West Bank and Gaza Current Account Balance
Current account balance as % of GDP BN.CAB.XOKA.GD.ZS
West Bank and Gaza's current account balance was -21.14% in 2024, ranked 5th globally. This represents a 62.5% decrease from 2023. Data from World Bank, covering 1994–2024.
Overview
West Bank and Gaza's current account balance stood at -21.14% in 2024, a decline of +8.13% from 2023. West Bank and Gaza ranked 5th globally.
West Bank and Gaza’s current‑account balance has remained persistently negative, registering a deficit of –21.14 billion US dollars in 2024, which placed the economy at the fifth‑worst position globally among the 31‑year series. The balance improved dramatically from its all‑time trough of –41.78 in 1996, yet it has never matched the brief surplus of 5.21 recorded in 2008 during a period of heightened external financing and remittance inflows. Compared with peer economies of similar rank, the deficit is marginally narrower than Palau’s –22.23 and broader than Bhutan’s –20.01, underscoring a modest but persistent external gap. The long‑run trajectory suggests that without substantial increases in export earnings, foreign direct investment, or remittance growth, the current‑account deficit is likely to linger near the 2024 level, although a sustained uplift in non‑oil services and tourism could shift the balance toward modest surpluses.
Data & projection
| Year | Current Account Balance | YoY change | Rank |
|---|---|---|---|
| 2024 | -21.14% | −8.13% | #5 |
| 2023 | -16.22% | −5.60% | #14 |
| 2022 | -10.63% | −0.81% | #34 |
| 2021 | -9.82% | +2.43% | #34 |
| 2020 | -12.25% | −1.87% | #28 |
| 2019 | -10.39% | +2.77% | #27 |
| 2018 | -13.15% | +0.06% | #19 |
| 2017 | -13.21% | +0.70% | #16 |
| 2016 | -13.91% | −0.03% | #19 |
| 2015 | -13.88% | −0.29% | #23 |
| 2014 | -13.59% | +1.19% | #18 |
| 2013 | -14.77% | +0.14% | #18 |
| 2012 | -14.92% | +3.58% | #21 |
| 2011 | -18.50% | −5.00% | #14 |
| 2010 | -13.50% | +0.56% | #25 |
Detected Pattern
Analysis
West Bank and Gaza matched the Export Boom Cycle pattern in 2008. Historically, 71% of countries showing this pattern (546 out of 768) saw current account balance improve within 24 months. View full analysis →
Frequently Asked Questions
West Bank and Gaza's current account balance was -21.14% in 2024. Ranked 5th globally. This represents a 62.5% decrease from the previous year.
West Bank and Gaza's current account balance peaked at 5.21% in 2008.
The lowest current account balance in West Bank and Gaza was -41.78% in 1996.
West Bank and Gaza ranks 5th globally in current account balance as of 2024.
The World Bank indicator code is BN.CAB.XOKA.GD.ZS. Data sourced from World Bank.
The current account balance of West Bank and Gaza in 2024 was -21.14%. This ranks 5th in the world.
Cite this page
@misc{historysaid_west-bank-and-gaza_current-account,
title = {West Bank and Gaza Current Account Balance},
url = {https://historysaid.com/west-bank-and-gaza/current-account/},
publisher = {HistorySaid},
year = {2026}
}