West Bank and Gaza's gross Value Added (GVA) at basic prices (current LCU) was 13.13 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 7.6% from 12.2 billion in 2014 (0.73% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 13.13 billion | 2024 |
| Five years earlier | 14.84 billion | 2019 |
| Ten years earlier | 12.2 billion | 2014 |
| Highest | 15.61 billion | 2022 |
| Lowest | 2.82 billion | 1994 |
| Average since 2015 | 14 billion | 2015–2024 |
| First recorded | 2.82 billion |
What the numbers say
In 2024, West Bank and Gaza's gross Value Added (GVA) at basic prices (current LCU) fell 12.3% on 2023 (from 14.97 billion to 13.13 billion).
Across the 29 yearly changes before that (1995 to 2023), the average change was +6.2% and a typical year strayed about 8% from that (the standard deviation). This year's change was 2.3 standard deviations below that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 22.7% in 2008 and the biggest yearly fall was 12.3% in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 29% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, West Bank and Gaza had the 19th highest value of the 31 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to West Bank and Gaza in the 2024 ranking
- Papua New Guinea — 16th of 31: 113.36 billion
- Faroe Islands — 17th of 31: 24.64 billion
- Bahamas, The — 18th of 31: 13.83 billion
- Solomon Islands — 20th of 31: 13.13 billion
- Monaco — 21st of 31: 10.28 billion
- Bermuda — 22nd of 31: 8.86 billion
What this measures
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 31 values
| Year | Gross Value Added (GVA) at basic prices (current LCU) |
|---|---|
| 2024 | 13,130,900,000 |
| 2023 | 14,973,200,000 |
| 2022 | 15,613,900,000 |
| 2021 | 15,225,500,000 |
| 2020 | 13,152,500,000 |
| 2019 | 14,837,000,000 |
| 2018 | 14,099,000,000 |
| 2017 | 13,752,100,000 |
| 2016 | 13,221,400,000 |
| 2015 | 11,948,800,000 |
Gross Value Added (GVA) at basic prices (current LCU) in nearby economies
- Afghanistan — 1.19 trillion (2024)
- Algeria — 35.88 trillion (2025)
- Bahrain — 17.63 billion (2025)
- Djibouti — 776.76 billion (2025)
- Egypt, Arab Rep. — 17.4 trillion (2025)
- Iran, Islamic Rep. — 262,135 trillion (2025)
- Iraq — 330.68 trillion (2025)
- Israel — 1.83 trillion (2024)
- Jordan — 39.24 billion (2025)
- Kuwait
More economic policy & debt data for West Bank and Gaza
- Adjusted savings, education expenditure (% of GNI) — 4.08% (2021)
- Adjusted savings, mineral depletion (current US$) — US$0 (2021)
- Medium and high-tech manufacturing value added (% manufacturing value added) — 7.21% (2024)
- Primary income payments (BoP, current US$) — US$101.69 million (2025)
- Net primary income (current US$, BoP) — US$1.08 billion (2025)
- General government final consumption expenditure (current US$) — US$2.93 billion (2025)
- General government final consumption expenditure (current LCU) — 2.93 billion (2025)
- General government final consumption expenditure (constant 2015 US$)
Reading data like this
Questions people ask
- What is West Bank and Gaza's gross Value Added (GVA) at basic prices (current LCU)?
- 13.13 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1994?
- It is up 365.09% from 2.82 billion in 1994 (5.26% a year on average, compounded). The highest value was 15.61 billion in 2022 and the lowest 2.82 billion in 1994.
- How does West Bank and Gaza rank?
- 19th highest of 31 economies with data for 2024.
- Is the latest change in gross Value Added (GVA) at basic prices (current LCU) unusual for West Bank and Gaza?
- In 2024, West Bank and Gaza's gross Value Added (GVA) at basic prices (current LCU) fell 12.3% on 2023 (from 14.97 billion to 13.13 billion). Across the 29 yearly changes before that (1995 to 2023), the average change was +6.2% and a typical year strayed about 8% from that (the standard deviation). This year's change was 2.3 standard deviations below that average, so it was unusually large compared with the rest of the record.
Source
World Bank, World Development Indicators, indicator NY.GDP.FCST.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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