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Palestinian Economic Performance during 2015

2015-12-30

The preliminary estimates for 2015  by the Palestinian Central Bureau of Statistics PCBS compiled in accordance with data available for the first three quarters of the year, and indicators for the fourth quarter 2015 used to estimate the data for that quarter.  It should be noted that data will be revised after the completion of collection of data from relevant sources.

Rise in the Gross Domestic Product (GDP) and GDP per capita during 2015

Preliminary estimates indicated an increase in GDP in Palestine by 3.5% during 2015 compared with 2014; GDP per capita has increased by 0.5% during 2015 compared with 2014. The largest contributor to the increase in GDP in 2015 was the services and other items activity, which rose by 3.1% and the total number of employees increased by 6.1%.  The second contributor was the construction activity with a gross value added rising by 2.1% compared to 2014.  The total number of employees in the construction activity also increased by 9.7%.

Preliminary estimates of Palestinian labor market indicators

Preliminary estimates indicated an increase in the number of employed persons in the Palestinian labor market by 6.0% in 2015 compared to 2014. The increase was attributed to the high increase in the number of workers in the services and construction activities.  Preliminary estimates also showed that 11.1% of employed persons worked in Israel, compared to 10.7% in 2014. Unemployment rate dropped from 27.5% in 2014 to 26.6% in 2015, as a result of the increase in the number of workers in economic activities and Israel.

An increase in exports and imports of goods and services during 2015

Preliminary estimates Palestinian of foreign trade movements, represented in exports and imports, indicated that the value of exports increase by 8.4% compared to 2014 and the value of imports increased by 6.7% compared to 2014.

Prices

Preliminary estimates show that the average of overall consumer prices index in Palestine has increased by 1.5% during 2015 compared with 2014.