with Israeli
industry. A major share of GNP is derived from remittances of workers
employed in Israel and Persian Gulf states, but such transfers from the Gulf
dropped dramatically after Iraq invaded Kuwait in August 1990. In the wake
of the Persian Gulf crisis, many Palestinians have returned to the West
Bank, increasing unemployment, and export revenues have plunged because of
the loss of markets in Jordan and the Gulf states. Israeli measures to
curtail the intifadah also have pushed unemployment up and lowered living
standards. The area's economic outlook remains bleak.
National product: GNP - exchange rate conversion - $1.3 billion (1990 est.)
National product real growth rate:
-10% (1990 est.)
National product per capita:
$1,200 (1990 est.)
Inflation rate (consumer prices):
11% (1991 est.)
Unemployment rate:
15% (1990 est.)
Budget:
revenues $31.0 million; expenditures $36.1 million, including capital
expenditures of $NA (FY88)
Exports:
$150 million (f.o.b., 1988 est.)
commodities:
NA
partners:
Jordan, Israel
Imports:
$410 million (c.i.f., 1988 est.)
commodities:
NA
partners:
Jordan, Israel
External debt:
$NA
Industrial production:
growth rate 1% (1989); accounts for about 4% of GNP
Electricity:
power supplied by Israel
Industries:
generally small family businesses that produce cement, textiles, soap,
olive-wood carvings, and mother-of-pearl souvenirs; the Israelis have
established some small-scale modern industries in the settlements and
industrial centers
Agriculture:
accounts for about 15% of GNP; olives, citrus and other fruits, vegetables,
beef, and dairy products
Economic aid:
NA
Currency:
1 new Israeli shekel (NIS) = 100 new agorot; 1 Jordanian dinar (JD) = 1,000
fils

*West Bank, Economy

Exchange rates:
new Israeli shekels (NIS) per US$1 - 2.6480 (November 1992), 2.2791 (1991),
2.0162 (1990), 1.9164 (1989), 1.5989 (1988), 1.5946 (1987); Jordanian dinars
(JD) per US$1 - 0.6890 (January 1993), 0.6797 (1992), 0.6808 (1991), 0.6636
(1990), 0.5704 (1989), 0.3709 (1988)
Fiscal year:
calendar year (since 1 January 1992)

*West Bank, Communications

Highways:
small road network, Israelis developing east-west axial highways to service
new settlements
Airports:
total:
2
usable:
2
with permanent-surface runways:
2
with runways over 3,659 m:
0
with runways 2,440-3,659 m:
0
with