RAMALLAH, According to a report by the Palestinian Central Bureau of Statistics (PCBS), the Gross Domestic Product (GDP) at constant prices increased by 2% in Palestine during the 1st quarter 2021 compared to the 4th quarter 2020.
Primary estimates for GDP at constant prices showed an increase of 2% in Palestine during the 1st quarter 2021 compared to the 4th quarter 2020 at constant prices, mainly in (Services, Construction, Transportation and Storage) by 7% for each activity, Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles 3%, Financial and Insurance Activities 2%.
On the other hand, it showed a decrease of 6% in GDP in Palestine during the 1st quarter 2021 compared to the 1st quarter 2020 which excludes the seasonal effect, meanwhile the base year is 2015. GDP for the 1st quarter 2021 at constant prices was USD 2,974 million for the West Bank and USD 634 million for Gaza Strip.
GDP per Capita for Palestine at constant prices was USD 738 during the 1st quarter 2021, it showed an increase of 1% compared to the 4th quarter 2020. As for the West Bank it was USD 1,060 at constant prices during the 1st quarter 2021, it showed an increase by 1% during the 1st quarter 2021 compared to the 4th quarter 2020, while for Gaza Strip it was USD 304 during the 1st quarter 2021, and it showed an increase by 2% during the 1st quarter 2021 compared to the 4th quarter 2020.
Source: Palestinian News & Info Agency