A General Outlook for the Palestinian Economy in 2020
- 04 May 2020
GDP estimates for 2020
Before COVID-19
2.4%
After COVID-19
14%
Economic losses of $2.5 billion
Expected economic losses
$1.3
Billion
public and private gross consumption
$2.1
Billion
Investment
$1
Billion
Imports
Losses per sector
$200
Million
Agriculture, Forestry and Fishing
$362
Million
Industrial Activity
$220
Million
Construction
$1.175
Billion
Services
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
444,086
Employees
Most affected
88.6% are small-sized
Employing 50.5%
Most affected
10% are medium-sized
Employing 26%
1.4% are big-sized
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***