How Palestinian exports of $1 billion impact trade deficit
Governmental and nongovernmental parties in Palestine are trying to support the export sector in a bid to reduce the trade deficit and dependency on the Israeli economy.
GAZA CITY, Gaza Strip — For the first time in the history of Palestinian trade, Palestinian exports exceeded the $1 billion mark in 2017. On World Statistics Day (Oct. 20), the head of the Palestinian Central Bureau of Statistics (PCBS), Ola Awad, released the data on Palestinian exports.
Economic experts, however, believe that this is a small rise with no impact on the Palestinian trade deficit. Palestinian imports reached $5.3 billion in 2017, according to the PCBS, while Gaza’s total exports amounted to $8.3 million, which constitutes 0.78% only of the total Palestinian exports for 2017. This reflects the bad situation of Gaza’s export sector, due to the Israeli blockade and the prevailing political conditions.
