Annual GDP growth in Palestine, State of
Palestine, State of: Annual GDP growth was -22.9% in 2024. ◆ Volatile
Annual GDP growth in Palestine, State of, 1995–2024
Source: International Monetary Fund (2026) – with minor processing by Our World in Data. Measured in %.
Analysis
In 2024, annual gdp growth in Palestine, State of stood at -22.9%. That is the lowest value across all 30 years on record.
Compared with earlier readings it is down 2,251.5% on the previous year and down 14,366.5% over ten years.
Over the whole period, annual gdp growth in Palestine, State of peaked at 21.9% in 2004 and was at its lowest, -22.9%, in 2024.
That places Palestine, State of 195th out of 196 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Palestine, State of, year by year
| Year | % | Change |
|---|---|---|
| 1995 | 7.1% | — |
| 1996 | 1.2% | -82.9% |
| 1997 | 14.7% | +1107.2% |
| 1998 | 14.3% | -2.3% |
| 1999 | 8.3% | -42.2% |
| 2000 | -8.6% | -203.3% |
| 2001 | -9.3% | +8.8% |
| 2002 | -12.5% | +34.1% |
| 2003 | 14.0% | -212.2% |
| 2004 | 21.9% | +56.4% |
| 2005 | 11.3% | -48.5% |
| 2006 | -1.0% | -108.8% |
| 2007 | 3.8% | -479.9% |
| 2008 | 7.4% | +96.1% |
| 2009 | 8.6% | +15.7% |
| 2010 | 5.8% | -32.8% |
| 2011 | 9.6% | +66.2% |
| 2012 | 6.1% | -36.5% |
| 2013 | 4.7% | -22.9% |
| 2014 | -0.2% | -103.4% |
| 2015 | 3.7% | -2455.1% |
| 2016 | 8.9% | +138.2% |
| 2017 | 1.4% | -84.0% |
| 2018 | 1.2% | -13.5% |
| 2019 | 1.4% | +11.1% |
| 2020 | -11.3% | -930.4% |
| 2021 | 7.0% | -162.0% |
| 2022 | 4.1% | -41.8% |
| 2023 | -1.0% | -123.8% |
| 2024 | -22.9% | +2251.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 9.1% | 1.2% | 14.7% | 5 |
| 2000s | 3.6% | -12.5% | 21.9% | 10 |
| 2010s | 4.3% | -0.2% | 9.6% | 10 |
| 2020s | -4.8% | -22.9% | 7.0% | 5 |
Countries ranked near Palestine, State of
- 192 Botswana -3.0% compare
- 193 Libya -11.2% compare
- 194 Venezuela, Bolivarian Republic of -19.7% compare
- 196 South Sudan -26.1% compare
More economy & growth data for Palestine, State of
- Services, value added (constant LCU), per capita 1,292 constant LCU per person (2025)
- GDP deflator (base year varies by country), annual growth rate 2.72 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), annual growth -12.3 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.8198 current US$ per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current US$), per capita 2,483 current US$ per person (2024)
- Gross value added at basic prices (GVA) (current LCU), annual growth -12.3 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 0.8198 current LCU per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current LCU), per capita 2,483 current LCU per person (2024)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 4.97 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.5919 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is annual gdp growth in Palestine, State of?
- Annual gdp growth in Palestine, State of was -22.9% in 2024, according to International Monetary Fund (2026) – with minor processing by Our World in Data.
- What is the highest annual gdp growth recorded in Palestine, State of?
- The highest recorded value was 21.9% in 2004.
- What is the lowest annual gdp growth recorded in Palestine, State of?
- The lowest recorded value was -22.9% in 2024.
- How does Palestine, State of rank for annual gdp growth?
- Palestine, State of ranks 195th out of 196 countries with data for 2024.
- Is annual gdp growth rising or falling in Palestine, State of?
- Over the last ten years it is down 14,366.5%. The long-run trend across the full record is volatile.
- Where does this Palestine, State of data come from?
- The figures come from International Monetary Fund (2026) – with minor processing by Our World in Data, published as part of Annual GDP growth. Statizoid updates them automatically from the source API.
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About this data
Annual percent change in gross domestic product. This data is adjusted for inflation.