The Palestinian Ministry of Finance estimates that the Israeli occupation of the West Bank cost its economy $6.89 billion in 2010. The UN partly financed the study, which stated that were it not for the occupation, the Palestinian economy would be nearly double its actual size.
However, $3.8 billion of the economic losses, 55% of the total, are attributed to indirect costs, which cannot be verified due to a lack of data.
The Palestinians accuse Israel of policy measures designed to hinder their access to resources and sources of production, and of imposing unwarranted restrictions intended to prevent economic growth. They also claim that Israel prevents access to international markets and seeks to break up Palestinian territory into small, isolated cantons that hinder reciprocal relations between them.
The Palestinian Ministry of Finance estimates the cost of Israel's blocking access to resources at $4.5 billion, 56% of the Palestinian's GDP. It also says that Israel exploits the Palestinians' natural resources, including land, water, and quarries.
The Palestinian Ministry of Finance also estimates the cost of the blockade of the Gaza Strip at $1.9 billion, 24% of the Palestinian GDP. It says that the blockade has "caused the collapse of the Palestinian economy".
The Palestinians also claim a $1.9 billion loss caused by Israel's restrictions on their access to water sources, a $1.1 billion loss by Israel's blocking access to Dead Sea minerals, and a $600 million loss from the lack of access to the offshore natural gas discoveries in Israeli waters in recent years.
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011