GDP Up, GDP Per Capita Down in Q2 2015, says Statistics Bureau

RAMALLAH, September 29, 2015 (WAFA) – Preliminary estimates at constant prices showed an increase of 2.1% in the total Gross Domestic Product in Palestine during the second quarter of 2015 compared to the same period of 2014, the Palestinian Central Bureau of Statistics (PCBS) said Tuesday.

The increase amounts to 3.3% in West Bank, whereas as it decrease in the Gaza Strip by 1.5%, said PCBS.

The results showed an increase of 6.0% compared to the first quarter of 2015, it said.

GDP per capita for Palestine was $448.2 during the second quarter of 2015, a reported decrease of 0.9% compared to the second quarter of 2014. It was $578.8 in the West Bank, an increase by 0.6%, while in the Gaza Strip is stood at $261.2 showing a decrease by 4.8% during the same period.

GDP is intended to be a measure of the value created by the productive activity of resident institutional units during a certain period in time. Estimate of GDP, like the output and the value added, can vary according to taxes and subsidies taken into consideration.

It is usually estimated at market prices, producers’ prices, or basic prices. There are three approaches to estimate the GDP: Output or Production approach, Expenditure approach, and Income approach.