Skip to content

Palestine economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Palestine ranked 146/197 by economy size with a GDP of $13.7B and 147/197 by GDP per capita at $2,592.

In 2024, Palestine made up 0.01% of the world's economy, compared to 0.01% in 1994.

Palestine GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $13,711,100,000 -26.6%
2023 $17,847,900,000 -4.56%
2022 $19,165,500,000 4.08%
2021 $18,109,000,000 7.01%
2020 $15,531,700,000 -11.3%
2019 $17,133,500,000 1.36%
2018 $16,276,600,000 1.23%
2017 $16,128,000,000 1.42%
2016 $15,405,400,000 8.86%
2015 $13,972,400,000 3.72%
2014 $13,989,700,000 -0.16%
2013 $13,515,500,000 4.7%
2012 $12,208,400,000 6.1%
2011 $11,186,100,000 9.6%
2010 $9,681,500,000 5.78%
2009 $8,085,700,000 8.59%
2008 $7,310,400,000 7.43%
2007 $5,815,700,000 3.79%
2006 $5,348,300,000 -1%
2005 $5,125,700,000 11.3%
2004 $4,603,100,000 21.9%
2003 $3,968,000,000 14%
2002 $3,555,800,000 -12.5%
2001 $4,003,700,000 -9.31%
2000 $4,313,600,000 -8.56%
1999 $4,271,200,000 8.28%
1998 $4,067,800,000 14.3%
1997 $3,759,800,000 14.7%
1996 $3,409,600,000 1.21%
1995 $3,282,800,000 7.12%
1994 $2,843,300,000 -

Data sources: World Bank | Economy & Growth (1994–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine | CC BY

Palestine GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $2,592 $4,371
2023 $3,455 $5,950
2022 $3,800 $6,163
2021 $3,679 $5,663
2020 $3,234 $5,956
2019 $3,657 $6,508
2018 $3,562 $6,216
2017 $3,620 $6,107
2016 $3,528 $6,062
2015 $3,272 $5,770
2014 $3,352 $5,382
2013 $3,315 $5,288
2012 $3,067 $5,215
2011 $2,881 $4,495
2010 $2,557 $4,121
2009 $2,192 $3,950
2008 $2,035 $3,713
2007 $1,664 $3,486
2006 $1,570 $3,354
2005 $1,544 $3,372
2004 $1,422 $3,014
2003 $1,258 $2,469
2002 $1,156 $2,179
2001 $1,336 $2,515
2000 $1,476 $2,783
1999 $1,499 $3,052
1998 $1,465 $2,852
1997 $1,389 $2,530
1996 $1,317 $2,269
1995 $1,327 $2,302
1994 $1,202 $2,201

Data sources: World Bank | Economy & Growth (1994–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine | CC BY

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 164/197, and a median annual after tax income of $6,862, ranking 95/197.

Palestine GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 141 137 150
2023 129 134 148
2022 121 126 143
2021 121 130 145
2020 121 130 137
2019 119 126 131
2018 124 127 132
2017 120 126 135
2016 119 123 132
2015 125 128 132
2014 127 129 135
2013 129 131 133
2012 132 130 133
2011 135 133 135
2010 136 132 136
2009 141 130 136
2008 139 133 140
2007 140 134 141
2006 139 130 140
2005 137 126 137
2004 136 119 137
2003 135 118 145
2002 133 120 149
2001 127 115 143
2000 122 109 134
1999 121 107 124
1998 121 110 124
1997 126 110 127
1996 126 110 128
1995 125 107 126
1994 121 107 123

Data sources: World Bank | Economy & Growth (1994–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine | CC BY

Compared with 2000, in 2024 Palestine is ranked 141st out of 182 by GDP (down from 122nd), 137th by GDP per capita (down from 109th), and 150th by GDP per capita PPP (down from 134th).

Economic indicators

Palestine Rank
Gross domestic product
$13.7B
2024
146/197
GDP growth
-26.6%
2023-2024
194/194
GDP per capita
$2,592
2024
147/197
GDP per capita, PPP
$4,371
2024
164/197
Average annual personal income after taxes
$6,862
2026
95/197
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
155/195
Consumer prices inflation
53.7%
2023-2024
6/195
Unemployment rate
31.4%
2024
4/196
Population
5500288
122/197

Inflation rate by year

1x
Year Inflation
2024 53.7%
2023 5.87%
2022 3.74%
2021 1.24%
2020 -0.74%
2019 1.58%
2018 -0.2%
2017 0.21%
2016 -0.22%
2015 1.43%
2014 1.73%
2013 1.72%
2012 2.78%
2011 2.88%
2010 3.75%
2009 2.75%
2008 9.89%
2007 1.86%
2006 3.84%
2005 4.11%
2004 3%
2003 4.4%
2002 5.71%
2001 1.22%
2000 2.8%
1999 5.54%
1998 5.58%
1997 7.09%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine | CC BY

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 above shows consumer price inflation by year.

Balance of trade

Palestine Rank
Current account balance
-$2.9B
2024
155/190
Current account balance, % of GDP
-21.1%
2024
183/190
Goods imports
$6.87B
2024
123/189
Goods exports
$2.37B
2024
136/189
Service imports
$1.39B
2024
136/189
Service exports
$514M
2024
143/189
Imports of goods and services, % of GDP
60.3%
2024
50/181
Exports of goods and services, % of GDP
21%
2024
144/193

Palestine 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

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

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

Other economic metrics

Palestine Rank
Services, % of GDP
58.5%
2023
84/191
Industry, % of GDP
15.6%
2023
159/194
Agriculture, forestry, and fishing, % of GDP
5.7%
2023
104/193
GNI, Atlas method
$14.3B
2024
145/194
GNI per capita, PPP
$4,660
2024
156/191
Total reserves including gold
$1.33B
2024
138/177
Net foreign direct investment
-$151M
2024
79/189
Net inflows of foreign direct investment
$162M
2024
139/193
Net outflows of foreign direct investment
$10.7M
2024
117/193
Poverty at national poverty lines
29.2%
2016
60/176
Gross capital formation, % of GDP
23.5%
2024
85/178

Compare Palestine vs other countries

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/palestine | CC BY

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1985–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. TradeMap (2022–2023, retrieved 2026-02-08)
  4. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  5. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.