Economic Facts & Figures

Palestine has a slowly and steadily growing economy. GDP in current US$ has grown from $2.84 billion in 1994 to $12.67 billion in 2015. This growth is mainly driven by the private sector’s resilience, persistence and passion for international exposure.

Check the enclosed brief about the four most important sectors that contribute to around 25% of Palestine’s GDP.

ICT is the fastest growing sector in Palestine. It leverages its growth by focusing on the huge and highly educated Palestinian labor pool, in addition to Palestine’s geographic proximity to high technology centers within the region. Sector highlights: 1. 100% digital telecommunication infrastructure that is entirely developed by the Palestinian private sector. 2. Palestine hosts more than 250 companies specialized in the field of information and communication technology. 3. The IT sector contribution is between 5-7% of the total Palestinian GDP. 4. $600 million is the net contribution of the ICT sector in the Palestinian market. 5. The market has over 3 million mobile phone subscribers, over 400 thousand fixed-line subscribers, in addition to 100 radio stations and local television stations, and 17 companies operating in the field of telecommunications, and Internet.
Tourism is a continuously growing sector that is able to attract foreign and domestic investments due to its cultural and religious diversity, as well as environmental and natural wealth. Sector highlights: 1. The estimated contribution of the tourism sector to Palestine’s GDP is 6%, which translates to about $348,917 million. 2. There are 6,258 tourism sector establishments providing jobs to 33,319 Palestinians. 3. According to Palestine’s Central Bureau of Statistics, 432 thousand tourists have visited Palestine in 2015. 4. Palestine is currently implementing hotel classification system, to meet international standards.
 
The stone and marble industry is considered the biggest industry in Palestine as measured by sales volume, employment rate, and total investment. Sector highlights: 1. The Stone and Marble sector represents 4.8% of the Palestinian GDP with an average annual sales of approximately $600 million. 2. Technology in use for about 85% of the sector is semi-automatic, and about 15% are automatic equipment. 3. 95% of the raw material come from local sources. 4. The sector succeeded in penetrating regional and international markets. 5. There are currently 1,124 Stone and Marble establishments which directly employ 25,000 workers. 6. Palestine’s stone industry ranked 12th globally.
 
Agriculture is one of the most important sectors for Palestine’s Economy. It contributes more than 6% to the national GDP and employs around 12% of the total Palestinian workforce. The agricultural land covers approximately 1.834 million acres that is cultivated with all kinds of vegetables and field crops, in addition to the groves of fruit trees. The unique location and historical presence of numerous civilizations in the region lead to a richness in biodiversity, where many types of natural vegetation and wildlife can now be found in Palestine. This sector is evolving rapidly. Olive oil remains Palestine’s largest exported product to the United States contributing to 38% of total exports to North America. However, Palestine also exports products such as medical plants, which witnessed a huge growth and are a great addition to existing export products of citrus, olives, tomatoes, spices, dates and fruits as well as roses and strawberries. Palestine can provide pesticide-free Medjool dates grown especially to meet the United States market requirements. While twenty two herbs are also produced and exported based on international standards, regulations and markets specifications.
 

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The General Delegation of the Palestine Liberation Organization to the U.S. is the official representative of the PLO in the United States.

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