Page last updated on February 20, 2013
Economy - overview:
Despite modest economic growth and reform prior to the outbreak of unrest, Syria's economy continues to suffer the effects of the ongoing conflict that began in 2011. The economy further contracted in 2012 because of international sanctions and reduced domestic consumption and production. The government has struggled to address the effects of economic decline, including dwindling foreign exchange reserves, rising budget and trade deficits, and the decreasing value of the Syrian pound. Prior to the unrest, Damascus began liberalizing economic policies, including cutting lending interest rates, opening private banks, consolidating multiple exchange rates, raising prices on some subsidized items, and establishing the Damascus Stock Exchange. The economy remains highly regulated by the government. Long-run economic constraints include foreign trade barriers, declining oil production, high unemployment, rising budget deficits, and increasing pressure on water supplies caused by heavy use in agriculture, rapid population growth, industrial expansion, and water pollution.
GDP (purchasing power parity):
$107.6 billion (2011 est.)
country comparison to the world: 69
$110.1 billion (2010 est.)
$106.5 billion (2009 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$64.7 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
NA (2012 est.)
-2.3% (2011 est.)
3.4% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$5,100 (2011 est.)
country comparison to the world: 153
$5,100 (2010 est.)
$5,200 (2009 est.)
note:
data are in 2011 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 18.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
25.3%
services:
56.6% (2012 est.)
Labor force:
5.54 million (2012 est.)
country comparison to the world: 71
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 17%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
16%
services:
67% (2008 est.)
Unemployment rate:
18% (2012 est.)
country comparison to the world: 155
14.9% (2011 est.)
[see also:
Unemployment rate country ranks ]
Population below poverty line:
11.9% (2006 est.)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
Investment (gross fixed):
20.8% of GDP (2012 est.)
country comparison to the world: 86
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $6.511 billion
[see also: Budget revenues country ranks ]
expenditures:
$12.68 billion (2012 est.)
Taxes and other revenues:
10.1% of GDP (2012 est.)
country comparison to the world: 208
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-9.5% of GDP (2012 est.)
country comparison to the world: 200
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
44% of GDP (2012 est.)
country comparison to the world: 77
35.2% of GDP (2011 est.)
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
33.7% (2012 est.)
country comparison to the world: 222
4.8% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
0.75% (31 December 2012 est.)
country comparison to the world: 73
5% (31 December 2011 est.)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
11.7% (31 December 2012 est.)
country comparison to the world: 86
10.5% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$18.01 billion (31 December 2012 est.)
country comparison to the world: 65
$22.37 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$30.17 billion (31 December 2012 est.)
country comparison to the world: 77
$39.36 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$20.33 billion (31 December 2012 est.)
country comparison to the world: 82
$27.8 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]
Agriculture - products:
wheat, barley, cotton, lentils, chickpeas, olives, sugar beets; beef, mutton, eggs, poultry, milk
Industries:
petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, car assembly
Industrial production growth rate:
6% (2010 est.)
country comparison to the world: 53
[see also: Industrial production growth rate country ranks ]
Current account balance:
-$5.103 billion (2012 est.)
country comparison to the world: 167
-$7.726 billion (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$4.981 billion (2012 est.)
country comparison to the world: 114
$10.29 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
crude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, textiles, clothing, meat and live animals, wheat
Exports - partners:
Iraq 38.8%, Italy 7.9%, Germany 7.1%, Saudi Arabia 6.5%, Kuwait 4.2% (2011)
Imports:
$10.01 billion (2012 est.)
country comparison to the world: 97
$17.6 billion (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
machinery and transport equipment, electric power machinery, food and livestock, metal and metal products, chemicals and chemical products, plastics, yarn, paper
Imports - partners:
Saudi Arabia 14.8%, China 10.3%, UAE 7.3%, Turkey 6.8%, Iran 5.4%, Italy 5.1%, Russia 4.6%, Iraq 4.4% (2011)
Reserves of foreign exchange and gold:
$4.774 billion (31 December 2012 est.)
country comparison to the world: 93
$14.83 billion (31 December 2011 est.)
[see also:
Reserves of foreign exchange and gold country ranks ]
Debt - external:
$8.818 billion (31 December 2012 est.)
country comparison to the world: 99
$8.196 billion (31 December 2011 est.)
[see also:
Debt - external country ranks ]
Exchange rates:
Syrian pounds (SYP) per US dollar -
63.94 (2012 est.)
48.371 (2011 est.)
11.225 (2010 est.)
46.708 (2009)
46.5281 (2008)
Fiscal year:
calendar year
NOTE: The information regarding Syria on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Syria Economy 2013 information contained here. All suggestions for corrections of any errors about Syria Economy 2013 should be addressed to the CIA.
- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.
http://www.theodora.com/wfbcurrent/syria/syria_economy.html
This page was last modified 11-Mar-13
Copyright © 1995-2013
ITA all rights reserved.
