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Gaza's Economy Plummets: 87% Decline Amid War

12/3/2025

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Summary

Story summary

Gaza's economy has collapsed, with average income falling from nearly US$2,000 in 2007 to US$161 annually.
The ongoing war has accelerated this decline, shrinking the economy by 87% over the past two years.
Damage from Israeli airstrikes is estimated at US$18.5 billion.
Hospitals and schools are non-functional due to the devastated infrastructure.
The Palestinian Authority has lost around US$1.8 billion in tax revenues since 2019.

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Story summary

Gaza's economy has collapsed, with average income falling from nearly US$2,000 in 2007 to US$161 annually.
The ongoing war has accelerated this decline, shrinking the economy by 87% over the past two years.
Damage from Israeli airstrikes is estimated at US$18.5 billion.
Hospitals and schools are non-functional due to the devastated infrastructure.
The Palestinian Authority has lost around US$1.8 billion in tax revenues since 2019.