long form:
none
local short form:
Qita Ghazzah
Digraph:
GZ

*Gaza Strip, Economy

Overview:
In 1990 roughly 40% of Gaza Strip workers were employed across the border by
Israeli industrial, construction, and agricultural enterprises, with worker
remittances accounting for about one-third of GNP. The construction,
agricultural, and industrial sectors account for about 15%, 12%, and 8% of
GNP, respectively. Gaza depends upon Israel for some 90% of its external
trade. Unrest in the territory in 1988-93 (intifadah) has raised
unemployment and substantially lowered the standard of living of Gazans. The
Persian Gulf crisis and its aftershocks also have dealt severe blows to Gaza
since August 1990. Worker remittances from the Gulf states have plunged,
unemployment has increased, and exports have fallen dramatically. The area's
economic outlook remains bleak.
National product:
GNP - exchange rate conversion - $380 million (1991 est.)
National product real growth rate:
-30% (1991 est.)
National product per capita:
$590 (1991 est.)
Inflation rate (consumer prices):
9% (1991 est.)
Unemployment rate:
20% (1990 est.)
Budget:
revenues $33.8 million; expenditures $33.3 million, including capital
expenditures of $NA (FY88)
Exports:
$30 million (f.o.b., 1989)
commodities:
citrus
partners: Israel, Egypt
Imports:
$255 million (c.i.f., 1989)
commodities:
food, consumer goods, construction materials
partners:
Israel, Egypt
External debt:
$NA
Industrial production:
growth rate 10% (1989); accounts for about 8% of GNP
Electricity:
power supplied by Israel
Industries:
generally small family businesses that produce textiles, soap, olive-wood
carvings, and mother-of-pearl souvenirs; the Israelis have established some
small-scale modern industries in an industrial center
Agriculture:
accounts for about 12% of GNP; olives, citrus and other fruits, vegetables,
beef, dairy products
Economic aid:
NA
Currency:
1 new Israeli shekel (NIS) = 100 new agorot
Exchange rates:
new Israeli shekels (NIS) per US$1 - 2.6480 (November 1992), 2.4591 (1992),
2.2791 (1991), 2.0162 (1990), 1.9164 (1989), 1.5989 (1988), 1.5946 (1987)
Fiscal year:
calendar year (since 1 January 1992)

*Gaza Strip, Communications

Railroads:
one line, abandoned and in disrepair, some trackage remains
Highways:
small, poorly developed indigenous road network
Ports: