Gaza:Geneva: Gaza is currently experiencing the most severe economic crisis globally, with a staggering 92% of its economic establishments either damaged or destroyed and over 90% of the working-age population unemployed.
According to Palestine News and Information Agency WAFA, the United Nations Conference on Trade and Development (UNCTAD) presented a report at the Trade and Development Board in Geneva, detailing the dire developments in the economy of the Occupied Palestinian Territory. The report estimates the cost of Gaza's recovery and reconstruction needs at $71.5 billion.
UNCTAD Acting Secretary-General Pedro Manuel Moreno highlighted that Gaza's economic collapse represents the most severe crisis ever recorded. The report notes that since October 2023, 92% of Gaza's economic infrastructure has suffered damage. The region's GDP per capita in 2025 was only $212, translating to about $0.58 per person per day, which is merely 17% of its 2022 level. Unemployment hit 78%, with over 90% of the working-age population lacking employment.
The report further illustrates that all productive sectors in Gaza remain significantly below their 2022 output levels. Both agricultural and industrial productions plummeted by 94%, while construction saw a 99% decline. With less than 1.5% of Gaza's cropland accessible and intact, reliance on humanitarian food assistance has increased.
Mutasim Elagraa, UNCTAD Coordinator for Assistance to the Palestinian People, pointed out that while two-thirds of Gaza's population lived in poverty before the conflict, the entire population now experiences multidimensional poverty.
The report also highlights the loss of hundreds of thousands of jobs since October 2023, with a cumulative labor income loss estimated at $2.8 billion. Physical infrastructure damage is estimated at $35.2 billion, with economic and social losses at $22.7 billion. Total recovery and reconstruction needs stand at $71.5 billion, with potential increases if further damage occurs.
Additionally, the report addresses the worsening financial situation in the occupied West Bank, attributing it to reduced access to land and natural resources linked to Israeli settlement expansion and rising displacement.