GDP (Gross Domestic Product): West Bank and Gaza

Analysis# West Bank and Gaza GDP (Gross Domestic Product) West Bank and Gaza's GDP reached $13.711 billion in 2024, down significantly from its all-time peak of $19.166 billion in 2022. Since 1994, when the economy was valued at just $2.843 billion, the region has achieved a cumulative expansion of 382.3%, reflecting three decades of economic development despite persistent volatility. The 2022 peak represented the culmination of steady growth from 2015 through 2021, when GDP climbed from $13.972 billion to $18.109 billion. However, 2023 and 2024 marked a sharp reversal, with the economy contracting by $5.455 billion over two years. This recent decline suggests mounting economic headwinds, positioning the region's GDP trajectory as increasingly uncertain heading forward.