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2023-12-28
Sahem Weekly Trading Report (24-28)-12-2023
Palestine Stock Exchange PEX is approaching to conclude the current exceptional year on the economic and political level with an increase of 1.86% than the previous week, to close at 587.19 points level after trading in a relatively wide rage in this week with four trading sessions. While executing a transaction of 0.50 million shares on the stock of Birzeit Pharmaceuticals BPC raised the weekly trading value to the medium level. Regarding the blue-chips, they varied in their prices’ direction without any momentum in trading. On the other hand, the anticipation increases for the year 2024, in hope for stopping the aggression on Gaza Strip, and for expecting the annual financial results of the listed companies.
However according to the Palestinian Central Bureau of Statistics, preliminary estimates indicate that the production of economic sectors in the West Bank through two month of Israeli occupation aggression lost about 40% of its production compared to the total of usual two month production percentage with an estimated loss of about $1.1 billion through two month. Whereas Gaza Strip lost 86% of its usual monthly production during the month-long Israeli aggression on Gaza since October, that is equivalent to $407 million, which will, in return, negatively affect Palestine's general revenues. On the other side, about half of the private sector establishments stopped their production or declined in Palestine as a result of an almost total suspension in production of about 56 thousand establishments in Gaza Strip, where internal trade constitutes more than half of the establishments in Gaza Strip. On another hand, the majority of employed persons in Gaza Strip has become unemployed, estimated at more than 153 thousand employees, except for employees in the health and humanitarian relief sectors.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, exports decreased in October, 2023 by 27% compared to September, 2023. It also decreased by 33% compared to October, 2022 and reached $92.2 million. Also, imports decreased in October, 2023 by 14% compared to September, 2023. It also decreased by 15% compared to October, 2022 and reached $581.6 million. While the trade balance which represents the difference between exports and imports showed a decrease in trade deficit by 11% in October, 2023 compared to September, 2023. It also decreased by 11% compared to October, 2022 and reached $489.4 million.
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