Israeli blockade imposed since 2007 in Gaza result..$ 16.7 billion in damage
The United Nations Conference on Trade and Development (UNCTAD) has estimated the damage to Gaza as a result of the Israeli blockade imposed in 2007 at $ 16.7 billion.
The UNCTAD report, which covers 2007 to 2018 period, states that the volume of damage to the Gaza economy during this period was 6 times the Gaza’s GDP.
The report adds that if it weren’t for the closure of factories and crossings and military operations of the Israeli army, the poverty rate in Gaza in 2017 could have risen to about 15 percent instead of the current 56 percent.
According to the Palestine Information Center, the UN agency stressed that Gaza has the highest unemployment rate in the world, with more than half of the population living below the poverty line and most of the population living in the area Don’t have access to drinking water and electricity. Gaza’s economic growth was less than 5 percent between 2007 and 2018.