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You are hereEconomical and Social Monitor , 26
Gross Domestic Product: The Palestinian GDP grew by 7.1% between the first and second quarter of 2011. Moreover, GDP per capita increased by 6.3% in the second quarter 2011 compared to the previous quarter, and increased by 10.6% compared with the second quarter 2010.
The labour market: The number of workers in the West Bank and Gaza increased from 780.2 thousand in the first quarter to 852.4 thousand in the second quarter of 2011. Distribution of workers by region is as follows: 60.7% in the West Bank, 29.4% in the Gaza Strip, and 9.9% in Israel and Israeli settlements. The unemployment rate decreased from 21.7% in the first quarter to 18.7% in second quarter of this year. Furthermore, the average wage of workers in the Gaza Strip increased by some 6% in the second quarter 2011 when compared to with the corresponding quarter in 2010. Consequently, the average daily wage rose to 61.8 NIS; up from 58.1 NIS in the second quarter of 2010.
Public Finance: Net domestic revenues decreased to $537 million in the second quarter 2011, a drop of 8.8% from the previous quarter. Additionally, public expenditures increased to $745 million in the second quarter 2011, an increase of 10% from the first quarter. The combination of these two factors increased the second quarter budget deficit to $208.2 million, compared with the $89 million budget shortfall in the first quarter of 2011.
The banking sector: The net assets of banks operating in the Palestinian territories (18 banks) were up by 1.2% from the first quarter 2011. Total direct credit facilities accounted for $3.4 billion, an increase of 11% when compared to the first quarter of 2011.
Palestine Securities Exchange: At 72 million, the number of shares traded during the second quarter of 2011 rose 45% when compared to the previous quarter. Moreover, the value of shares traded increased by 57% during the same period. At the end of the second quarter of 2011 the Al-Quds index closed at 492.71 points, a decline of 4.96 points from the first quarter 2011.