Palestine ranked 146/197 by economy size with a GDP of $13.7B and 147/197 by GDP per capita at $2,592.
In 2025, Palestine made up 0.01% of the world's economy, compared to 0.01% in 1994.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1994 | $2,843,300,000 | $5,057,700,000 | - |
| 1995 | $3,282,800,000 | $5,417,700,000 | 15.5% |
| 1996 | $3,409,600,000 | $5,483,500,000 | 3.86% |
| 1997 | $3,759,800,000 | $6,287,800,000 | 10.3% |
| 1998 | $4,067,800,000 | $7,189,100,000 | 8.19% |
| 1999 | $4,271,200,000 | $7,784,400,000 | 5% |
| 2000 | $4,313,600,000 | $7,118,400,000 | 0.99% |
| 2001 | $4,003,700,000 | $6,455,600,000 | -7.18% |
| 2002 | $3,555,800,000 | $5,649,400,000 | -11.2% |
| 2003 | $3,968,000,000 | $6,441,200,000 | 11.6% |
| 2004 | $4,603,100,000 | $7,853,400,000 | 16% |
| 2005 | $5,125,700,000 | $8,740,100,000 | 11.4% |
| 2006 | $5,348,300,000 | $8,653,000,000 | 4.34% |
| 2007 | $5,815,700,000 | $8,980,800,000 | 8.74% |
| 2008 | $7,310,400,000 | $9,648,000,000 | 25.7% |
| 2009 | $8,085,700,000 | $10,477,100,000 | 10.6% |
| 2010 | $9,681,500,000 | $11,082,400,000 | 19.7% |
| 2011 | $11,186,100,000 | $12,146,400,000 | 15.5% |
| 2012 | $12,208,400,000 | $12,886,900,000 | 9.14% |
| 2013 | $13,515,500,000 | $13,492,400,000 | 10.7% |
| 2014 | $13,989,700,000 | $13,471,100,000 | 3.51% |
| 2015 | $13,972,400,000 | $13,972,400,000 | -0.12% |
| 2016 | $15,405,400,000 | $15,211,000,000 | 10.3% |
| 2017 | $16,128,000,000 | $15,426,900,000 | 4.69% |
| 2018 | $16,276,600,000 | $15,616,200,000 | 0.92% |
| 2019 | $17,133,500,000 | $15,829,000,000 | 5.26% |
| 2020 | $15,531,700,000 | $14,037,400,000 | -9.35% |
| 2021 | $18,109,000,000 | $15,021,700,000 | 16.6% |
| 2022 | $19,165,500,000 | $15,635,000,000 | 5.83% |
| 2023 | $17,847,900,000 | $14,922,700,000 | -6.87% |
| 2024 | $13,711,100,000 | $10,959,600,000 | -23.2% |
Economic Statistics of Palestine
Palestine
|
Rank | |
|---|---|---|
| Gross domestic product |
$13.7B
2024 |
146/197 |
| GDP growth |
-23.2%
2023-2024 |
195/196 |
| GDP per capita |
$2,592
2024 |
147/197 |
| GDP per capita, PPP |
$4,371
2024 |
163/197 |
| Average annual personal income after taxes |
$7,705
2025 |
90/197 |
| Listed domestic companies |
48
2024 |
70/103 |
| Market capitalization of domestic companies |
$4.08B
2024 |
80/100 |
| Income share by richest 10% |
27.1%
2023 |
91/169 |
| Income share by poorest 10% |
2.5%
2023 |
107/169 |
| Government expenditure, % of GDP |
20%
2025 |
159/195 |
| Consumer prices inflation |
53.7%
2023-2024 |
6/195 |
| Unemployment rate |
31.4%
2024 |
4/196 |
| Population |
5459557
|
123/197 |
Palestine's GDP per capita
Palestine has a GDP per capita of $2,592, ranking 147/197, a GDP per capita based on purchasing power parity (PPP) of $4,371, ranking 163/197, and a median annual after tax income of $7,705, ranking 90/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1994 | $1,202 | $2,201 |
| 1995 | $1,327 | $2,302 |
| 1996 | $1,317 | $2,269 |
| 1997 | $1,389 | $2,530 |
| 1998 | $1,465 | $2,852 |
| 1999 | $1,499 | $3,052 |
| 2000 | $1,476 | $2,783 |
| 2001 | $1,336 | $2,515 |
| 2002 | $1,156 | $2,179 |
| 2003 | $1,258 | $2,469 |
| 2004 | $1,422 | $3,014 |
| 2005 | $1,544 | $3,372 |
| 2006 | $1,570 | $3,354 |
| 2007 | $1,664 | $3,486 |
| 2008 | $2,035 | $3,713 |
| 2009 | $2,192 | $3,950 |
| 2010 | $2,557 | $4,121 |
| 2011 | $2,881 | $4,495 |
| 2012 | $3,067 | $5,215 |
| 2013 | $3,315 | $5,288 |
| 2014 | $3,352 | $5,382 |
| 2015 | $3,272 | $5,770 |
| 2016 | $3,528 | $6,062 |
| 2017 | $3,620 | $6,107 |
| 2018 | $3,562 | $6,216 |
| 2019 | $3,657 | $6,508 |
| 2020 | $3,234 | $5,956 |
| 2021 | $3,679 | $5,663 |
| 2022 | $3,800 | $6,163 |
| 2023 | $3,455 | $5,950 |
| 2024 | $2,592 | $4,371 |
Inflation rate by year
Over the past 20 years, Palestine has had an average annual inflation rate of 5.1%. In 2024, inflation was 53.7%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1997 | 7.09% |
| 1998 | 5.58% |
| 1999 | 5.54% |
| 2000 | 2.8% |
| 2001 | 1.22% |
| 2002 | 5.71% |
| 2003 | 4.4% |
| 2004 | 3% |
| 2005 | 4.11% |
| 2006 | 3.84% |
| 2007 | 1.86% |
| 2008 | 9.89% |
| 2009 | 2.75% |
| 2010 | 3.75% |
| 2011 | 2.88% |
| 2012 | 2.78% |
| 2013 | 1.72% |
| 2014 | 1.73% |
| 2015 | 1.43% |
| 2016 | -0.22% |
| 2017 | 0.21% |
| 2018 | -0.2% |
| 2019 | 1.58% |
| 2020 | -0.74% |
| 2021 | 1.24% |
| 2022 | 3.74% |
| 2023 | 5.87% |
| 2024 | 53.7% |
Balance of trade
|
Palestine
|
Rank | |
|---|---|---|
Current account balance
|
-$2.9B
2024 |
152/189 |
| Current account balance, % of GDP |
-21.1%
2024 |
181/189 |
| Goods imports |
$6.87B
2024 |
122/188 |
| Goods exports |
$2.37B
2024 |
136/188 |
| Service imports |
$1.39B
2024 |
135/188 |
| Service exports |
$514M
2024 |
142/188 |
| Imports of goods and services, % of GDP |
60.3%
2024 |
47/180 |
| Exports of goods and services, % of GDP |
21%
2024 |
146/193 |
Palestine's top 10 trading partners
Palestine's biggest trading partner accounting for 58.5%% of all exports and imports is Israel, with a trade balance between the two of -$3.16B — Palestine exports $1.28B worth of goods and services to Israel and imports $4.44B.
Below is the list of the top 10 trade partners of Palestine.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Israel
|
$5.71B | 58.5% | $1.28B | $4.44B | Textiles & consumer goods | Raw materials & minerals |
| 2 |
China
|
$702M | 7.19% | $45K | $702M | Chemicals & pharma | Machinery & equipment |
| 3 |
Turkey
|
$598M | 6.12% | $22.3M | $576M | Raw agricultural goods | Metals |
| 4 |
Jordan
|
$480M | 4.91% | $105M | $374M | Metals | Raw materials & minerals |
| 5 |
Germany
|
$216M | 2.21% | $4.55M | $211M | Raw agricultural goods | Machinery & equipment |
| 6 |
Switzerland
|
$197M | 2.02% | $586K | $196M | Processed food, beverages & tobacco | Processed food, beverages & tobacco |
| 7 |
Egypt
|
$165M | 1.69% | $39K | $165M | Textiles & consumer goods | Processed food, beverages & tobacco |
| 8 |
India
|
$146M | 1.49% | $1.37M | $144M | Raw agricultural goods | Raw agricultural goods |
| 9 |
Italy
|
$133M | 1.36% | $1.97M | $131M | Raw agricultural goods | Machinery & equipment |
| 10 |
United States
|
$116M | 1.19% | $20.8M | $95.1M | Processed food, beverages & tobacco | Machinery & equipment |
Palestine's top 10 exports
|
Palestine
|
Rank | |
|---|---|---|
| Transport & tourism services | $498M | 135/188 |
| Metals | $300M | 103/192 |
| Textiles & consumer goods | $288M | 99/193 |
| Manufacturing & construction services | $263M | 70/164 |
| Raw materials & minerals | $251M | 134/193 |
| Chemicals & pharma | $191M | 101/193 |
| Processed food, beverages & tobacco | $187M | 120/192 |
| Raw agricultural goods | $139M | 113/193 |
| IT & IP services | $120M | 105/183 |
| Machinery & equipment | $88.1M | 131/193 |
Palestine's top 10 imports
|
Palestine
|
Rank | |
|---|---|---|
| Raw materials & minerals | $2.14B | 116/193 |
| Transport & tourism services | $1.63B | 111/188 |
| Processed food, beverages & tobacco | $1.52B | 82/193 |
| Machinery & equipment | $1.29B | 135/193 |
| Chemicals & pharma | $894M | 113/193 |
| Animal & marine products | $584M | 81/193 |
| Metals | $547M | 117/193 |
| Textiles & consumer goods | $487M | 122/193 |
| Business & finance services | $473M | 114/188 |
| Raw agricultural goods | $473M | 109/193 |
Economic freedom indices
|
Palestine
|
Rank | |
|---|---|---|
| Economic freedom | 30 | 192/197 |
More economic indicators
|
Palestine
|
Rank | |
|---|---|---|
| Services, % of GDP |
58.3%
2022 |
87/191 |
| Industry, % of GDP |
17.4%
2022 |
148/194 |
| Agriculture, forestry, and fishing, % of GDP |
5.75%
2022 |
101/193 |
|
GNI, Atlas method
|
$16.3B
2024 |
137/194 |
| GNI per capita, PPP |
$5,310
2024 |
153/191 |
| Total reserves including gold |
$1.33B
2024 |
138/177 |
|
Net foreign direct investment
|
-$151M
2024 |
77/188 |
|
Net inflows of foreign direct investment
|
$162M
2024 |
141/193 |
|
Net outflows of foreign direct investment
|
$10.7M
2024 |
121/187 |
| Poverty at national poverty lines |
29.2%
2016 |
60/176 |
|
Gross capital formation, % of GDP
|
23.5%
2024 |
85/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Palestine topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.