[ Nominal GDP in billions of USD ]
Year -
$13.71 billions
Palestine GDP expanded from 1994 to 2024, increasing from $2.84 billion to $13.71 billion.The compound annual growth rate (CAGR) averaged 5.39% over the period. The economy recorded its peak level in 2022 and its lowest level in 1994. Growth volatility remained high. The maximum drawdown reached 28.48%, indicating the largest cyclical decline from peak levels. The country experienced 4 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 13.71 Billions | $ 23.12 Int Billions |
| Growth (YoY) | -23.178% | -24.782% |
| Net Change vs Previous Year | $ -4.14 Billion | $ -7.62 Int Billion |
| % of World GDP | 0.01% | 0.01% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | - | - | - | - | - | - |
| 1971 | - | - | - | - | - | - |
| 1972 | - | - | - | - | - | - |
| 1973 | - | - | - | - | - | - |
| 1974 | - | - | - | - | - | - |
| 1975 | - | - | - | - | - | - |
| 1976 | - | - | - | - | - | - |
| 1977 | - | - | - | - | - | - |
| 1978 | - | - | - | - | - | - |
| 1979 | - | - | - | - | - | - |
| 1980 | - | - | - | - | - | - |
| 1981 | - | - | - | - | - | - |
| 1982 | - | - | - | - | - | - |
| 1983 | - | - | - | - | - | - |
| 1984 | - | - | - | - | - | - |
| 1985 | - | - | - | - | - | - |
| 1986 | - | - | - | - | - | - |
| 1987 | - | - | - | - | - | - |
| 1988 | - | - | - | - | - | - |
| 1989 | - | - | - | - | - | - |
| 1990 | - | - | - | - | - | - |
| 1991 | - | - | - | - | - | - |
| 1992 | - | - | - | - | - | - |
| 1993 | - | - | - | - | - | - |
| 1994 | 2.84 | - | - | 5.21 | - | - |
| 1995 | 3.28 | 0.44 | 15.457 % | 5.7 | 0.49 | 9.364 % |
| 1996 | 3.41 | 0.13 | 3.863 % | 5.87 | 0.17 | 3.068 % |
| 1997 | 3.76 | 0.35 | 10.271 % | 6.85 | 0.98 | 16.645 % |
| 1998 | 4.07 | 0.31 | 8.192 % | 7.92 | 1.07 | 15.619 % |
| 1999 | 4.27 | 0.2 | 5 % | 8.69 | 0.78 | 9.813 % |
| 2000 | 4.31 | 0.04 | 0.993 % | 8.13 | -0.56 | -6.484 % |
| 2001 | 4 | -0.31 | -7.184 % | 7.54 | -0.59 | -7.269 % |
| 2002 | 3.56 | -0.45 | -11.187 % | 6.7 | -0.84 | -11.128 % |
| 2003 | 3.97 | 0.41 | 11.592 % | 7.79 | 1.09 | 16.267 % |
| 2004 | 4.6 | 0.64 | 16.006 % | 9.75 | 1.96 | 25.203 % |
| 2005 | 5.13 | 0.52 | 11.353 % | 11.2 | 1.44 | 14.78 % |
| 2006 | 5.35 | 0.22 | 4.343 % | 11.43 | 0.23 | 2.057 % |
| 2007 | 5.82 | 0.47 | 8.739 % | 12.18 | 0.75 | 6.6 % |
| 2008 | 7.31 | 1.49 | 25.701 % | 13.34 | 1.16 | 9.499 % |
| 2009 | 8.09 | 0.78 | 10.605 % | 14.57 | 1.24 | 9.263 % |
| 2010 | 9.68 | 1.6 | 19.736 % | 15.6 | 1.03 | 7.063 % |
| 2011 | 11.19 | 1.5 | 15.541 % | 17.45 | 1.85 | 11.862 % |
| 2012 | 12.21 | 1.02 | 9.139 % | 20.75 | 3.3 | 18.915 % |
| 2013 | 13.52 | 1.31 | 10.707 % | 21.56 | 0.8 | 3.868 % |
| 2014 | 13.99 | 0.47 | 3.509 % | 22.46 | 0.9 | 4.188 % |
| 2015 | 13.97 | -0.02 | -0.124 % | 24.64 | 2.18 | 9.7 % |
| 2016 | 15.41 | 1.43 | 10.256 % | 26.47 | 1.84 | 7.452 % |
| 2017 | 16.13 | 0.72 | 4.691 % | 27.2 | 0.73 | 2.756 % |
| 2018 | 16.28 | 0.15 | 0.921 % | 28.4 | 1.2 | 4.399 % |
| 2019 | 17.13 | 0.86 | 5.265 % | 30.49 | 2.09 | 7.371 % |
| 2020 | 15.53 | -1.6 | -9.349 % | 28.61 | -1.88 | -6.18 % |
| 2021 | 18.11 | 2.58 | 16.594 % | 27.88 | -0.73 | -2.557 % |
| 2022 | 19.17 | 1.06 | 5.834 % | 31.09 | 3.21 | 11.503 % |
| 2023 | 17.85 | -1.32 | -6.875 % | 30.74 | -0.35 | -1.121 % |
| 2024 | 13.71 | -4.14 | -23.178 % | 23.12 | -7.62 | -24.782 % |
Between 1994 to 2024, Palestine experienced the following economic phases:
The most remarkable growth occurred in 2008 with an increase of 25.701%, while the largest decline was in 2024 at -23.178%.