The Palestinian Authority (PA) announced today an increase in trade with Israel.
Exports to Israel increased 10% in November 2021 compared to the previous month. All in all, 84% of Palestinian exports went to Israel that month. Palestinian exports to anywhere totaled $148.5 million in November, the PA’s official WAFA news agency reported today.
Imports from Israel also increased 2% in November compared to October and accounted for 54% of Palestinian imports. Exports and imports to and from other countries also increased, according to WAFA.
The PA administers parts of the West Bank, while the Israeli military controls others as well as the territory’s borders. Most of the international community considers the West Bank occupied by Israel, though Israel disputes this. The PA has some autonomy when it comes to the Palestinian economy.
The PA’s announcement follows warming economic and political relations with Israel. Palestinian President Mahmoud Abbas met with Israeli Defense Minister Benny Gantz in August, after which Israel announced a $155 million loan to the authority.
The two met again in December. After that meeting, Israel declared a series of measures aimed at boosting the Palestinian economy. These included the granting of more Israeli entry permits for Palestinian businesspeople, for example.