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![]() ![]() West Bank Economy 1997https://photius.com/wfb1997/west_bank/west_bank_economy.htmlSOURCE: 1997 CIA WORLD FACTBOOK Economy - overview Economic progress in the West Bank has been hampered by tight Israelisecurity restrictions. Industries using advanced technology or requiring sizableinvestment have been discouraged by a lack of local capital and restrictiveIsraeli policies. Capital investment consists largely of residential housing,not productive assets that would enable local Palestinian firms to competewith Israeli industry. GDP has been substantially supplemented by remittancesof workers employed in Israel. Such transfers from the Persian Gulf statesdropped after Iraq invaded Kuwait in August 1990. In the wake of the PersianGulf crisis, many Palestinians have returned to the West Bank, increasingunemployment, and export revenues have dropped because of the decline of marketsin Jordan and the Gulf states. An estimated 147,000 people were in refugeecamps in 1996. GDP purchasing power parity - $2.8 billion (1996 est.) GDP - real growth rate -1% to -2% (1996 est.) GDP - per capita purchasing power parity - $1,600 (1996 est.) GDP - composition by sector
Inflation rate - consumer price index 11% (1995 est.) Labor force
NA
Unemployment rate 35% to 40% (1996 est.) Budget
Industries generally small family businesses that produce cement, textiles, soap,olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have establishedsome small-scale, modern industries in the settlements and industrial centers Industrial production growth rate NA% Electricity - capacity
NA kW
Electricity - production
NA kWh
Electricity - consumption per capita NA kWh Agriculture - products olives, citrus and other fruits, vegetables; beef, dairy products Exports
Imports
Debt - external $NA Economic aid
Currency 1 new Israeli shekel (NIS) = 100 new agorot; 1 Jordanian dinar (JD)= 1,000 fils Exchange rates new Israeli shekels (NIS) per US$1 - 3.41 (May 1997), 3.2882 (1996),3.0113 (1995), 3.0111 (1994), 2.8301 (1993), 2.4591 (1992); Jordanian dinars(JD) per US$1 - 0.7090 (January 1997), 0.7090 (1996), 0.7005 (1995), 0.6987(1994), 0.6928 (1993), 0.6797 (1992) Fiscal year
calendar year (since 1 January 1992)
NOTE: The information regarding West Bank on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of West Bank Economy 1997 information contained here. All suggestions for corrections of any errors about West Bank Economy 1997 should be addressed to the CIA. |
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