As of 2023, the GDP composition of Palestine is largely driven by the services sector, which accounts for 43.29%. The wholesale, retail trade, restaurants, and hotels follow with a 22.48% contribution. Mining, manufacturing, and utilities sectors make up 16.35% of the GDP. Transport, storage, and communication sectors contribute 7.29%, while construction accounts for 6.18%, and agriculture-related sectors contribute 4.42%
In recent years, the services sector has shown robust growth, whereas traditional sectors like agriculture have seen a relative decline. The wholesale and retail trade, alongside hotels and restaurants, have experienced moderate growth, often linked to shifts in consumer behavior and tourism.
Looking forward to 2024, important trends to monitor include the digital transformation within the services sector, increasing demand for sustainable energy solutions impacting utilities, and potential growth in the transportation sector influenced by regional infrastructure developments. Moreover, geopolitical stability could significantly alter economic compositions, affecting both growth and sectorial contributions.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 43.29 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 22.48 | 2016 | |
| 3 | 3 Mining, Manufacturing, Utilities | 16.35 | 2016 | |
| 4 | 4 Transport, storage and communication | 7.29 | 2016 | |
| 5 | 5 Construction | 6.18 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 4.42 | 2016 |
