Gaza's gross domestic product (GDP) has contracted by 86 percent year on year in the first three months of 2024 amid intensifying Israeli attacks, according to data released by Palestinian Central Bureau of Statistics (PCBS) on Thursday.
The PCBS statement shows that the GDP of Palestine in the first quarter of 2024 declined by 35 percent year on year, while that of the Gaza Strip sharply shrank by 86 percent due to ongoing Israeli attacks, indicating that the local economic system has collapsed.
The West Bank also saw a year-on-year contraction by 25 percent.
Palestine's GDP per capita was 491 U.S. dollars in the first three months of 2024, down 36 percent compared to the same period of last year, with that of the Gaza Strip decreased by 86 percent.
Gaza's GDP contracts 86 pct amid Israeli attacks
Gaza's GDP contracts 86 pct amid Israeli attacks
Chinese Foreign Minister Wang Yi held talks with his Indonesian counterpart Sugiono in Beijing on Monday, with both sides hailing the robust growth of bilateral ties.
To celebrate the 75th anniversary of diplomatic relations, Wang said that China and Indonesia should jointly develop emerging industries like green energy and the digital economy, as well as expand mutually beneficial cooperation.
Wang highlighted key projects such as the Jakarta-Bandung High-Speed Railway and "Two Countries, Twin Parks" as benchmarks for connectivity.
The Chinese foreign minister said both sides should uphold free trade, promote two-way investment, and build a secure, stable, and smooth industrial and supply chain.
Wang added that China is willing to import more Indonesian products, and that he hopes the Indonesian government will safeguard the rights and interests of Chinese-funded institutions and personnel in Indonesia.
Sugiono said China is Indonesia's largest trading partner, and a major source of foreign investment.
He added that Indonesia is committed to comprehensively deepening its relations with China, and looks forward to strengthening exchanges at all levels.
Chinese FM holds talks with Indonesian counterpart on bilateral ties
