Economy - overview: Economic progress in the Gaza Strip has been hampered by tight Israeli security restrictions. In 1991 roughly 40% of Gaza Strip workers were employed across the border by Israeli industrial, construction, and agricultural enterprises, with worker remittances supplementing GDP by roughly 50%. Gaza has depended upon Israel for nearly 90% of its external trade. The Persian Gulf crisis and its aftershocks has dealt blows to Gaza since August 1990. Worker remittances from the Gulf states have dropped, unemployment and popular unrest have increased, and living standards have fallen. The withdrawal of Israel from the Gaza Strip in May 1994 has added to the set of adjustment problems. This series of disruptions has meant a sharp decline in employment in Israel since 1991 and a drop in GDP as a whole. An estimated 378,000 persons were in refugee camps in 1996.
GDP: purchasing power parity - $1 billion (1996 est.)
GDP - real growth rate: -1% to -2% (1996 est.)
GDP - per capita: purchasing power parity - $1,100 (1996 est.)
GDP - composition by sector: agriculture : 33% industry: 25% services: 42% (1995 est., includes West Bank)
Inflation rate - consumer price index: 11% (1995 est.)
Labor force: NA by occupation: construction 33.4%, agriculture 20.0%, commerce, restaurants, and hotels 14.9%, industry 10.0%, other services 21.7% (1991) note: excluding Israeli settlers
Unemployment rate: 35% to 40% (1996 est.)
Budget: revenues: $684 million expenditures : $779 million, including capital expenditures of $NA (1996) note: includes West Bank
Industries: generally small family businesses that produce textiles, soap, olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have established some small-scale modern industries in an industrial center