In a joint statement, the Palestinian Monetary Authority and the Palestinian Bureau of Statistics said that most economic activities have remarkably shrunk, which led to a significant decrease in the per capita income.
In a bid to avoid the virus, the Palestinian authorities have imposed partial and comprehensive closure, especially in the second quarter of 2020, which affected the GDP.
"The total consumption in Palestine has declined by 6 percent, while the investment has dropped by 36 percent," the report said.
Meanwhile, Palestine's trade volume reached 10 billion U.S. dollars, down by 10 percent year on year, the report added.
However, it predicts that 2021 will witness a gradual return to normal economic activities, as the anti-coronavirus vaccine will soon become available in the Palestinian territories.
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