Palestine Stock Exchange Faces Major Decline One Year After Gaza War
A year after the onset of the devastating Gaza war, the Palestine Stock Exchange has reported a significant decline of 22.4% in its market value, plummeting from $5.02 billion to $3.9 billion. This downturn reflects the ongoing economic repercussions of the conflict that began on October 7, 2023, which has severely impacted the financial stability of the region.
The decline in the stock exchange is indicative of the broader economic challenges faced by the Palestinian territories. The Al-Quds Index, which tracks the performance of the 15 most actively traded companies, has also seen a sharp drop of 26.8%, falling to 479.2 points from 654.3 points prior to the war. The Palestine Stock Exchange comprises 49 listed companies across various sectors, including banking, insurance, investment, industry, and services, all of which have been adversely affected by the ongoing hostilities.
As the conflict continues, the humanitarian crisis worsens, with reports indicating over 140,000 Palestinian casualties and a massive displacement crisis. The lack of international intervention, despite calls from the UN Security Council and the International Court of Justice, has left the region in a state of despair, with urgent needs for humanitarian aid and economic recovery.
