The World Bank released its monthly report assessing the damage inflicted on Gaza in June 2024 due to the ongoing Israeli aggression. The report highlights extensive damage or destruction across Gaza’s trade and industry sectors.
According to the report, the sub-sectors of light manufacturing and news were 100% affected. The most impacted sub-sectors include technology (98%), management, accounting, and other office services (98%), tourism services (96%), architecture and design (over 94%), wholesale and retail car trade (over 94%), and research and development (over 94%).
During a meeting on June 5, 2024, members of the Gaza Chamber of Commerce confirmed the near-total destruction of the private sector in Gaza, with the worst damage reported in Gaza City and Northern Gaza.
A report from the Integrated Food Security Phase Classification (IPC) on June 25, noted increased deliveries of commercial and food supplies to Northern Gaza since April. When combined with humanitarian aid in May, food deliveries were deemed sufficient to feed the remaining population in the northern provinces.
However, the report also highlighted uncertainties regarding adequate access to commercial goods, including food. The Famine Early Warning Systems Network (FEWS NET) warned of an imminent famine in Northern Gaza in March, citing ongoing financial and physical barriers to food access.
On May 31, the de facto government’s media office claimed that over 98% of bakeries had closed due to fuel shortages. A report from the International Labour Organization (ILO) and the Palestinian Central Bureau of Statistics on June 7 indicated that Gaza’s unemployment rate stood at 80%, with the GDP having declined by nearly 84% since the conflict began. The report noted that almost all private sector institutions had either ceased production entirely or significantly reduced it, leading to an approximate 86% decline in the private sector’s production value.
