Palestine exports hard commodities (27 percent), fruits and vegetables (9 percent), iron and steel (5 percent), furniture (5 percent), footwear (5 percent), tobacco (5 percent), wood (3 percent), vehicles (3 percent) and fertilizer (3 percent).
It imports hard commodities (10 percent), petroleum (10 percent), cereals (5 percent), iron and steel (4 percent), textiles (4 percent), diary (4 percent), vehicles (3 percent) and electronics (3 percent).
According to last available records, Palestine exported US$444 million and imported US$2.7 billion worth of goods. It is subject to a trade deficit since the signing of the Oslo agreements that represents as much as 48 percent of the GDP.
The Palestinian National Authority has pursued a free market policy since gaining control of the Palestinian territories. Although Palestine still faces some non-tariff barriers from Israel, the Paris Protocol has enabled the Palestinian economy to build on its strong industries, and increase its exports to both neighboring and international markets.