Palestinian losses due to Israeli blockade at $2.55 billion
Palestine, Economics, 9/8/1997

An official report estimated the Palestinian losses caused by Israeli blockades since the beginning of this year at $2.55 billion or $8.5 million a day. The report mentioned the losses of the previous years as follows; $1.36 billion in 1993, $1.52 billion in 1994, and $1.6 billion last year, which indicates that the losses are increasing even as Israel maintains a current closure of the self-rule areas.

The report mentioned the direct effects of the Israeli blockade on the Palestinian industrial sectors through delaying the arrival of the raw materials, through holding the cargo in the ports, through imposing restrictions on the freedom of the movement of individuals and commodities, and through dumping the Palestinian markets with spoiled products.

The number of Palestinian laborers in Israel was 116 thousand in 1996 which gradually decreased as a result of the blockade to reach 32 thousand now, resulting in raising the rate of unemployment from 5% in 1995 to 28% in 1996 and to 60% during blockade periods. The share of the Palestinian individual of the national gross product was $2,683 in 1992 but dropped to $ 1,726 last year.

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