Palestinian industrial production plummets due to Israel war

Palestinian industrial production plummets due to Israel war
Palestinian industrial production plummets due to Israel war

The Central Bureau of Statistics (PCBS) specified in a statement that the decrease was 0.44 percent compared to February.

He detailed that the activities of water supply, sanitation, waste management and treatment registered a decrease of 9.77 percent and the supply of electricity and gas 7.23 percent.

The manufacturing of metal products, printing activity, the manufacturing of basic pharmaceutical products, chemicals and paper also fell.

The PCBS report coincides with the publication of an updated report by the United Nations Development Program and the Economic and Social Commission for Western Asia on poverty and the Palestinian economy in the wake of Israeli aggression.

According to the document from both organizations, the poverty rate in the Gaza Strip and the West Bank increased to 58.4 percent. Due to the conflict in the coastal enclave, Palestine suffered a 26.9 percent drop in its Gross Domestic Product (GDP), which represents a loss of seven thousand 100 million dollars, they warned.

Each additional day that this conflagration continues generates enormous costs and aggravates the situation for all Palestinians, but especially for the inhabitants of that coastal enclave, they stressed.

Recently, the World Bank indicated that direct damage inflicted on infrastructure in Gaza until last January amounted to about $18.5 billion.

The Central Statistics Office revealed in late March that Palestinian GDP fell 29 percent in the fourth quarter of 2023 due to the destruction caused by Israel in that territory.

For its part, the press office of the Gazan Government revealed in the middle of that month that the direct damages and losses recorded by the Israeli aggression on the territory amount to about 30 billion dollars.

jf/rob

 
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