4 Hrs
Source:
Sky News
UNCTAD Reports Palestinian Economy at Global Crisis Lowest
The United Nations Conference on Trade and Development (UNCTAD) report indicates that the Palestinian economy is currently facing its worst recorded crisis worldwide, with nearly complete collapse of the Gaza Strip’s economy and a deepening deterioration of economic activity in the West Bank. Damage in Gaza has affected 92% of economic enterprises that provide employment opportunities, with unemployment levels exceeding 90%. Additionally, per capita gross domestic product (GDP) has fallen to $212 in 2025, agricultural production has declined by 94%, and infrastructure has been significantly damaged, with damages estimated at $19 billion. The report explains that the GDP contracted by 20% in 2025 compared to 2022, as the economy faces major challenges due to imposed restrictions, alongside a worsening financial crisis resulting from Israel’s withholding of clearance revenues since May 2025. UNCTAD called on the international community to provide the necessary funding for reconstruction and recovery, emphasizing that establishing a sovereign Palestinian state requires a resilient and rebuilding economy to achieve peace and stability in the region.
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