0.05 million for the year 2017

2018-02-05
PCMA and JSC signed memorandum of understanding

2018-02-05
BOP proposes distributing 13.5% cash dividends for the year 2017

2018-02-05
Nasdaq and Palestine Exchange sign new market technology agreement

2018-02-05
BOP reports net income of $54.00 million at the end of 2017

2018-02-01
NAPCO records net income of JD0.46 million at the end of 2017

2018-02-01
Several transactions in the PEX and the companies have started their disclosures

 

 

 
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