The Palestinian Central Bureau of Statistics (PCBS) issued a press release on 9 November 2023 revealing the losses suffered by the private sector in Palestine as a result of the Israeli occupation aggression on the Gaza Strip. The press release underscores that one-third of private sector establishments in Palestine, approximately 56,000 establishments in Gaza Strip, have halted their production due to the severe impact of the occupation aggression. Internal trade constitutes the majority of establishments in Gaza Strip, accounting for about 56% of the total, followed by the services sector at 30%, and industry at 10%. The majority of employment in Gaza Strip has also been affected, with over 147,000 employees becoming unemployed, except for those in the health and humanitarian relief sectors.

The press release highlights the broader economic impact of the occupation aggression, not only on Gaza Strip but also on the West Bank. The Israeli aggression and its repercussions, such as restrictions, road closures, and limitations on goods access, have severely hindered economic activity throughout Palestine. Preliminary estimates suggest that private sector establishments in Palestine have incurred losses exceeding USD 713 million since the beginning of the Israeli occupation aggression on Gaza Strip, equivalent to around USD 24 million per day.

Furthermore, the press release points out the erosion of the production base in both the West Bank and Gaza Strip. In October 2023, the West Bank experienced a 37% decrease in production compared to the usual monthly production, resulting in an estimated loss of about USD 500 million. Gaza Strip, on the other hand, witnessed a significant decline of 84% in its monthly production during the month-long Israeli aggression, amounting to approximately USD 200 million.

For more details, please visit:

https://www.pcbs.gov.ps/site/512/default.aspx?lang=en&ItemID=4628