UN reports Gaza's economy has collapsed, with 92 percent of businesses destroyed

On September 24, 2026, the United Nations Conference on Trade and Development (UNCTAD) reported that Gaza is suffering the world's worst economic crisis on record. The report, presented in Geneva, stated that 92 percent of Gaza's businesses have been damaged or destroyed, daily per capita GDP is $0.58, and prices are 274 percent higher than in 2022. The conflict, which began in October 2023, has killed over 73,000 people and displaced nearly the entire population. UNCTAD also warned of a potential banking collapse in the occupied West Bank due to heavy borrowing and settlement expansion.