Palestinian trade deficit widens by 17% amid deepening dependence on the occupation economy

Official data issued by the Palestinian Central Bureau of Statistics revealed a 17% jump in the trade deficit during last February compared to the same period of the previous year. This increase comes as a result of the widening gap between the values of exports and imports, in light of complex economic conditions imposed by the reality of the occupation on the movement of goods.

The sources explained that the value of the deficit in the trade balance reached about 551.1 million dollars, which confirms the continued pressure on the local economy. This structural imbalance is due to the almost complete reliance on the Israeli market, which controls most Palestinian trade exchanges, up and down.

Regarding export movement, Palestinian exports recorded a growth of 31% to settle at 181.1 million dollars, but this growth was mainly confined to the relationship with the Israeli side. Exports directed to the occupation increased by 37%, accounting for 93% of the total Palestinian export basket alone.

On the other hand, the figures showed a worrying decline in the ability to access global markets, as exports to other countries of the world decreased by 19%. This decline reflects the limited diversity of Palestinian trading partners, and the difficulty of overcoming logistical and political obstacles that prevent access to international markets.

As for imports, they also recorded an annual increase of 20%, reaching a total value of 732.2 million dollars during February. Purchases from the Israeli market contributed to deepening this increase, as imports from the occupation grew by 34% to constitute two-thirds of the total imported by Palestinians.

In contrast, imports from the rest of the world witnessed only a slight increase not exceeding 1%, which reinforces the hypothesis of forced dependence on the occupation economy. These percentages show that the local market remains hostage to Israeli suppliers, with the absence of strong commercial alternatives capable of competing with goods coming through crossings controlled by the occupation.

These statistical indicators confirm the continued Israeli occupation's dominance over the joints of Palestinian foreign trade, both in terms of exports and imports. Experts warn that the continuation of the trade structure in this way weakens Palestinian economic independence and makes local markets vulnerable to direct Israeli fluctuations and policies.

The trade deficit reached 551.1 million dollars during February, reflecting the continued Israeli dominance over the structure of Palestinian foreign trade.