The agency highlighted that before the military campaign against the Gaza Strip in October 2013, GDP exceeded $13 billion; now it stands at around $10 billion.

As a consequence of the conflict, the national economy has suffered the erosion of a third of its productive base following damage in the West Bank and the near-total collapse of the economic system in the Gaza Strip, it emphasized.

The PCBS warned of unprecedented unemployment rates affecting half of the workforce, high levels of food insecurity, and Israel’s suffocating financial blockade, which is impacting vital sectors.

At the sectoral level, he detailed that agriculture, forestry, and fishing saw a 30 percent decline; mining, manufacturing, water and electricity supply, 33 percent; construction, 57 percent; services, 27 percent; and transportation and storage, 17 percent.

Palestinian exports of goods also decreased by 6.0 percent and imports by 14 percent over the past two years.

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