West Bank and Gaza: GDP, PPP (current international $)
In , West Bank and Gaza's GDP, PPP (current international $) was $23.12 billion.
That's down 24.8% from 2023, the highest value since .
The global average for this indicator in 2024 was $1.04 trillion . West Bank and Gaza ranks #148 globally out of 188 reporting countries. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #18 of 19.
Source: World Bank Open Data (NY.GDP.MKTP.PP.CD) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- $31.09B
- Trough
- $11.20B
- 1-year change
- -24.8%
- 5-year change
- -24.2%
- -5.4% / yr
- 10-year change
- +2.9%
- +0.3% / yr
Real vs nominal growth
Over the last 10 years, West Bank and Gaza's nominal GDP, PPP (current international $) changed by +2.9%, while real (inflation-adjusted) GDP, PPP (constant 2021 international $) changed by -18.6%. The +21.6 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, PPP (current international $) |
|---|---|
| 23.119B | |
| 30.736B | |
| 31.085B | |
| 27.878B | |
| 28.610B | |
| 30.494B | |
| 28.401B | |
| 27.204B | |
| 26.474B | |
| 24.638B |
About GDP, PPP (current international $)
This indicator provides values for gross domestic product (GDP) expressed in current international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. 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 series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.
Indicator code: NY.GDP.MKTP.PP.CD • Category: Economy
Frequently asked questions
- What was West Bank and Gaza's GDP, PPP (current international $) in 2024?
- In 2024, West Bank and Gaza's GDP, PPP (current international $) was $23.12 billion, according to World Bank Open Data.
- Is West Bank and Gaza's GDP, PPP (current international $) rising or falling?
- West Bank and Gaza's GDP, PPP (current international $) fell 24.8% from 2023 to 2024.
- How does West Bank and Gaza rank globally on GDP, PPP (current international $)?
- In 2024, West Bank and Gaza ranked #148 out of 188 countries reporting GDP, PPP (current international $).
- How does West Bank and Gaza's GDP, PPP (current international $) compare to the world average?
- The global average for GDP, PPP (current international $) in 2024 was $1.04 trillion, 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, PPP (current international $) and how is it measured?
- This indicator provides values for gross domestic product (GDP) expressed in current international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. 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 series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.
Source: World Bank Open Data (NY.GDP.MKTP.PP.CD), CC BY 4.0.