Observatory of Economic Complexity

Flag Palestine

Product Exports (2018): $1.2B, Rank 145 of 222

Exports Per Capita (2018): $262, Rank 101 of 219

Product Imports (2018): $5.21B, Rank 130 of 221

Imports Per Capita (2018): $1.14k, Rank 90 of 219

Service Exports (2017): $567M, Rank 116 of 139

Service Imports (2017): $1.5B, Rank 102 of 139

GDP (2018): $14.6B, CURRENT US$
Rank 124 of 196

GDP growth (2008 - 2018): 119%, CURRENT US$
Rank 23 of 196

GDP PC (2018): $3,199, CURRENT US$
Rank 135 of 196

GDP PC GROWTH (2008 - 2018): 72.2%, CURRENT US$
Rank 29 of 196

About

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Overview: In 2018 Palestine was the number 124 economy in the world in terms of GDP (current US$), the number 145 in total exports, and the number 130 in total imports. In 2018, Palestine exported $1.2B and imported $5.21B, resulting in a negative trade balance of -$4.02B. In 2018, Palestine's exports per capita were $262 and its imports per capita were $1.14k.

Trade: The top exports of Palestine are Building Stone ($189M), Scrap Iron ($62M), Other Furniture ($57M), Plastic Lids ($53M), and Pure Olive Oil ($40.8M). The top imports of Palestine are Refined Petroleum ($562M), Animal Food ($243M), Cement ($179M), Cars ($176M), and Petroleum Gas ($116M).

Destinations: Palestine exports mostly to Israel ($958M), Jordan ($106M), United Arab Emirates ($26.6M), Saudi Arabia ($22.6M), and United States ($14.1M), and imports mostly from Israel ($3.03B), Turkey ($381M), Jordan ($213M), China ($179M), and Egypt ($139M).

Location: Palestine borders Egypt, Israel, and Jordan by land.

Product Trade

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Product Exports

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Value
Depth

Top Export (2018): Building Stone, $189M

Top Destination (2018): Israel, $958M

In 2018 Palestine exported a total of $1.2B, making it the number 145 exporter in the world. During the last five reported years the exports of Palestine have changed by $247M from $949M in 2013 to $1.2B in 2018.

The most recent exports are led by Building Stone ($189M), Scrap Iron ($62M), Other Furniture ($57M), Plastic Lids ($53M), and Pure Olive Oil ($40.8M). The most common destination for the exports of Palestine are Israel ($958M), Jordan ($106M), United Arab Emirates ($26.6M), Saudi Arabia ($22.6M), and United States ($14.1M).

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Product Imports

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Value
Depth

Top Import (2018): Refined Petroleum, $562M

Top Origin (2018): Israel, $3.03B

In 2018 Palestine imported $5.21B, making it the number 130 trade destination in the world. During the last five reported years the imports of Palestine changed by $259M from $4.96B in 2013 to $5.21B in 2018.

The most recent imports of Palestine are led by Refined Petroleum ($562M), Animal Food ($243M), Cement ($179M), Cars ($176M), and Petroleum Gas ($116M). The most common import partners for Palestine are Israel ($3.03B), Turkey ($381M), Jordan ($213M), China ($179M), and Egypt ($139M).

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Monthly Trade

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Market Growth

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

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Service Trade

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Palestine Exports Services (2017): $567M

Palestine Imports Services (2017): $1.5B

In 2017, Palestine exported $567M worth of services. The top services exported by Palestine in 2017 were Personal travel ($225M), Construction abroad ($158M), Telecommunications services ($63.5M), Government services, n.i.e. ($52.3M), and Other business services ($30.1M).

The top services imported by Palestine in 2017 were Personal travel ($446M), Transportation ($328M), Business travel ($307M), Other business services ($202M), and Government services, n.i.e. ($154M).

Forecasts

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Trade Forecasts

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This section shows forecasts for total product exports and imports for Palestine. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Most Specialized Products by RCA Index

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Palestine has a high level of specialization in Building Stone (249), Cucumbers (162), Gravel and Crushed Stone (149), Glazed Ceramics (145), and Pure Olive Oil (73.8). Specialization is measured using RCA, an index that takes the ratio between Palestine observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Palestine according to the product complexity index (PCI) are Self-adhesive plates, sheets, film etc of plastic (1.55), Millstones, grinding stones and grinding wheels (1.38), Machinery, apparatus, equipment for print preparation (1.23), Copper nails, screws, bolts, pins, washers, etc (1.2), and Springs and leaves for springs, of iron or steel (1.12). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Palestine according to the relatedness index, are Wheat Flours (0.24), Cement (0.23), Raw Iron Bars (0.23), Raw Sugar (0.23), and Molasses (0.23). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Palestine is not specialized in.

Product Space

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The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

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With the support of:
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