In 2010, the Palestinian economy continued to grow at a quick pace, witheconomic growth reaching 9.3%, due to a very quick recovery of the Gazaeconomy (15%), accompanied by continued growth of the West Bank economy (8%
). The PA's GDP in 2010 amounted to USD 5,728 million, and theGDP per capita increased by 6.1%, in comparison to the previous year.
Israelipolicy in the West Bank and Gaza contributed significantly to this growth.Increased Palestinian sales to Israel, a higher volume of commercial goodsshipped from the West Bank via the land crossings to Israel and abroad,growing numbers of tourists visiting the West Bank, and increasedconstruction, are all additional indications of the growth of the Palestinianeconomy.Israel wishes to resume peace negotiations with the PA, with the aim ofreaching a bilateral agreement for a two-state solution. Israel lent its supportto efforts led by the international community to implement projects and buildcapacity and institutions in various fields.Israel expanded its professional dialogue with the PA in a variety of areas,aiming to upgrade: Palestinian financial services, water and sewageinfrastructure, the legal system and the rule of law, agriculture, and theelectricity network, inter alia. These steps were accompanied by intensifiedsecurity coordination between the authorities on both sides, seeking greater security and improved institutional capacity. Still, the terror attacks followingthe resumption of peace negotiations last September, the horrific terror attacks of the last few weeks in Itamar and Jerusalem, and the barrage ofmissiles now being launched against civilians in southern Israel, all serve aspainful reminders of just how distant real security remains.
Last June, Israel eased its policy towards the Gaza Strip. The immediateimplementation of the policy is reflected in economic growth of 15% in Gaza.
According to the IMF.
Compared to USD 5,241 in 2009. Source: Palestinian Central Bureau of Statistics.