The Palestinian Ministry of Economy said today, Monday, that 25% of industrial and commercial establishments have been completely or partially closed in the West Bank, with the near-total halt of production in the Gaza Strip continuing, as a result of the ongoing Israeli occupation aggression since last October 7.

The weekly economic observatory, covering the period from November 12-16, 2023, indicated that the incursions and invasions of cities by Israeli occupation forces, restrictions on the movement of individuals and goods, and the arbitrary measures imposed, have forced economic establishments to close for extended periods since the beginning of the aggression.

It explained that 8% of economic establishments were directly attacked by the occupation army and settler attacks, causing direct damage to one of their fixed assets or the goods they own.

Data from the observatory showed that most service establishments experienced a decline in their monthly revenues, with an average decline reaching 75%, especially in restaurant, hotel, tourism and travel, and transportation activities, noting that the service sector contributes about 30% of the GDP.

The observatory also explained that 78% of establishments suffer from difficulties in movement and distribution of goods between cities due to the arbitrary measures of the occupation authorities, the setting up of barriers, and the invasions of cities, camps, and Palestinian towns.

It indicated that there is a 50% decline in the production capacity of industrial establishments, while 90% of establishments recorded a decline in their monthly sales, with an average decline of 52%.