The Palestinian territories are considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, the Palestinian Territories may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Every year, the Palestinian Territories export about US$0.892 billion and import about US$4.17 billion. 27.6% of the country's population is unemployed. The total number of unemployed in the Palestinian Territories is 1,394,566. In the Palestinian Territories, 25.8% of the population lives below the poverty line. The percentage of citizens living below the poverty line in the Palestinian Territories is quite high, but nothing to worry about in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 4.6% of GDP. The country's Gini index is 35.5. The Palestinian territories experience good equality. The majority of citizens in the Palestinian Territories fall within a narrow income bracket, although some cases can show significant disparities. Palestinian Territories have a Human Development Index (HDI) of 0.686. Palestinian Territories have an upper middle HDI score. This indicates that the majority of citizens will be able to lead a worthwhile life, although some citizens will not be able to achieve a high standard of living.
The total gross domestic product (GDP) in the Palestinian territories is 12.579 billion. Based on this statistic, the Palestinian Territories are considered moderately economically strong. Middle economy countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in mid-sized economies. The gross domestic product (GDP) per capita in the Palestinian territories was last given as 2 million US dollars. The average citizen in the Palestinian Territories has very little wealth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as citizens find it difficult to obtain the training required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual growth rate of GDP in the Palestinian territories averaged -15% in 2014. According to this percentage, the Palestinian territories are currently experiencing a significant decline. Countries experiencing significant declines could see dramatic declines in personal consumption, employment rates, and personal income. A significant drop in GDP should warn investors that this location is high risk and should not be considered a safe place to invest.
The currency of Palestinian territories is Israeli israeli new shekel. There are several plural forms of the name 'Israeli israeli new shekel'. These are shekels, shekalim. The symbol used for this currency is ₪, and it is abbreviated as ILS.
The depth of credit information index for Palestinian territories is 8, which means that information is mostly sufficient and quite detailed; accessibility is not a problem.
In Palestinian territories, the institution that manages the state's currency, money supply, and interest rates is called Palestine Monetary Authority. Locally, the central bank of Palestinian territories is called سلطة النقد الفلسطينية. The average deposit interest rate offered by local banks in Palestinian territories is 0.8%.
The government debt of Palestinian territories has not been calculated yet.
The corporate tax in Palestinian territories is set at 15%. Personal income tax ranges from 5% to 15%, depending on your specific situation and income level. VAT in Palestinian territories is 14.5%, and it is known as Sales Tax.