State of Palestine

Description of State of Palestine

Welcome to our website dedicated to analyzing the geopolitical and macroeconomic dynamics of the State of Palestine. In this volatile region of the Middle East, the State of Palestine faces unique challenges and opportunities that shape its development trajectory. By exploring the macroeconomic statistics and geopolitical implications, we aim to provide valuable insights into how external factors influence the country's economic stability and growth prospects. Join us as we delve into the complexities of the State of Palestine's position in the global landscape.

Population And Age Structure

Population, total: State of Palestine has a population of 4,803,269. This is below the average population of 40,097,746.58, ranking 123 out of 194 countries.

Population ages 0-14 (% of total population): The percentage of population aged 0-14 in State of Palestine is 39.48%, which is above the average of 27.34%. This ranks State of Palestine 38 out of 194 countries.

Population ages 0-14, total: State of Palestine has 1,896,176 children aged 0-14. This is below the average of 10,327,379.98, ranking 102 out of 194 countries.

Population ages 15-64 (% of total population): The percentage of population aged 15-64 in State of Palestine is 57.09%, below the average of 63.44%. State of Palestine ranks 156 out of 194 countries in this aspect.

Population ages 15-64, total: State of Palestine has 2,742,230 individuals aged 15-64. This is below the average of 26,003,407.49, ranking 125 out of 194 countries.

Population ages 65 and above (% of total population): In State of Palestine, 3.43% of the population is aged 65 and above, which is below the average of 9.22%. State of Palestine ranks 147 out of 194 countries in this demographic.

Population ages 65 and above, total: The total population aged 65 and above in State of Palestine is 164,863 individuals. This is far below the average of 3,766,959.08, ranking 136 out of 194 countries.

Summary

State of Palestine has a relatively young population with a higher percentage of individuals aged 0-14 compared to the global average. However, it has a lower percentage of individuals in the working-age bracket of 15-64. This demographic composition can impact the country's dependency ratio, workforce dynamics, and long-term economic development, emphasizing the need for tailored social and economic policies to address the needs of different age groups and ensure sustainable growth.

Population Miscellaneous

For Rural population, the State of Palestine has a value of 1,118,249, which is significantly below the average of 18,044,041. The country ranks 123 out of 190 countries in this attribute.

Regarding Rural population (% of total population), the State of Palestine is at 23.281%, lower than the average of 41.158%. It holds the 138th rank out of 190 countries.

The Urban population in the State of Palestine stands at 3,685,020, well below the average of 22,425,747. The country ranks 110 out of 194 countries in this category.

State of Palestine's Urban population (% of total population) is at 76.719%, higher than the average of 59.691%. It secures the 57th position among 194 countries included in the data.

In terms of Age dependency ratio (% of working-age population), the State of Palestine has a ratio of 75.159%, outperforming the average of 59.219%. It ranks 39 out of 194 countries.

The Birth rate, crude (per 1,000 people) in the State of Palestine is 28.8, exceeding the average of 19.384. The country is ranked 40 out of 192 countries in this aspect.

For Death rate, crude (per 1,000 people), the State of Palestine records a rate of 3.489, lower than the average of 8.214. It ranks 184 among 192 countries included in the data.

State of Palestine's Fertility rate, total (births per woman) is 3.57, higher than the average of 2.603. It ranks 43 out of 190 countries in this category.

Summary

The State of Palestine exhibits characteristics of a predominantly urban society with a relatively high urban population percentage as compared to its rural population. The country also shows a higher-than-average fertility rate and birth rate, along with a lower death rate. These indicators imply a relatively young and growing population, which can have implications for social services, infrastructure development, and economic growth strategies in the country.

Natural Resources

State of Palestine has a forest area of 101.4 sq. km, significantly below the average forest area of 211606.11 sq. km, ranking 175th out of 191 countries.

With a land area of 6020 sq. km, State of Palestine falls well below the average land area of 665166.51 sq. km, ranking 163rd out of 194 countries.

Similarly, its surface area of 6020 sq. km is much lower than the average surface area of 689779.56 sq. km, placing State of Palestine at 163rd out of 194 countries.

State of Palestine's arable land covers 46163.6 hectares, far less than the average of 7329543.16 hectares, ranking 159th out of 190 countries.

The country has 22643 hectares of land under cereal production, below the average of 4206011.63 hectares, leading to a rank of 150th out of 174 countries.

State of Palestine receives an average precipitation depth of 402 mm per year, which is lower than the average of 1157.83 mm per year, placing it at 148th out of 178 countries.

Regarding renewable internal freshwater resources, the country has 0.812 billion cubic meters, significantly lower than the average of 240.41 billion cubic meters, resulting in a rank of 156th out of 178 countries.

Summary

State of Palestine exhibits below-average figures in key macroeconomic indicators such as forest area, land area, arable land, cereal production, precipitation depth, and renewable internal freshwater resources. These statistics underscore the country's limited natural resources and agricultural potential, which could pose challenges for sustainable development, food security, and environmental conservation efforts.

Commodities

In terms of cereal production, State of Palestine's value of 50,313.28 metric tons falls significantly below the average of 17,249,945.93 metric tons, ranking 147th out of 174 countries in the dataset.

The aquaculture production in State of Palestine is 600 metric tons, much lower than the average of 679,642.92 metric tons, placing the country at the 134th position out of 180 countries.

State of Palestine's capture fisheries production stands at 4,661.9 metric tons, notably lower than the average of 467,453.06 metric tons, resulting in a rank of 149 out of 190 countries.

The total fisheries production in State of Palestine is 5,261.9 metric tons, well below the average of 1,153,914.85 metric tons, giving the country a rank of 153 out of 182 countries.

State of Palestine's fertilizer consumption of 340.43 kilograms per hectare of arable land is higher than the average of 159.04 kilograms per hectare, placing the country at the 19th position out of 187 countries.

Summary

State of Palestine's agricultural sector, specifically in cereal production, aquaculture, and fisheries, lags behind global averages, ranking relatively low in production levels compared to other countries. However, the country's higher-than-average fertilizer consumption per hectare of arable land indicates a potential for increasing agricultural productivity and improving food security. Addressing the disparities in production levels while maintaining sustainable agricultural practices could be crucial for enhancing State of Palestine's economic development and ensuring food sufficiency for its population.

Intellectual Property

Scientific and technical journal articles: In the State of Palestine, there were 533.63 scientific and technical journal articles. This is below the average of 15,103.76 articles, ranking the country 93rd out of 192 countries in this dataset.

Charges for the use of intellectual property, payments (BoP, current US$): The State of Palestine made payments totaling $647,602.58 for the use of intellectual property. This value is significantly below the average payment of $3,218,843,494.39, placing the country at the 128th rank out of 143 countries.

Charges for the use of intellectual property, receipts (BoP, current US$): The State of Palestine received $4858.19 for the use of intellectual property. This figure is also notably lower than the average receipt of $3,191,687,117.58, positioning the country at the 119th rank out of 122 countries.

Summary

The State of Palestine lags behind global averages in scientific and technical journal articles, charges for the use of intellectual property payments, and receipts. This indicates a potential gap in research and innovation capabilities, as well as a limited engagement in intellectual property transactions compared to other countries. Addressing these disparities could be crucial for fostering economic development, enhancing technological competitiveness, and attracting foreign investment in Palestine.

Broad Economy Attributes

- The GDP of State of Palestine is $15.53 billion, which is significantly below the attribute average of $442.87 billion. The country is ranked 117th out of 189 countries in terms of GDP.
- State of Palestine's GDP, PPP is $27.40 billion, considerably lower than the attribute average of $734.14 billion. The country ranks 133rd out of 181 countries in this aspect.
- In GDP per capita ($3,233.57), State of Palestine falls far below the average of $15,462.11. The country is ranked 127th out of 190 countries.
- The GDP per capita, PPP of State of Palestine is $5,705.16, well under the average of $21,251.89. The country ranks 128th out of 181 countries.
- State of Palestine's GNI sits at $18.02 billion, significantly lower than the average of $452.04 billion. The country is ranked 110th out of 185 countries.
- With a GNI, PPP of $31.80 billion, State of Palestine is notably under the average of $730.70 billion, ranking 128th out of 181 countries.
- State of Palestine's GNI per capita, PPP ($6,620) is below the average of $20,615.75. The country ranks 124th out of 181 countries.

Summary

State of Palestine's key macroeconomic indicators show that the country lags significantly behind the global average in terms of GDP, GDP per capita, GNI, and GNI per capita. These statistics highlight the economic challenges faced by State of Palestine, indicating a lower level of economic development compared to the global average. It is crucial for policymakers and stakeholders in the country to address these gaps in order to improve the standard of living and overall economic well-being of its citizens.

Broad Value Added

The Gross Value Added at Basic Prices (GVA) in current US$ for the State of Palestine is $13,152,500,000. This value is significantly below the average of $360,070,943,595.12, ranking the State of Palestine 116th out of 176 countries in the dataset.

Agriculture, forestry, and fishing value added as a percentage of GDP is 7.10% for the State of Palestine, lower than the average of 10.86%. This places the State of Palestine at a rank of 95 out of 182 countries.

The value added in Agriculture, forestry, and fishing in current US$ is $1,103,000,000 for the State of Palestine, well below the average of $19,924,732,828.07. The country ranks 126th out of 182 in this aspect.

Services value added as a percentage of GDP stands at 60.55% for the State of Palestine, higher than the average of 56.72%. This places the country at a rank of 63 out of 183 countries.

Services value added in current US$ is $9,404,700,000 for the State of Palestine, significantly lower than the average of $295,837,711,130.69. The country ranks 114th out of 183 countries in this metric.

The Industry (including construction) value added in current US$ for the State of Palestine is $2,644,800,000. This is notably lower than the average of $118,421,095,413.50, ranking the country 133rd out of 183 nations.

Summary

The State of Palestine exhibits a lower Gross Value Added at Basic Prices (GVA) and Agriculture, forestry, and fishing value added compared to global averages, positioning it at lower ranks in these aspects. However, the country has a higher Services value added as a percentage of GDP and Industry value added underscores its potential for growth and development in these sectors. These statistics are crucial as they highlight the State of Palestine's economic structure and areas that may require focus for enhancing economic prosperity and competitiveness on a global scale.

Manufacturing Value Added

The manufacturing value added in current US dollars for State of Palestine is $1,715,800,000, ranking 107 out of 173 countries. This value is significantly below the average manufacturing value added of approximately $76.21 billion.

State of Palestine's manufacturing value added as a percentage of GDP is 11.05%, ranking 90 out of 173 countries. The country falls slightly below the average of 11.90%.

The percentage of medium and high-tech manufacturing value added in State of Palestine is 7.21%, ranking 125 out of 149 countries. This value is notably lower than the average of 24.49%.

State of Palestine's share of chemicals in manufacturing value added is 4.70%, ranking 72 out of 89 countries. This percentage is lower than the average of 11.56%.

In terms of food, beverages, and tobacco in manufacturing value added, State of Palestine contributes 23.64%, ranking 36 out of 92 countries. The country's contribution is slightly below the average of 24.51%.

State of Palestine's machinery and transport equipment in manufacturing value added represent 2.14%, ranking 85 out of 93 countries. This percentage is significantly below the average of 16.85%.

The share of textiles and clothing in manufacturing value added for State of Palestine is 7.30%, ranking 25 out of 93 countries. The country's contribution is higher than the average of 6.33%.

State of Palestine's other manufacturing in manufacturing value added is 62.22%, ranking 7 out of 94 countries. This value is notably above the average of 42.13%.

Summary

State of Palestine's manufacturing sector shows a lower manufacturing value added compared to the global average across various categories such as medium and high-tech manufacturing, chemicals, machinery, and transport equipment. However, it performs relatively well in the food, beverages, and tobacco sector and excels in other manufacturing segments. These indicators are crucial as they highlight State of Palestine's strengths and weaknesses in different manufacturing areas, guiding policymakers in focusing on sectors where the country has a comparative advantage and areas needing improvement to boost economic growth and competitiveness.

Money

Inflation, consumer prices (annual %): The State of Palestine has a relatively low inflation rate of -0.74%, which is significantly below the average of 8.26%. This places the country at rank 152 out of 165 countries.

Inflation, GDP deflator (annual %): The State of Palestine's inflation rate based on GDP deflator is 2.22%, lower than the average of 6.90%. This ranks the country 86 out of 188 countries.

Broad money growth (annual %): With a broad money growth rate of 13.89%, the State of Palestine is below the average of 18.03%. It ranks 68 out of 139 countries.

Broad money (% of GDP): The State of Palestine's broad money as a percentage of GDP is 92.03%, higher than the average of 71.75%. This places the country at rank 37 out of 139 countries.

Broad money to total reserves ratio: The State of Palestine has a high ratio of broad money to total reserves at 20.51, compared to the average of 5.17. This ranks the country 6 out of 126 countries.

Summary

The State of Palestine demonstrates relatively low inflation rates compared to global averages, with a negative inflation rate in consumer prices and a lower inflation rate based on GDP deflator. However, the country exhibits higher-than-average metrics in broad money indicators, such as broad money growth, broad money as a percentage of GDP, and broad money to total reserves ratio. These indicators are essential as they reflect the stability and development of the country's financial system, its monetary policy effectiveness, and its ability to manage liquidity and reserves efficiently in the face of economic challenges.

Consumption Expenditure

Final Consumption Expenditure (current US$): State of Palestine's value is $17,418,400,000, which is significantly below the average of $381,630,252,515.38. The country ranks 102 out of 159 countries in this attribute.

Final Consumption Expenditure (% of GDP): State of Palestine's value is 112.15%, above the average of 82.37%. This places the country at rank 8 out of 159 countries.

General Government Final Consumption Expenditure (current US$): With a value of $3,639,600,000, the State of Palestine is far below the average of $93,676,578,238.03. It ranks 97 out of 158 countries.

General Government Final Consumption Expenditure (% of GDP): State of Palestine's value of 23.43% is higher than the average of 18.71%. The country is ranked 28 out of 158 countries.

Household and NPISHs Final Consumption Expenditure (current US$): The country's value of $13,778,800,000 is notably lower than the average of $290,127,571,157.69. It ranks 102 out of 158 countries.

Households and NPISHs Final Consumption Expenditure (% of GDP): State of Palestine's value is 88.71%, surpassing the average of 63.68%. The country is ranked 12 out of 158 countries in this attribute.

Summary

The State of Palestine demonstrates significantly lower final consumption expenditure in both absolute terms and as a percentage of GDP compared to the global averages. This indicates potential challenges in economic development and consumer spending within the country. These indicators are crucial as they reflect the overall economic activity and the extent of domestic consumption, which are fundamental for assessing the country's economic health and growth prospects.

Equities

1. Listed domestic companies, total: The State of Palestine has 46 listed domestic companies, which is significantly below the average of 636.625. This places the country at rank 53 out of 72 countries included in the data.

2. Stocks traded, total value (current US$): The total value of stocks traded in the State of Palestine is 190,090,000 US$, far below the average of 1,379,501,950,182.91 US$. This ranks the country at 56 out of 71 countries.

3. Stocks traded, total value (% of GDP): Stocks traded in the State of Palestine account for 1.22% of its GDP, well below the average of 31.65%. The country is ranked 45 out of 71 countries in this aspect.

4. Market capitalization of listed domestic companies (current US$): The market capitalization of listed domestic companies in the State of Palestine is 3,446,910,000 US$, significantly lower than the average of 1,196,037,851,618.88 US$. This places the country at rank 66 out of 73 countries.

5. Market capitalization of listed domestic companies (% of GDP): The market capitalization of listed domestic companies in the State of Palestine is 22.19% of its GDP, well below the average of 71.24%. The country is ranked 50 out of 73 countries in this metric.

Summary

The State of Palestine lags behind the global average in key macroeconomic indicators such as listed domestic companies, total stock value traded, and market capitalization of domestic companies. These figures reflect a relatively underdeveloped financial market in Palestine compared to other countries, indicating potential challenges in attracting investments, promoting economic growth, and enhancing financial stability in the country.

Investment

1. Foreign direct investment, net (BoP, current US$): The State of Palestine has a value of -138,848,318.03, which is above the attribute average of -1,615,235,980.51. The country ranks 64 out of 169 countries included in the data.

2. Foreign direct investment, net inflows (BoP, current US$): The State of Palestine has a value of 79,744,992.32, below the attribute average of 5,749,271,080.15. The country ranks 130 out of 182 countries.

3. Foreign direct investment, net inflows (% of GDP): The State of Palestine has a value of 0.51%, below the attribute average of 2.61%. The country ranks 136 out of 178 countries.

4. Foreign direct investment, net outflows (BoP, current US$): The State of Palestine has a value of -59,103,325.71, which is below the attribute average of 5,707,991,116.07. The country ranks 132 out of 156 countries.

5. Foreign direct investment, net outflows (% of GDP): The State of Palestine has a value of -0.38%, below the attribute average of 1.00%. The country ranks 131 out of 155 countries.

6. Portfolio Investment, net (BoP, current US$): The State of Palestine has a value of -69,128,315.77, below the attribute average of 679,559,169.57. The country ranks 101 out of 159 countries.

7. Portfolio equity, net inflows (BoP, current US$): The State of Palestine has a value of -29,000,000, much below the attribute average of 9,197,145,994.70. The country ranks 81 out of 125 countries.

Summary

The State of Palestine demonstrates below-average performance in key macroeconomic indicators related to foreign direct investment, net inflows, outflows, and overall GDP percentage. These figures suggest that the country may be facing challenges attracting and retaining foreign investments compared to other nations in the dataset. This could impact economic growth, job creation, and infrastructural development within the country, highlighting the importance of implementing strategies to improve FDI attractiveness and fostering a more stable investment environment.

Broad Trade Attributes

Trade (% of GDP): The State of Palestine has a trade value of 67.29% of its GDP, which is below the average of 82.34%. This places Palestine at rank 84 out of 163 countries in the dataset.

Trade in services (% of GDP): Palestine's trade in services is at 14.41% of its GDP, lower than the average of 24.63%. This puts Palestine at rank 90 out of 171 countries.

External balance on goods and services (current US$): The State of Palestine has an external balance of -5680400000 USD, significantly below the average of 3405509011.13 USD. Palestine ranks 141 out of 163 countries in this aspect.

External balance on goods and services (% of GDP): Palestine's external balance as a percentage of GDP is -36.57%, much lower than the average of -5.97%. This places Palestine at rank 156 out of 163 countries included in the dataset.

Summary

Palestine exhibits a higher trade dependency compared to the global average, with trade constituting a significant portion of its GDP. However, the country faces challenges with a negative external balance on goods and services, reflecting a trade deficit that may impact its overall economic stability and sustainability.

These indicators are crucial for assessing Palestine's economic resilience and ability to withstand external shocks. A high trade-to-GDP ratio may indicate vulnerability to global market fluctuations, while a negative external balance suggests potential reliance on external financing, which can pose risks to long-term economic development and stability.

Net Trade

- The Current account balance of the State of Palestine is -$1,902,805,884.62, which is below the average of $1,443,864,831.49. The country is ranked 129th out of 170 countries for this indicator.
- The Current account balance (% of GDP) for the State of Palestine is -12.25%, notably lower than the average of -2.36%. This places the country at the 148th position out of 170 countries.
- The Net trade in goods and services for the State of Palestine stands at -$5,680,064,638.17, well below the average of $2,604,730,003.57. The country ranks 148th out of 171 countries.
- In terms of Net primary income, the State of Palestine performs significantly better with a value of $2,492,298,113.01, surpassing the average of -$903,807,529.74. This positions the country at the 19th rank out of 170 countries.
- The Net secondary income for the State of Palestine is $1,284,960,640.54, much higher than the average of -$269,227,340.40, placing the country at the 54th rank out of 170 countries.
- State of Palestine's Net trade in goods amounted to -$4,782,924,873.53, below the average of $1,302,831,005.68. The country holds the 135th rank out of 171 countries.
- The Net capital account for the State of Palestine is $431,402,160.35, higher than the average of $136,543,824.05. The country ranks 26th out of 159 countries.
- Lastly, the Net financial account for the State of Palestine is -$902,765,072.71, below the average of -$469,840,994.63. The focus country is positioned at the 111th rank out of 170 countries.

Summary

The State of Palestine exhibits a mixed performance across key macroeconomic indicators. While it faces challenges such as a negative current account balance and a significant trade deficit, it excels in areas like net primary income and net secondary income. These statistics are crucial as they provide insights into the country's economic stability, trade relations, and financial health, which can guide policymakers in making informed decisions to boost the country's overall economic well-being.

Broad Export Attributes

State of Palestine's Exports of goods, services and primary income is $5,036,792,158.79, significantly below the average of $146,238,908,936.30, ranking 116th out of 170 countries.

Exports of goods and services (BoP) for State of Palestine is $2,385,203,570, also below the average of $122,938,540,059.78, ranking 130th out of 170 countries.

State of Palestine's Exports of goods and services is $2,385,300,000, below the average of $129,596,864,610.19, ranking 125th out of 163 countries.

Exports of goods and services (% of GDP) for State of Palestine is 15.36%, below the average of 38.19%, ranking 139th out of 163 countries.

State of Palestine's Goods exports amount to $1,715,101,233.80, below the average of $93,310,581,697.39, ranking 131st out of 171 countries.

ICT goods exports (% of total goods exports) is 1.15% for State of Palestine, below the average of 3.81%, ranking 56th out of 142 countries.

Summary

In summary, the State of Palestine's exports of goods, services, and primary income, as well as goods and services balance of payments (BoP), goods exports, and ICT goods exports all fall below global averages and rank lower compared to other countries. The exports as a percentage of GDP are also below average. These indicators highlight the challenges the State of Palestine faces in terms of trade competitiveness and integration into the global economy. Addressing these lower-than-average export figures is crucial for the country's economic growth, development, and sustainability.

Merchandise Exports

State of Palestine's agricultural raw materials exports account for 0.78% of its merchandise exports, ranking 96th out of 151 countries. This value is significantly below the attribute average of 2.97%.

When it comes to food exports, State of Palestine's percentage stands at 21.15%, below the average of 24.06%. It ranks 61st out of 152 countries in this aspect.

The country's fuel exports constitute only 0.11% of its merchandise exports, a vast difference from the average of 13.70%. This places State of Palestine at 127th out of 147 countries.

State of Palestine's ores and metals exports make up 10.97% of its merchandise exports, higher than the average of 9.10%. This places the country 30th out of 152 countries in this category.

Summary

State of Palestine has below-average exports of agricultural raw materials and food, ranking 96th and 61st respectively, indicating potential for growth in these sectors. Conversely, the country performs relatively better in ores and metals exports, ranking 30th, showcasing a competitive advantage in this area. These findings are crucial as they highlight areas for development and potential economic diversification for the State of Palestine.

Technology Exports

Manufactures exports (% of merchandise exports): State of Palestine has a value of 66.99%, which is above the average of 42.62%. It ranks 46 out of 152 countries.

High-technology exports (current US$): State of Palestine has a value of $11,992,939, significantly below the average of $16,655,934,078.80. It ranks 109 out of 151 countries.

High-technology exports (% of manufactured exports): State of Palestine has a value of 1.70%, well below the average of 10.15%. It ranks 122 out of 150 countries.

Medium and high-tech exports (% manufactured exports): State of Palestine has a value of 15.87%, below the average of 34.29%. It ranks 103 out of 149 countries.

Summary

In analyzing key macroeconomic indicators for the State of Palestine, it is evident that the country performs below the global average in terms of high-technology exports and the percentage of manufactured exports that are classified as medium and high-tech. These indicators reflect a need for the State of Palestine to invest more in high-tech industries to enhance its export competitiveness and economic development.

Service Exports

1. Service exports (BoP, current US$): The State of Palestine's value of $670,102,336.20 is significantly below the average of $28,917,292,503.82. The country ranks 116th out of 171 countries in this attribute.

2. ICT service exports (BoP, current US$): The State of Palestine's value of $35,853,486.43 is much lower than the average of $4,578,501,153.77. With a rank of 115 out of 166 countries, the country lags behind in this aspect.

3. ICT service exports (% of service exports, BoP): At 5.35%, the State of Palestine falls below the average of 11.75%. Ranked 110th out of 166 countries, there is room for improvement in this area.

4. Communications, computer, etc. (% of service exports, BoP): The country's value of 29.58% is lower than the average of 45.85%. With a rank of 119 out of 169 countries, the State of Palestine has more to do to catch up in this sector.

5. Transport services (% of service exports, BoP): At 1.03%, the State of Palestine is far below the average of 21.80%. The country ranks 160th out of 169 countries, indicating a significant gap in this attribute.

6. Travel services (% of service exports, BoP): The State of Palestine's value of 69.35% is well above the average of 26.40%. Ranking 12th out of 167 countries, the country excels in this particular aspect of service exports.

7. Insurance and financial services (% of service exports, BoP): With a value of 0.04%, the State of Palestine is below the average of 6.46%. Ranked 160th out of 161 countries, there is notable potential for growth in this area.

Summary

The State of Palestine's key macroeconomic indicators for service exports, ICT service exports, and various service export sectors reveal a mixed performance. While excelling in travel services, the country lags behind in ICT service exports and sectors like communications and transport services. These indicators are crucial as they highlight the country's strengths and weaknesses in diversifying its service export base, impacting its economic growth, competitiveness, and potential for foreign exchange earnings.

Commercial Service Exports

1. Commercial service exports (current US$): State of Palestine's commercial service exports amount to $646,649,612.97, significantly below the average of $28,508,218,402.80 among 171 countries. State of Palestine ranks 116th out of 171 countries in this attribute.

2. Travel services (% of commercial service exports): State of Palestine's travel services account for 71.87% of its commercial service exports, which is well above the average of 27.89% among 167 countries. State of Palestine ranks 12th out of 167 countries in this category.

3. Computer, communications and other services (% of commercial service exports): The State of Palestine's percentage of commercial service exports from computer, communications, and other services is 27.03%, lower than the average of 42.44% across 169 countries. The State of Palestine ranks 113th out of 169 countries in this aspect.

4. Insurance and financial services (% of commercial service exports): State of Palestine has a minimal contribution from insurance and financial services, constituting only 0.04% of its commercial service exports. This is significantly below the average of 6.97% among 161 countries, placing State of Palestine at the 160th position out of 161 countries.

5. Transport services (% of commercial service exports): In terms of transport services as a percentage of commercial service exports, State of Palestine stands at 1.06%, a figure much lower than the average of 23.37% across 169 countries. The State of Palestine holds the 161st rank out of 169 countries in this category.

Summary

The State of Palestine demonstrates a significant reliance on travel services, with travel services accounting for a high percentage of its commercial service exports compared to the global average. However, the country lags behind in other key sectors such as computer, communications, and other services, insurance, financial services, and transport services. These indicators are crucial as they highlight the State of Palestine's specialization in certain service sectors while indicating areas that may require further development to enhance economic diversification and competitiveness in the global market.

Broad Import Attributes

State of Palestine's imports of goods and services (current US$) amount to $8,065,700,000, ranking 102 out of 163 countries. This value is below the average of $126,191,355,599.06.

Imports of goods and services (% of GDP) for State of Palestine is 51.93%, positioning it at rank 44 out of 163 countries. The country surpasses the average of 44.15%.

State of Palestine's international tourism expenditures (% of total imports) stand at 7.03%, securing the 17th rank out of 131 countries. This value exceeds the average of 3.98%.

The country's ICT goods imports (% total goods imports) are at 3.90%, ranking 101 out of 143 countries. This value falls below the average of 6.85%.

State of Palestine's goods imports (BoP, current US$) total $6,498,026,107.33, placing it at 101 out of 171 countries. This amount is below the average of $92,007,788,027.17.

Imports of goods and services (BoP, current US$) for State of Palestine amount to $8,065,268,208.17, ranking 104 out of 170 countries. This value is below the average of $120,321,577,988.12.

State of Palestine's imports of goods, services, and primary income (BoP, current US$) reach $8,224,558,683.96, positioning it at rank 107 out of 170 countries. This amount falls below the average of $144,514,428,722.28.

Summary

State of Palestine demonstrates a consistent trend of below-average imports across various categories, including goods and services, ICT goods, and international tourism expenditures. Despite its lower import levels, the country maintains a relatively high percentage of imports compared to its GDP. These indicators suggest that State of Palestine may have limited external trade diversification and potentially relies heavily on imports to meet domestic demand.

Merchandise Imports

Manufactures imports (% of merchandise imports): The State of Palestine's value of 46.84% is below the average of 66.76%. This places the State of Palestine at a rank of 147 out of 152 countries in the dataset.

Agricultural raw materials imports (% of merchandise imports): The State of Palestine's value of 0.62% is below the average of 1.27%. This places the State of Palestine at a rank of 124 out of 152 countries in the dataset.

Food imports (% of merchandise imports): The State of Palestine's value of 33.69% is above the average of 15.89%. This places the State of Palestine at a rank of 3 out of 152 countries in the dataset.

Fuel imports (% of merchandise imports): The State of Palestine's value of 16.84% is above the average of 11.38%. This places the State of Palestine at a rank of 25 out of 152 countries in the dataset.

Ores and metals imports (% of merchandise imports): The State of Palestine's value of 2.01% is below the average of 2.57%. This places the State of Palestine at a rank of 66 out of 152 countries in the dataset.

Merchandise imports by the reporting economy, residual (% of total merchandise imports): The State of Palestine's value of 0.0008% is significantly below the average of 2.51%. This places the State of Palestine at a rank of 171 out of 180 countries in the dataset.

Summary

The State of Palestine shows a consistent pattern of lower imports in Manufactures, Agricultural raw materials, and Ores and metals compared to the global averages. However, it imports a higher percentage of Food and Fuel compared to the average. The country's heavier reliance on food and fuel imports signifies potential vulnerabilities in food security and energy sources, highlighting areas that may require strategic attention for long-term sustainability and economic stability.

Service Imports

State of Palestine has a Service imports (BoP, current US$) value of 1,567,242,100.84. This is significantly below the attribute average of 27,615,356,170.47. The country ranks 107 out of 171 countries in this dataset.

For Communications, computer, etc. (% of service imports, BoP), State of Palestine's value is 10.46%, well below the average of 44.40%. The country ranks 164 out of 169 countries in this dataset.

State of Palestine's Transport services (% of service imports, BoP) value stands at 14.49%, also below the average of 32.90%. The country ranks 158 out of 169 countries.

Travel services (% of service imports, BoP) in State of Palestine constitute 72.77%, significantly higher than the average of 14.14%. The country holds the top rank out of 169 countries in this attribute.

Insurance and financial services (% of service imports, BoP) in State of Palestine account for 2.28%, below the average of 8.53%. The country ranks 153 out of 169 countries in this metric.

Summary

State of Palestine has low levels of service imports compared to the global average, ranking relatively low in the dataset. The country shows a unique reliance on travel services as a significant portion of its service imports, leading to a top rank in this category.

These findings are important as they highlight State of Palestine's trade dynamics and economic specialization within the service sector. The low percentages in communications, computer, and transport services could indicate areas for potential growth and development to diversify the country's service import portfolio and enhance its economic resilience.

Commercial Service Imports

Commercial service imports in State of Palestine amount to $1.53 billion, ranking 104 out of 171 countries included in the data. This is significantly below the attribute average of $27.10 billion.

Computer, communications, and other services account for 8.61% of State of Palestine's commercial service imports. This places the country at rank 159 out of 169 countries. The percentage is notably lower than the attribute average of 41.71%.

Insurance and financial services make up 2.33% of State of Palestine's commercial service imports, ranking the country 155 out of 169. This percentage is well below the attribute average of 8.85%.

Transport services represent 14.79% of commercial service imports in State of Palestine, placing the country at rank 158 out of 169. This percentage is lower than the attribute average of 34.71%.

Travel services contribute significantly to State of Palestine's commercial service imports, accounting for 74.28%. This high percentage ranks the country 1st out of 169, well above the attribute average of 14.73%.

Summary

The State of Palestine heavily relies on travel services, which account for a significant portion of its commercial service imports at 74.28%. This dominance in travel services is unparalleled, with Palestine ranking 1st out of 169 countries for this category. However, the country lags behind in other service sectors such as computer, communications, and financial services. Diversifying and strengthening these sectors could help improve the country's overall economic resilience and reduce its dependency on a single service category.

Information Technology Infrastructure

When looking at Secure Internet servers, the State of Palestine has 2573 servers, which is significantly below the average of 458,294. The country ranks 93 out of 193 countries in this dataset.

For Secure Internet servers (per 1 million people), the State of Palestine has 535.68 servers, notably lower than the average of 14,067.17. With a rank of 89 out of 193 countries, the State of Palestine is below average in this aspect.

Regarding Individuals using the Internet (% of population), the State of Palestine has 76.01% of its population online, higher than the average of 64.77%. This places the country at rank 80 out of 180 countries.

Looking at Fixed broadband subscriptions, the State of Palestine has 376,911 subscriptions, well below the average of 6,591,956. The country's rank is 97 out of 185 countries in this category.

For Mobile cellular subscriptions, the State of Palestine has 4,062,334 subscriptions, significantly lower than the average of 42,526,463. With a rank of 128 out of 193 countries, the State of Palestine falls below the average for mobile subscriptions.

Summary

The State of Palestine demonstrates lower-than-average performance in key macroeconomic indicators related to internet infrastructure and access. This includes a low number of secure internet servers per 1 million people, fixed broadband subscriptions, and mobile cellular subscriptions. However, the country does show a higher-than-average percentage of its population using the internet. These statistics are important as they highlight the existing digital divide within the country, indicating areas that may require further investment and development to improve connectivity and access to information and communication technologies.

Energy Consumption

State of Palestine's renewable energy consumption is 15.02% of total final energy consumption, which is below the attribute average of 32.18%. The country ranks 121st out of 191 countries included in the data.

Summary

State of Palestine's renewable energy consumption is below the global average at 15.02%, ranking 121st out of 191 countries. This low percentage indicates a significant reliance on non-renewable energy sources, potentially leading to energy security and environmental sustainability challenges.

Government Balance Sheet

State of Palestine's net acquisition of financial assets is 1.95% of GDP, slightly below the average of 2.45%. This places State of Palestine at rank 38 out of 87 countries.

For net incurrence of liabilities, State of Palestine's value is 6.05% of GDP, below the average of 7.43%. This ranks State of Palestine at 53 out of 92 countries.

State of Palestine's reserves and related items amount to $37,235,474.87, significantly lower than the average of $1,924,417,186.58. State of Palestine ranks 83 out of 171 countries in this aspect.

State of Palestine's total reserves minus gold stand at $697,074,683.28, contrasting the average of $74,221,588,171.61. This places State of Palestine at rank 132 out of 161 countries.

Regarding total reserves including gold, State of Palestine's value matches the previous amount of $697,074,683.28, significantly below the average of $85,708,019,773.47. State of Palestine ranks 134 out of 161 countries in this regard.

State of Palestine's total reserves in months of imports is 1.02, substantially lower than the average of 7.10. This rank State of Palestine at 140 out of 151 countries.

Summary

State of Palestine's net acquisition of financial assets and incurrence of liabilities are below global averages, indicating a conservative approach to financial management. The country's reserves and related items, total reserves minus gold, total reserves including gold, and total reserves in months of imports are all significantly lower than the respective international benchmarks, suggesting potential vulnerabilities in terms of liquidity and economic stability.

These findings are important as they reflect State of Palestine's comparative position in the global economy, highlighting areas where the country may need to strengthen its financial strategies and reserves management to enhance economic resilience and sustainability in the face of external shocks or economic challenges.

Government Revenue

Revenue, excluding grants (% of GDP): The State of Palestine's value is 22.72% of GDP, which is below the average of 27.02%. The country ranks 72 out of 122 countries.

Grants and other revenue (% of revenue): State of Palestine's value is 19.82% of revenue, lower than the average of 23.54%. It is ranked 42 out of 108 countries.

Taxes on goods and services (% of revenue): The country's value is 42.14%, higher than the average of 31.82%. State of Palestine ranks 22 out of 122 countries.

Taxes on international trade (% of revenue): State of Palestine's value is 32.52%, significantly higher than the average of 6.24%. The country ranks 2 out of 101 countries.

Other taxes (% of revenue): The State of Palestine's value is 1.74%, below the average of 2.12%. It is ranked 38 out of 106 countries.

Taxes on income, profits, and capital gains (% of revenue): The country's value is 3.78%, much lower than the average of 24.66%. State of Palestine ranks 115 out of 119 countries.

Summary

The State of Palestine has a relatively low revenue, excluding grants, as a percentage of its GDP compared to the global average. However, it relies more heavily on taxes on goods and services and international trade for revenue, both of which exceed the global averages significantly. This indicates a potential vulnerability to external economic shocks due to its high reliance on international trade taxes and relatively low revenue diversification. Diversifying revenue sources and increasing overall revenue as a percentage of GDP could help strengthen the country's economic resilience.

Taxes

- Tax revenue (% of GDP): The State of Palestine's tax revenue as a percentage of GDP is 20.85%, which is above the average of 16.72%. This places Palestine at rank 34 out of 123 countries in the dataset.

- Customs and other import duties (% of tax revenue): Palestine's value for customs and other import duties as a percentage of tax revenue is notably high at 40.56%, significantly surpassing the average of 9.01%. This places Palestine at an impressive rank of 3 out of 99 countries.

- Taxes on income, profits and capital gains (% of total taxes): In terms of taxes on income, profits, and capital gains as a percentage of total taxes, Palestine's value of 4.72% is below the average of 38.40%. This places Palestine at rank 119 out of 120 countries in the dataset.

Summary

The State of Palestine demonstrates a strong reliance on tax revenue, with a percentage of GDP at 20.85%, above the global average. However, the country's heavy dependence on customs and import duties, comprising 40.56% of tax revenue, indicates a vulnerability to external trade dynamics. Moreover, the low contribution of 4.72% from taxes on income, profits, and capital gains, compared to the global average, may suggest limited diversification in revenue sources and potential challenges in stimulating economic growth through taxation.

Government Expenses

Expense (% of GDP): State of Palestine's expense as a percentage of GDP is 29.23%, which is slightly below the average of 31.69%. The country ranks 69th out of 123 countries in this attribute.

Compensation of employees (% of expense): State of Palestine allocates 50.23% of its expenses to employee compensation, far exceeding the average of 24.70%. This places the country at an impressive 4th rank out of 123 countries.

Goods and services expense (% of expense): State of Palestine spends 17.59% of its expenses on goods and services, slightly above the average of 14.77%. The country holds the 37th rank out of 122 countries.

Interest payments (% of expense): State of Palestine's interest payments account for 2.69% of its expenses, significantly lower than the average of 6.85%. This places the country at the 86th rank out of 121 countries.

Other expense (% of expense): The country allocates 1.03% of its expenses to other costs, well below the average of 8.29%. State of Palestine ranks 109th out of 120 countries in this aspect.

Subsidies and other transfers (% of expense): State of Palestine dedicates 28.46% of its expenses to subsidies and transfers, notably lower than the average of 43.29%. The country holds the 92nd rank out of 121 countries.

Summary

State of Palestine exhibits a conservative approach to fiscal management with its expense as a percentage of GDP below the global average. The country's focus on compensating employees, allocating a high percentage of expenses for this purpose, underscores its commitment to human capital development. However, its relatively lower spending on interest payments and other costs compared to the average signifies efficient financial management and prudent resource allocation.

These indicators are crucial as they reveal how State of Palestine prioritizes its expenditure, highlighting areas of strength such as human capital investment and financial efficiency. Understanding these patterns can provide insights into the country's economic priorities, fiscal sustainability, and overall development strategy.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Other manufacturing (% of value added in manufacturing)	7/94
Broad money to total reserves ratio	6/126
Final consumption expenditure (% of GDP)	8/159
Households and NPISHs final consumption expenditure (% of GDP)	12/158
Travel services (% of service exports, BoP)	12/167
Travel services (% of commercial service exports)	12/167
Food imports (% of merchandise imports)	3/152
Travel services (% of service imports, BoP)	1/169
Travel services (% of commercial service imports)	1/169
Taxes on international trade (% of revenue)	2/101
Customs and other import duties (% of tax revenue)	3/99
Compensation of employees (% of expense)	4/123

Ranks in Bottom Decile For:

Attribute	Rank/Total
Death rate, crude (per 1,000 people)	184/192
Forest area (sq. km)	175/191
Charges for the use of intellectual property, receipts (BoP, current US$)	119/122
Machinery and transport equipment (% of value added in manufacturing)	85/93
Inflation, consumer prices (annual %)	152/165
Market capitalization of listed domestic companies (current US$)	66/73
External balance on goods and services (% of GDP)	156/163
Transport services (% of service exports, BoP)	160/169
Insurance and financial services (% of service exports, BoP)	160/161
Insurance and financial services (% of commercial service exports)	160/161
Transport services (% of commercial service exports)	161/169
Manufactures imports (% of merchandise imports)	147/152
Merchandise imports by the reporting economy, residual (% of total merchandise imports)	171/180
Communications, computer, etc. (% of service imports, BoP)	164/169
Transport services (% of service imports, BoP)	158/169
Insurance and financial services (% of service imports, BoP)	153/169
Computer, communications and other services (% of commercial service imports)	159/169
Insurance and financial services (% of commercial service imports)	155/169
Transport services (% of commercial service imports)	158/169
Total reserves in months of imports	140/151
Taxes on income, profits and capital gains (% of revenue)	115/119
Taxes on income, profits and capital gains (% of total taxes)	119/120
Other expense (% of expense)	109/120