Palestinian Central Bureau of Statistics (PCBS): Press report of economic forecasts for 2017
Ms. Ola Awad, President of the Palestinian Central Bureau of Statistics (PCBS), has reviewed
- The performance of the Palestinian economy during 2016.
- The economic forecasts for the year 2017.
Ms. Ola Awad, President of the Palestinian Central Bureau of Statistics (PCBS), has reviewed today 27/12/2016, the performance of the Palestinian economy during 2016, as well as the economic forecasts for the year 2017.
Palestinian Economic Performance during 2016
The preliminary estimates for 2016 compiled in accordance with the data available for the first three quarters of the year, and indicators for the fourth quarter 2016 used to estimate the data for that quarter. It should be noted that the data will be revised after the completion of collection of data from relevant sources.
Rise in the Gross Domestic Product (GDP) and GDP per capita during 2016
Preliminary estimates indicated an increase in GDP in Palestine by 3.9% during 2016 compared with 2015; GDP per capita has increased by 1.0% during 2016 compared with 2015.
The largest contributor to the increase in GDP in 2016 was the activity of construction, which rose by 4.7% and the total number of employees increased by 12.3%. The second contributor was the industry activity with a gross value added rising by 4.2% compared to 2015. The total number of employees in the industry activity also increased by 5.3%.
Preliminary estimates of Palestinian labor market indicators
Preliminary estimates indicated an increase in the number of employed persons in the Palestinian labor market by 3.0% in 2016 compared to 2015. The increase was attributed to the high increase in the number of workers in construction, industry and services activities. Preliminary estimates also showed that 12.1% of employed individuals worked in Israel, compared to 11.5% in 2015.
Unemployment rate increased to 27.2% in 2016 compared with 26.2% in 2015.
An increase in exports and imports of goods and services during 2016.
Preliminary estimates of Palestinian foreign trade movements, represented in exports and imports, indicated that the value of exports increase by 6.3% compared to 2015 and the value of imports increased by 7.3% compared to 2015.
Preliminary estimates, showed that the average of overall consumer prices index in Palestine recorded a stability during 2016 compared with 2015.
 Data at constant prices with 2004 as the base year. Data excludes those parts of Jerusalem Governorate, which were annexed by Israel in 1967. Data for 2016 were based on preliminary estimates and may be revised.
 Data includes those parts of Jerusalem governorate which were annexed by Israel in 1967.