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Economy of Palestine vs South Africa compared: GDP & Debt

Updated on by Georank team

Palestine has a GDP of $13.7B compared to $401B for South Africa, ranking 146/197 and 40/197 by economy size, respectively.

Palestine vs South Africa GDP by year

Palestine
South Africa
1x
Year GDP, current $
Palestine South Africa
2024 $13,711,100,000 $401,144,998,374
2023 $17,847,900,000 $381,440,724,491
2022 $19,165,500,000 $407,596,043,068
2021 $18,109,000,000 $419,986,284,375
2020 $15,531,700,000 $337,974,655,408
2019 $17,133,500,000 $389,330,032,224
2018 $16,276,600,000 $405,260,723,893
2017 $16,128,000,000 $381,448,814,653
2016 $15,405,400,000 $323,585,509,674
2015 $13,972,400,000 $346,709,790,459
2014 $13,989,700,000 $381,198,869,776
2013 $13,515,500,000 $400,886,013,596
2012 $12,208,400,000 $434,400,545,086
2011 $11,186,100,000 $458,199,494,831
2010 $9,681,500,000 $417,363,822,802
2009 $8,085,700,000 $329,754,060,647
2008 $7,310,400,000 $316,131,258,616
2007 $5,815,700,000 $333,077,117,254
2006 $5,348,300,000 $303,858,675,364
2005 $5,125,700,000 $288,867,217,197
2004 $4,603,100,000 $255,806,908,595
2003 $3,968,000,000 $197,018,965,309
2002 $3,555,800,000 $129,087,556,612
2001 $4,003,700,000 $135,429,905,923
2000 $4,313,600,000 $151,752,757,215
1999 $4,271,200,000 $151,516,957,079
1998 $4,067,800,000 $152,982,984,557
1997 $3,759,800,000 $168,978,057,328
1996 $3,409,600,000 $163,234,925,381
1995 $3,282,800,000 $171,735,933,897
1994 $2,843,300,000 $153,512,712,382
1993 - $147,194,747,566
1992 - $146,956,150,987
1991 - $135,203,698,238
1990 - $126,048,140,142
1989 - $108,055,624,082
1988 - $103,976,831,871
1987 - $96,535,763,418
1986 - $73,354,771,399
1985 - $64,459,376,087
1984 - $84,870,163,366
1983 - $96,204,110,942
1982 - $85,904,057,409
1981 - $93,141,472,164
1980 - $89,411,864,402
1979 - $63,038,658,089
1978 - $51,607,412,902
1977 - $45,328,411,332
1976 - $41,150,460,288
1975 - $42,906,905,672
1974 - $41,389,186,095
1973 - $33,262,772,008
1972 - $24,515,919,217
1971 - $23,411,076,638
1970 - $21,218,391,513
1969 - $19,256,992,297
1968 - $17,124,793,150
1967 - $15,821,393,671
1966 - $14,211,394,315
1965 - $13,068,994,772
1964 - $11,955,995,218
1963 - $10,854,195,658
1962 - $9,813,996,074
1961 - $9,225,996,310
1960 - $8,748,596,501

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine/south-africa | CC BY

GDP per capita in Palestine vs South Africa by year

Palestine
GDP per capita

GDP per capita, PPP
South Africa
GDP per capita

GDP per capita, PPP
1x
Year Current $
Palestine South Africa
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,592 $4,371 $6,267 $15,456
2023 $3,455 $5,950 $6,034 $15,200
2022 $3,800 $6,163 $6,534 $14,749
2021 $3,679 $5,663 $6,829 $13,682
2020 $3,234 $5,956 $5,581 $12,671
2019 $3,657 $6,508 $6,534 $13,361
2018 $3,562 $6,216 $6,914 $13,347
2017 $3,620 $6,107 $6,618 $13,738
2016 $3,528 $6,062 $5,651 $13,519
2015 $3,272 $5,770 $6,112 $13,398
2014 $3,352 $5,382 $6,857 $13,359
2013 $3,315 $5,288 $7,332 $13,369
2012 $3,067 $5,215 $8,077 $12,987
2011 $2,881 $4,495 $8,646 $13,143
2010 $2,557 $4,121 $7,973 $12,637
2009 $2,192 $3,950 $6,375 $12,261
2008 $2,035 $3,713 $6,185 $12,525
2007 $1,664 $3,486 $6,592 $12,047
2006 $1,570 $3,354 $6,077 $11,250
2005 $1,544 $3,372 $5,837 $10,441
2004 $1,422 $3,014 $5,221 $9,714
2003 $1,258 $2,469 $4,062 $9,139
2002 $1,156 $2,179 $2,688 $8,792
2001 $1,336 $2,515 $2,847 $8,428
2000 $1,476 $2,783 $3,218 $8,095
1999 $1,499 $3,052 $3,242 $7,667
1998 $1,465 $2,852 $3,310 $7,463
1997 $1,389 $2,530 $3,700 $7,433
1996 $1,317 $2,269 $3,618 $7,208
1995 $1,327 $2,302 $3,856 $6,875
1994 $1,202 $2,201 $3,489 $6,611
1993 - - $3,400 $6,375
1992 - - $3,462 $6,275
1991 - - $3,243 $6,383
1990 - - $3,093 $6,382
1989 - - $2,727 -
1988 - - $2,702 -
1987 - - $2,586 -
1986 - - $2,027 -
1985 - - $1,839 -
1984 - - $2,504 -
1983 - - $2,938 -
1982 - - $2,717 -
1981 - - $3,050 -
1980 - - $3,029 -
1979 - - $2,202 -
1978 - - $1,852 -
1977 - - $1,671 -
1976 - - $1,559 -
1975 - - $1,670 -
1974 - - $1,656 -
1973 - - $1,369 -
1972 - - $1,038 -
1971 - - $1,020 -
1970 - - $952 -
1969 - - $891 -
1968 - - $817 -
1967 - - $779 -
1966 - - $722 -
1965 - - $685 -
1964 - - $646 -
1963 - - $605 -
1962 - - $563 -
1961 - - $546 -
1960 - - $532 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine/south-africa | CC BY

Palestine's GDP per capita is $2,592, ranking 147/197, compared to $6,267 in South Africa, ranking 111/197. Adjusted for purchasing power (GDP per capita PPP), Palestine ranks 164th at $4,371, while South Africa ranks 112th at $15,456.

Economic indicators

Palestine South Africa
Gross domestic product
$13.7B
2024
$401B
2024
GDP rank
146/197
2024
40/197
2024
GDP growth
-26.6%
2023-2024
0.53%
2023-2024
GDP per capita
$2,592
2024
$6,267
2024
GDP per capita rank
147/197
2024
111/197
2024
GDP per capita, PPP
$4,371
2024
$15,456
2024
GDP per capita PPP rank
164/197
2024
112/197
2024
Government debt n/a
$305B
2024
Debt-to-GDP ratio n/a
76%
2024
Government debt per person n/a
$4,761
2024
Government debt per person rank n/a
83/185
2024
Average annual personal income after taxes
$6,862
2026
$15,431
2026
Market capitalization of domestic companies
$4.08B
2024
$986B
2024
Number of millionaires n/a
90,595
2025
Number of billionaires n/a
7
2025
Income share by richest 10%
27.1%
2023
50.5%
2014
Income share by poorest 10%
2.5%
2023
0.9%
2014
Government expenditure, % of GDP
20%
2025
33%
2024
Consumer prices inflation
53.7%
2023-2024
4.36%
2023-2024
Central bank interest rate n/a
6.75%
2025
Unemployment rate
31.4%
2024
32.3%
2024
Population
5500288
65683993

Inflation comparison by year

Inflation
Palestine

South Africa
1x
Year Consumer prices inflation
Palestine South Africa
2024 53.7% 4.36%
2023 5.87% 6.08%
2022 3.74% 7.04%
2021 1.24% 4.62%
2020 -0.74% 3.23%
2019 1.58% 4.1%
2018 -0.2% 4.51%
2017 0.21% 5.19%
2016 -0.22% 6.6%
2015 1.43% 4.52%
2014 1.73% 6.13%
2013 1.72% 5.78%
2012 2.78% 5.74%
2011 2.88% 5%
2010 3.75% 4.07%
2009 2.75% 7.24%
2008 9.89% 9.91%
2007 1.86% 6.18%
2006 3.84% 3.24%
2005 4.11% 2.06%
2004 3% -0.69%
2003 4.4% 5.68%
2002 5.71% 9.49%
2001 1.22% 5.7%
2000 2.8% 5.34%
1999 5.54% 5.18%
1998 5.58% 6.88%
1997 7.09% 8.6%

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

GeoRank.org/economy/palestine/south-africa | CC BY

Over the past 28 years, Palestine has recorded an average annual inflation rate of 4.9%, compared with 5.42% in South Africa. In 2024, inflation was 53.7% in Palestine and 4.36% in South Africa.

Top exports between countries

Palestine
Export category Export value
Chemicals & pharma $64K
Processed food, beverages & tobacco $41K
Raw agricultural goods $12K
South Africa
Export category Export value
Machinery & equipment $170K
Chemicals & pharma $11K
Miscellaneous $8K
Precious metals & jewellery $2K

Balance of trade

Palestine South Africa
Current account balance
-$2.9B
2024
-$2.58B
2024
Current account balance ranking
155/190
2024
152/190
2024
Current account balance, % of GDP
-21.1%
2024
-0.64%
2024
Goods imports
$6.87B
2024
$99.8B
2024
Goods exports
$2.37B
2024
$112B
2024
Service imports
$1.39B
2024
$20B
2024
Service exports
$514M
2024
$16.1B
2024
Imports of goods and services, % of GDP
60.3%
2024
29.9%
2024
Exports of goods and services, % of GDP
21%
2024
31.8%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Palestine South Africa
Economic freedom 30 58.6
Economic freedom ranking 192/197 110/197
Property rights n/a 48.8
Government integrity n/a 46.7
Judicial effectiveness n/a 64.6
Tax burden n/a 65.4
Government spending n/a 68.4
Fiscal health n/a 45.3
Business freedom n/a 67.9
Labor freedom n/a 70.8
Monetary freedom n/a 75.8
Trade freedom n/a 68.8
Investment freedom n/a 40
Financial freedom n/a 40

Other economic metrics

Palestine South Africa
Services, % of GDP
58.5%
2023
63%
2024
Industry, % of GDP
15.6%
2023
24.3%
2024
Agriculture, forestry, and fishing, % of GDP
5.7%
2023
2.81%
2024
GNI, Atlas method
$14.3B
2024
$391B
2024
GNI per capita, PPP
$4,660
2024
$15,150
2024
Total reserves including gold
$1.33B
2024
$65.4B
2024
Total reserves ranking
138/177
2024
36/177
2024
Net foreign direct investment
-$151M
2024
-$3.59B
2024
Net inflows of foreign direct investment
$162M
2024
$2.33B
2024
Net outflows of foreign direct investment
$10.7M
2024
-$1.26B
2024
Servicing debt to the IMF, % of GNI n/a
5.74%
2024
Poverty at national poverty lines
29.2%
2016
55.5%
2014
Gross capital formation, % of GDP
23.5%
2024
14.1%
2024

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/south-africa | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  4. TradeMap (2020–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.