Foreign
THE economic situation in the Gaza Strip has been in a dire state since last year, even before the latest conflict broke out.
This is according to a report by the UN Conference on Trade and Development (UNCTAD) presented on Wednesday.
In Gaza, 80 per cent of the people are dependent on international aid, it said.
The actual economic output per capita in terms of gross domestic product (GDP) in the Gaza Strip in 2022 was 11.7 per cent below the level before the COVID-19 pandemic in 2019.
And 45 per cent of the people were unemployed.
The overall GDP per capita in all occupied Palestinian Territories is only 8 per cent of the level in Israel.
According to the report, Israel makes exports and trade relations so difficult that Palestinians are compelled to conduct 72 per cent of their trade with Israel.
Israel is preventing the import of necessary technologies for economic development.
Because there is hardly any work, 22.5 per cent of Palestinians with jobs in the West Bank have had no choice but to work in Israel or Israeli settlements in the West Bank.
Founded in Geneva in 1964, the UNCTAD promotes the interests of small to medium-income and developing countries in world trade. It has 195 member countries. (dpa/NAN)
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October 25, 2023 @ 15:00 GMT|
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