GDP increased at constant prices by 1% in Palestine during the Q2 of 2023 compared to Q1

Primary estimates for Gross Domestic Product (GDP) at constant prices showed an increase of 1% in GDP in Palestine during the 2nd quarter of 2023 compared to the 1st quarter of the same year, according to the Palestinian Central Bureau of Statistics (PCBS). The increase was mainly in Agriculture, Forestry and Fishing by 23%, Public Administration and Defense, Information and Communication by 5% for each, Mining, Manufacturing, Electricity and Water by 4%, Financial and Insurance Activities by 3%, Meanwhile, there was a decrease in Construction by 6%, Transportation and Storage by 3%, and Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles by 1%. On the other hand, it showed an increase of 3% in Palestine during the 2nd quarter of 2023 compared to the 2nd quarter of 2022 at constant prices, which excludes the seasonal effect. GDP for the 2nd quarter of 2023 at constant prices was $3,327 million for the West Bank and $645 million for the Gaza Strip. GDP per Capita for Palestine at constant p rices was $769 during the 2nd quarter of 2023, an increase of 0.3% compared to the 1st quarter of 2023. As for the West Bank, it was $1,129 at constant prices during the 2nd quarter of 2023, an increase of 1% during the 2nd quarter 2023 compared to the 1st quarter of 2023, while for the Gaza Strip was $291 during the 2nd quarter of 2023, a decrease by 3% during the 2nd quarter 2023 compared to the 1st quarter 2023. Source: Palestine news and Information Agency - WAFA