The main objective of this study is to shed light on the critical situation in Gaza and estimate the costs of the blockade and military operations with a particular focus on the socioeconomic conditions at the household level. It covers the unrealized potential economic growth that could have been realized had the Gaza blockade and military operations not occurred during 2007-2018. It also applies quantitative methods to estimate poverty headcount and poverty gap. The study also contains a set of recommendations for the occupying power, Palestinian policy makers, the international community and development agencies on the need to end the blockade on Gaza and mitigate its heavy impact.