Current Account Balance: West Bank and Gaza
West Bank and Gaza's current account balance is currently -21.1 % of GDP as of 2024. # West Bank and Gaza Current Account Balance West Bank and Gaza's current account balance stood at -21.
Current (2024)
-21.1 % of GDP
-62.3% y/y
Peak (2008)
5.2 % of GDP
Low (1999)
-34.8 % of GDP
Source
IMF World Economic Outlook
1994–2024 · 31 pts
Current Account Balance — West Bank and Gaza
1994 — 2024
Current Account Balance — West Bank and Gaza
Analysis# West Bank and Gaza Current Account Balance
West Bank and Gaza's current account balance stood at -21.1% of GDP in 2024, marking a sharp deterioration from the previous year's -13.0%. This deficit remains far below the region's all-time peak of 5.2% in 2008, though notably better than the historical low of -34.8% in 1999. Since 1994, the metric has shifted 28.5 percentage points, reflecting decades of structural economic challenges.
A critical turning point emerged in 2023-2024, when the deficit nearly doubled year-over-year. Prior to this reversal, the region had shown modest improvement from 2019 to 2021, when deficits narrowed to -9.8%. The recent deterioration suggests mounting pressures on external balances, likely reflecting escalating geopolitical disruptions and reduced external financing. Without significant economic or political stabilization, the trajectory indicates deepening current account imbalances ahead.
Historical Data
31 Rows| Year | Value | Change % |
|---|---|---|
| 2024 | -21.1 % of GDP | -62.31% |
| 2023 | -13 % of GDP | -22.64% |
| 2022 | -10.6 % of GDP | -8.16% |
| 2021 | -9.8 % of GDP | +20.33% |
| 2020 | -12.3 % of GDP | -18.27% |
| 2019 | -10.4 % of GDP | +21.21% |
| 2018 | -13.2 % of GDP | +0.00% |
| 2017 | -13.2 % of GDP | +5.04% |
| 2016 | -13.9 % of GDP | +0.00% |
| 2015 | -13.9 % of GDP | -2.21% |
| 2014 | -13.6 % of GDP | +8.11% |
| 2013 | -14.8 % of GDP | +0.67% |
| 2012 | -14.9 % of GDP | +19.46% |
| 2011 | -18.5 % of GDP | -37.04% |
| 2010 | -13.5 % of GDP | +4.26% |
| 2009 | -14.1 % of GDP | -371.15% |
| 2008 | 5.2 % of GDP | +172.22% |
| 2007 | -7.2 % of GDP | +68.83% |
| 2006 | -23.1 % of GDP | +13.16% |
| 2005 | -26.6 % of GDP | +22.90% |
Show all 31 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | -34.5 % of GDP | -27.78% |
| 2003 | -27 % of GDP | -97.08% |
| 2002 | -13.7 % of GDP | +33.82% |
| 2001 | -20.7 % of GDP | -4.02% |
| 2000 | -19.9 % of GDP | +42.82% |
| 1999 | -34.8 % of GDP | -31.82% |
| 1998 | -26.4 % of GDP | +15.92% |
| 1997 | -31.4 % of GDP | -1.29% |
| 1996 | -31 % of GDP | +2.21% |
| 1995 | -31.7 % of GDP | -7.46% |
| 1994 | -29.5 % of GDP | — |
Related Data
Other Metrics
For West Bank and Gaza
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Demographics
People & population data
No demographic data available.