Palestinian Central Bureau of Statistics (PCBS) stated Tuesday that the Gross Domestic Product (GDP) grew by 2.6% in the third quarter of 2004, compared to the second quarter of 2004.
In a press release issued Tuesday about the Main Estimates for the GDP in the third quarter of 2004, PCBS said that the GDP estimates have substantially increased during the third quarter of 2004 by 2.6% compared with the second quarter of the same year while they show a decline of 0.1% compared to the third quarter of the year 2000 at constant prices."
"This growth in the third quarter of the year 2004 compared to the second quarter of the same year was as a result of the growth in the main economic activities within the available short term indicators for each activity. There was growth in the Construction, Wholesale and Retail trade, Transport, Hotels, and Financial Intermediation in addition to the Real Estate and business services", PCBS added.
Concerning Performance of Main Economic Activities during the third quarter of 2004 compared to both the second quarter of the year 2004 and the same quarter of the year 2000 was as follows, PCBS reported that the gross value added for Mining, Manufacturing, Electricity and Water Supply in Remaining West Bank and Gaza Strip declined during the third quarter 2004 compared to the second quarter of the year 2004 by 8.5%, while it declined by 20.6% compared to the third quarter of the year 2000.
The gross value added for Agriculture activity declined by 5.3% during the third quarter 2004 in relation to the second quarter, while it grew by 18.0% compared with the parallel quarter of the year 2000.
The gross value added for Construction activity grew by 13.0% during the third quarter of the year 2004 compared to the second quarter, while this activity's performance is still far from its position during the third quarter 2000 since it witnisses a substantial decrease of 57.8%.
The gross value added for Transport increased during the third quarter of the year 2004 by 6.5% compared to the second quarter of 2004. On other hand this activity had a substantial growth of 34.0% compared to the third quarter of the year 2000.
The gross value added for Financial Intermediation activity grew by 1.0% during the third quarter 2004 compared to the second quarter of the year 2004, while it declined substantially by 25.0% compared to the third quarter of the year 2000.
The gross value added grew for Wholesale and Retail Trade by 2.2% compared to the second quarter of the year 2004, however this activity recorded a growth of 13.7% compared to the same quarter of the year 2000.
