Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: For the first time in over two months, close to 87 aid trucks enter Gaza.
United States: One of the two people killed in the Washington shooting is believed to be an Israeli embassy employee.
United States: Two people killed in shooting near the Jewish Museum in Washington, D.C.
Occupied Palestine: A fire broke out in the courtyard of Al-Awda Hospital in the Tal al-Zaatar neighborhood in northern Gaza after IOF fired directly at diesel tanks.
Israeli ambulance: A settler was injured while running to shelter after a rocket was fired from Yemen, and the sirens were activated.
Occupied Palestine: The IOF besieges Al-Awda Hospital in Tal al-Zaatar, north of Gaza, with 160 people inside, including medical personnel and wounded.
Occupied Palestine: IOF: A missile was detected and launched from Yemen, and air defense systems were activated.
Lebanese Health Ministry: One martyr, one wounded in IOF strike on Yater, South Lebanon.
Palestinian sources: Arab-European committee including 30 ambassadors, consuls came under fire by occupation forces in Jenin Refugee Camp, northern West Bank.
Pope Leo XIV: I renew my heartfelt appeal to allow the entry of sufficient humanitarian aid [into Gaza] and to put an end to the hostilities

Gaza’s GDP plummeted by over 80% amid Israeli genocide

  • By Al Mayadeen English
  • Source: Agencies
  • 14 Jan 2025 10:29
4 Min Read

The report highlights how settlement expansion, land usurpation, demolitions, and increased settler violence in 2023-2024 displaced communities and disrupted economic activities.

Listen
  • x
  • Gaza’s GDP plummeted by over 80 percent amid 'Israel's' genocide
    A destroyed part of Gaza City are seen from southern occupied Palestine on January 2, 2025. (AP)

Recent data from the Palestinian Central Bureau of Statistics (PCBS) show that the Gaza Strip's gross domestic product (GDP) has fallen by more than 82%, amid "Israel's" ongoing devastating campaign against Palestinians in the area.

The statistics, detailing the economic outlook for 2024, revealed that unemployment in the Gaza Strip has reached 80%, impacting a significant portion of the population, many of whom were daily wage workers, government employees in Gaza, or affiliated with the Palestinian Authority.

The data also showed that most economic activities across the occupied Palestinian territories declined significantly in 2024 compared to the previous year.

Construction activity in the Gaza Strip saw a dramatic decline of 98%, totaling $332 million, while industrial activity dropped by 90% and agricultural activity fell by 91%. Additionally, the services sector fell by 81%, reflecting a sharp and unprecedented drop in the history of economic and commercial domains. 

Read next: How 'Israel's' genocide shattered Gaza, West Bank economies: Report

During the brutal Israeli assault on the Gaza Strip, which began on October 7, 2023, most commercial activities were halted during the early days of the war as Israeli forces targeted industrial, commercial, and economic facilities with airstrikes and ground offensives.

Related News

Gaza Resistance launch rockets toward Askalan, Asdod amid fighting

King’s College Cambridge divests from Israeli-linked arms companies

The Gaza Strip has faced a prolonged Israeli blockade, causing rising poverty and unemployment, which has led to increased deprivation, with daily income falling to about $1. Additionally, food insecurity has worsened, with approximately 80% of the population reliant on aid from international and relief organizations.

The Israeli military has blocked the entry of numerous materials and goods into the Gaza Strip, claiming that Palestinian Resistance factions in military industries could use them. This has deprived the industrial sector of essential raw materials, leading to the closure of many factories.

As the war enters its second year with alarming negative trends, the economic and commercial future of the Gaza Strip, along with its industrial sector, seems uncertain and daunting due to the widespread destruction of infrastructure.

60% of Gaza’s families homeless

The Ministry of Public Works and Housing in the Gaza Strip reported on Sunday that over 60% of families in the coastal region are homeless due to the ongoing Israeli genocidal war, which has persisted for more than 15 months. 

The ministry said, "The extent of the destruction in this war is beyond the ability of any party to deal with it quickly and directly,” adding that the destructive power of the massive obliteration of residential neighborhoods is several times greater than the damage caused by the 51-day Israeli aggression in 2014.

It is estimated that tens of millions of tons of rubble remain after the destruction of cities, residential blocks, and neighborhoods.

The ministry further emphasized that clearing the debris is the key first step in Gaza's reconstruction. This process involves demolishing structures that pose a risk to public safety, repairing and maintaining damaged buildings, and protecting nearby buildings and streets during demolition and debris removal.

The ministry’s report, based on an evaluation of the effects of Israeli aggression, stated that dozens of heavy machines suitable for the scale of the task need to be brought in. This is because local equipment, much of which was damaged or destroyed in "Israel’s" bombing of government, municipal, and civil facilities, is no longer functional for rubble removal.

  • Israeli aggression
  • Israel
  • Israel genocide
  • Palestine
  • Gaza Strip
  • Gaza GDP

Most Read

YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025
Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

  • MENA
  • 17 May 2025
Martyrs, injuries in violent Israeli bombardment of southern Gaza

Israeli operation fails; IOF launch violent strikes on Gaza

  • Politics
  • 19 May 2025
Rachel Accurso criticized for speaking out on Gaza children crisis

Ms. Rachel accused of antisemitism for speaking out for Gaza children

  • Politics
  • 20 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Gulf investments quietly boosted Elon Musk and family fortunes
US & Canada

Gulf investments quietly boosted Elon Musk and family fortunes

A 3D render of China's planned 'drone mothership' Credit: X/@XH_Lee23
US & Canada

China unveils drone mothership capable of swarm attacks

Relatives of Venezuelan migrants deported by the US to a Salvadoran prison protested outside the UN building in Caracas on April 9, 2025 (AP)
US & Canada

At least 50 migrants deported to El Salvador prison entered US legally

A city bus goes by the historic city of Santiago, Spain during a major power outage across Spain and Portugal on April, 28, 2025. (AP Photo/Mic Smith)
Europe

Spain hit by major phone network outage weeks after nation blackout

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS