A General Outlook For The Palestinian economy in 2020

A General Outlook for the Palestinian Economy in 2020

GDP estimates for 2020

Before COVID-19

increase-03

2.4%

 

After COVID-19

decrease-03

14%

Economic losses of $2.5 billion

Expected economic losses

$1.3

Billion

consumption-05

public and private gross consumption

$2.1

Billion

investment-05

Investment

$1

Billion

import-05

Imports

Losses per sector

fishing

$200

Million

Agriculture, Forestry and Fishing

activity

$362

Million

Industrial Activity

construction

$220

Million

Construction

services

$1.175

Billion

Services

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59%

due to wholesale and retail losses

31%

due to losses in other services

10%

due to losses of hotels and restaurants

Enterprises and Unemployment

146,866

Enterprises

employee

444,086

Employees

Most affected

88.6% are small-sized

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Employing 50.5%

Most affected

10% are medium-sized

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Employing 26%

1.4% are big-sized

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Employing 23.5%

Unemployment rate in 2019 stood at 24%

***The above data is based on the estimates of the Palestinian Central Bureau of Statistics (PCBS) for the Palestinian economy in light of the current coronavirus pandemic***