By mid-2024, the enclave’s GDP had dropped to one-sixth of its pre-war level, according to a report Israel’s ongoing war in Gaza has led to an unprecedented decline in the Palestinian enclave’s economic activity, according to a new report issued on Thursday by the United Nations Conference on Trade and Development (UNCTAD). In the report, the UN trade body calculated that Gaza’s GDP plummeted by 81% in the last quarter of 2023, leading to a 22% contraction for the entire year. The economy is “in ruins,” having shrunk by mid-2024 to less than one-sixth of its 2022 level, UNCTAD said. The publication highlighted th
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