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West Bank and Gaza: GDP (current US$)

In , West Bank and Gaza's GDP (current US$) was $13.71 billion.

That's down 23.2% from 2023, the highest value since .

The global average for this indicator in 2024 was $572.20 billion . West Bank and Gaza ranks #142 globally out of 192 reporting countries. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #18 of 19.

Source: World Bank Open Data (NY.GDP.MKTP.CD) • Data as of 2024

Trend (2005–2024)

West Bank and Gaza GDP (current US$) trend 2008: Global financial crisis 2020: COVID-19 pandemic 2014: Oil price collapse 2022: Russia–Ukraine war begins
  • 2008 · Global financial crisis
  • 2020 · COVID-19 pandemic
  • 2014 · Oil price collapse
  • 2022 · Russia–Ukraine war begins

Highlights

Peak
$19.17B
Trough
$5.13B
1-year change
-23.2%
5-year change
-20.0%
-4.4% / yr
10-year change
-2.0%
-0.2% / yr

Real vs nominal growth

Over the last 10 years, West Bank and Gaza's nominal GDP (current US$) changed by -2.0%, while real (inflation-adjusted) GDP (constant 2015 US$) changed by -18.6%. The +16.7 percentage-point gap is the combined effect of inflation and currency movement — only the real series isolates underlying economic growth.

Historical Data — Last 10 Years

Year GDP (current US$)
13.711B
17.848B
19.166B
18.109B
15.532B
17.134B
16.277B
16.128B
15.405B
13.972B

About GDP (current US$)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Indicator code: NY.GDP.MKTP.CD • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was West Bank and Gaza's GDP (current US$) in 2024?
In 2024, West Bank and Gaza's GDP (current US$) was $13.71 billion, according to World Bank Open Data.
Is West Bank and Gaza's GDP (current US$) rising or falling?
West Bank and Gaza's GDP (current US$) fell 23.2% from 2023 to 2024.
How does West Bank and Gaza rank globally on GDP (current US$)?
In 2024, West Bank and Gaza ranked #142 out of 192 countries reporting GDP (current US$).
How does West Bank and Gaza's GDP (current US$) compare to the world average?
The global average for GDP (current US$) in 2024 was $572.20 billion, so West Bank and Gaza is below the world average. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #18 of 19.
What is GDP (current US$) and how is it measured?
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
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Source: World Bank Open Data (NY.GDP.MKTP.CD), CC BY 4.0.