Real GDP Growth: West Bank and Gaza
West Bank and Gaza's real gdp growth is currently -26.6% as of 2024. # West Bank and Gaza Real GDP Growth West Bank and Gaza's real GDP contracted by 26.
Current (2024)
-26.6%
-478.3% y/y
Peak (2004)
21.9%
Low (2024)
-26.6%
Source
IMF World Economic Outlook
1995–2024 · 30 pts
Real GDP Growth — West Bank and Gaza
1995 — 2024
Real GDP Growth — West Bank and Gaza
Analysis# West Bank and Gaza Real GDP Growth
West Bank and Gaza's real GDP contracted by 26.6% in 2024, marking both the lowest point in the IMF's 30-year dataset and a dramatic reversal from the region's peak growth of 21.9% in 2004. Since 1995, the economy has experienced a cumulative decline of 474.6%, reflecting decades of volatility and structural challenges. The current contraction represents an unprecedented deterioration in economic conditions.
The region showed fragile recovery between 2016 and 2022, with growth rates ranging from 1.2% to 8.9%, before deteriorating sharply in 2023 and collapsing in 2024. This sudden acceleration downward follows the pattern established by previous crises, including the 2020 contraction of 11.3% during the pandemic. The trajectory suggests sustained economic stress without clear indicators of near-term stabilization.
Historical Data
30 Rows| Year | Value | Change % |
|---|---|---|
| 2024 | -26.6% | -478.26% |
| 2023 | -4.6% | -212.20% |
| 2022 | 4.1% | -41.43% |
| 2021 | 7.0% | +161.95% |
| 2020 | -11.3% | -907.14% |
| 2019 | 1.4% | +16.67% |
| 2018 | 1.2% | -14.29% |
| 2017 | 1.4% | -84.27% |
| 2016 | 8.9% | +140.54% |
| 2015 | 3.7% | +1950.00% |
| 2014 | -0.2% | -104.26% |
| 2013 | 4.7% | -22.95% |
| 2012 | 6.1% | -36.46% |
| 2011 | 9.6% | +65.52% |
| 2010 | 5.8% | -32.56% |
| 2009 | 8.6% | +16.22% |
| 2008 | 7.4% | +94.74% |
| 2007 | 3.8% | +480.00% |
| 2006 | -1.0% | -108.85% |
| 2005 | 11.3% | -48.40% |
Show all 30 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 21.9% | +56.43% |
| 2003 | 14.0% | +212.00% |
| 2002 | -12.5% | -34.41% |
| 2001 | -9.3% | -8.14% |
| 2000 | -8.6% | -203.61% |
| 1999 | 8.3% | -41.96% |
| 1998 | 14.3% | -2.72% |
| 1997 | 14.7% | +1125.00% |
| 1996 | 1.2% | -83.10% |
| 1995 | 7.1% | — |
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Demographics
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