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Economy of Palestine vs Ukraine compared: GDP & Debt

Updated on by Georank team

Palestine has a GDP of $13.7B compared to $191B for Ukraine, ranking 146/197 and 57/197 by economy size, respectively.

Palestine vs Ukraine GDP by year

Palestine
Ukraine
1x
Year GDP, current $
Palestine Ukraine
2024 $13,711,100,000 $190,741,262,415
2023 $17,847,900,000 $181,221,517,869
2022 $19,165,500,000 $161,989,520,721
2021 $18,109,000,000 $199,765,859,571
2020 $15,531,700,000 $156,617,722,013
2019 $17,133,500,000 $153,883,047,510
2018 $16,276,600,000 $130,891,088,294
2017 $16,128,000,000 $112,090,505,082
2016 $15,405,400,000 $93,355,869,404
2015 $13,972,400,000 $91,030,967,789
2014 $13,989,700,000 $133,503,871,862
2013 $13,515,500,000 $190,498,811,460
2012 $12,208,400,000 $182,591,753,828
2011 $11,186,100,000 $169,333,835,202
2010 $9,681,500,000 $141,209,170,427
2009 $8,085,700,000 $121,552,153,444
2008 $7,310,400,000 $188,110,390,660
2007 $5,815,700,000 $148,733,861,386
2006 $5,348,300,000 $111,884,752,475
2005 $5,125,700,000 $89,238,865,119
2004 $4,603,100,000 $67,220,154,164
2003 $3,968,000,000 $52,010,355,753
2002 $3,555,800,000 $43,956,163,612
2001 $4,003,700,000 $39,309,580,983
2000 $4,313,600,000 $32,375,083,935
1999 $4,271,200,000 $31,580,639,554
1998 $4,067,800,000 $41,882,523,345
1997 $3,759,800,000 $50,151,531,592
1996 $3,409,600,000 $44,558,831,005
1995 $3,282,800,000 $48,213,856,469
1994 $2,843,300,000 $52,549,580,265
1993 - $65,648,559,903
1992 - $73,945,908,384
1991 - $77,350,733,982
1990 - $81,393,558,423
1989 - $82,709,161,099
1988 - $74,703,517,903
1987 - $64,087,694,038

Data sources: World Bank | Economy & Growth (1987–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine/ukraine | CC BY

GDP per capita in Palestine vs Ukraine by year

Palestine
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Palestine Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,592 $4,371 $5,038 $18,550
2023 $3,455 $5,950 $4,803 $17,665
2022 $3,800 $6,163 $3,946 $14,770
2021 $3,679 $5,663 $4,510 $17,846
2020 $3,234 $5,956 $3,505 $15,541
2019 $3,657 $6,508 $3,423 $14,217
2018 $3,562 $6,216 $2,895 $12,555
2017 $3,620 $6,107 $2,467 $11,536
2016 $3,528 $6,062 $2,047 $10,865
2015 $3,272 $5,770 $1,988 $9,922
2014 $3,352 $5,382 $2,904 $10,494
2013 $3,315 $5,288 $4,130 $10,904
2012 $3,067 $5,215 $3,951 $9,552
2011 $2,881 $4,495 $3,657 $9,127
2010 $2,557 $4,121 $3,040 $8,453
2009 $2,192 $3,950 $2,607 $7,995
2008 $2,035 $3,713 $4,018 $9,324
2007 $1,664 $3,486 $3,160 $8,900
2006 $1,570 $3,354 $2,366 $7,971
2005 $1,544 $3,372 $1,875 $7,142
2004 $1,422 $3,014 $1,401 $6,663
2003 $1,258 $2,469 $1,076 $5,764
2002 $1,156 $2,179 $903 $5,123
2001 $1,336 $2,515 $800 $4,747
2000 $1,476 $2,783 $653 $4,228
1999 $1,499 $3,052 $632 $3,871
1998 $1,465 $2,852 $831 $3,794
1997 $1,389 $2,530 $987 $3,794
1996 $1,317 $2,269 $870 $3,812
1995 $1,327 $2,302 $933 $4,124
1994 $1,202 $2,201 $1,009 $4,565
1993 - - $1,254 $5,766
1992 - - $1,413 $6,568
1991 - - $1,483 $7,148
1990 - - $1,564 $7,591
1989 - - $1,593 -
1988 - - $1,444 -
1987 - - $1,244 -

Data sources: World Bank | Economy & Growth (1987–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine/ukraine | CC BY

Palestine's GDP per capita is $2,592, ranking 147/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), Palestine ranks 164th at $4,371, while Ukraine ranks 101st at $18,550.

Economic indicators

Palestine Ukraine
Gross domestic product
$13.7B
2024
$191B
2024
GDP rank
146/197
2024
57/197
2024
GDP growth
-26.6%
2023-2024
2.91%
2023-2024
GDP per capita
$2,592
2024
$5,038
2024
GDP per capita rank
147/197
2024
120/197
2024
GDP per capita, PPP
$4,371
2024
$18,550
2024
GDP per capita PPP rank
164/197
2024
101/197
2024
Government debt n/a
$171B
2024
Debt-to-GDP ratio n/a
89.7%
2024
Government debt per person n/a
$4,520
2024
Government debt per person rank n/a
86/185
2024
Average annual personal income after taxes
$6,862
2026
$5,370
2026
Market capitalization of domestic companies
$4.08B
2024
$4.42B
2018
Number of billionaires n/a
7
2025
Income share by richest 10%
27.1%
2023
21.7%
2020
Income share by poorest 10%
2.5%
2023
4.3%
2020
Government expenditure, % of GDP
20%
2025
71.3%
2024
Consumer prices inflation
53.7%
2023-2024
6.5%
2023-2024
Central bank interest rate n/a
15.5%
2025
Unemployment rate
31.4%
2024
9.83%
2021
Population
5500288
40125599

Inflation comparison by year

Inflation
Palestine

Ukraine
1x
Year Consumer prices inflation
Palestine Ukraine
2024 53.7% 6.5%
2023 5.87% 12.9%
2022 3.74% 20.2%
2021 1.24% 9.4%
2020 -0.74% 2.7%
2019 1.58% 7.9%
2018 -0.2% 10.9%
2017 0.21% 14.4%
2016 -0.22% 13.9%
2015 1.43% 48.7%
2014 1.73% 12.1%
2013 1.72% -0.3%
2012 2.78% 0.6%
2011 2.88% 8%
2010 3.75% 9.4%
2009 2.75% 15.9%
2008 9.89% 25.2%
2007 1.86% 12.8%
2006 3.84% 9.1%
2005 4.11% 13.5%
2004 3% 9%
2003 4.4% 5.2%
2002 5.71% 0.8%
2001 1.22% 12%
2000 2.8% 28.2%
1999 5.54% 22.7%
1998 5.58% 10.6%
1997 7.09% 15.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/palestine/ukraine | CC BY

Over the past 28 years, Palestine has recorded an average annual inflation rate of 4.9%, compared with 12.8% in Ukraine. In 2024, inflation was 53.7% in Palestine and 6.5% in Ukraine.

Top exports between countries

Palestine
Export category Export value
Ukraine
Export category Export value
Processed food, beverages & tobacco $16.2M
Raw agricultural goods $4.35M
Wood & paper products $610K
Raw materials & minerals $109K
Machinery & equipment $43K
Animal & marine products $32K
Chemicals & pharma $16K
Textiles & consumer goods $6K
Metals $5K

Balance of trade

Palestine Ukraine
Current account balance
-$2.9B
2024
-$15.1B
2024
Current account balance ranking
155/190
2024
179/190
2024
Current account balance, % of GDP
-21.1%
2024
-7.94%
2024
Goods imports
$6.87B
2024
$72.3B
2024
Goods exports
$2.37B
2024
$39.3B
2024
Service imports
$1.39B
2024
$22.9B
2024
Service exports
$514M
2024
$17.3B
2024
Imports of goods and services, % of GDP
60.3%
2024
48.3%
2024
Exports of goods and services, % of GDP
21%
2024
29.4%
2024

Economic freedom indices

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

Palestine Ukraine
Economic freedom 30 54.1
Economic freedom ranking 192/197 135/197
Property rights n/a 21.6
Government integrity n/a 35
Judicial effectiveness n/a 28.2
Tax burden n/a 83.7
Government spending n/a 0
Fiscal health n/a 3.9
Business freedom n/a 57.4
Labor freedom n/a 46.9
Monetary freedom n/a 65.7
Trade freedom n/a 73
Investment freedom n/a 35
Financial freedom n/a 30

Other economic metrics

Palestine Ukraine
Services, % of GDP
58.5%
2023
60.6%
2024
Industry, % of GDP
15.6%
2023
19%
2024
Agriculture, forestry, and fishing, % of GDP
5.7%
2023
7.11%
2024
GNI, Atlas method
$14.3B
2024
$184B
2024
GNI per capita, PPP
$4,660
2024
$18,560
2024
Total reserves including gold
$1.33B
2024
$43.8B
2024
Total reserves ranking
138/177
2024
46/177
2024
Net foreign direct investment
-$151M
2024
-$3.71B
2024
Net inflows of foreign direct investment
$162M
2024
$4.02B
2024
Net outflows of foreign direct investment
$10.7M
2024
$305M
2024
Servicing debt to the IMF, % of GNI n/a
5.42%
2024
Poverty at national poverty lines
29.2%
2016
23.2%
2020
Gross capital formation, % of GDP
23.5%
2024
18.6%
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/ukraine | CC BY

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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. International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (2022–2026, retrieved 2026-03-09)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  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.