unbekannter Gast

Syria: Economy#

Despite modest economic growth and reform prior to the outbreak of unrest, Syria's economy continues to deteriorate amid the ongoing conflict that began in 2011. The economy further contracted in 2013 because of international sanctions, widespread infrastructure damage, reduced domestic consumption and production, and sharply rising inflation. The government has struggled to address the effects of economic decline, which include dwindling foreign exchange reserves, rising budget and trade deficits, and the decreasing value of the Syrian pound. The ongoing conflict and economic decline have created a humanitarian crisis, prompting widespread need for international aid. 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, increasing pressure on water supplies caused by heavy use in agriculture, rapid population growth, industrial expansion, and water pollution.

Economic Facts#

GDP (purchasing power parity)$107.6 billion (2011 est.)
$110.1 billion (2010 est.)
$106.5 billion (2009 est.)
note: data are in 2011 US dollars
the war driven deterioration of the economy resulted in a disappearance of quality national level statistics in 2012-13
GDP - real growth rate-2.3% (2011 est.)
3.4% (2010 est.)
GDP - per capita (PPP)$5,100 (2011 est.)
$5,100 (2010 est.)
$5,200 (2010 est.)
note: data are in 2011 US dollars
GDP - composition, by sector of originagriculture: 17.6%
industry: 22.2%
services: 60.2% (2013 est.)
Population below poverty line11.9% (2006 est.)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 17%
industry: 16%
services: 67% (2008 est.)
Exports - commoditiescrude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, textiles, clothing, meat and live animals, wheat
Exports - partnersIraq 58.4%, Saudi Arabia 9.7%, Kuwait 6.4%, UAE 5.5%, Libya 4.1% (2012)
Agriculture - productswheat, barley, cotton, lentils, chickpeas, olives, sugar beets; beef, mutton, eggs, poultry, milk
Budgetrevenues: $2.38 billion
expenditures: $7.56 billion (2013 est.)
Imports - commoditiesmachinery and transport equipment, electric power machinery, food and livestock, metal and metal products, chemicals and chemical products, plastics, yarn, paper
Imports - partnersSaudi Arabia 22.8%, UAE 11.2%, Iran 8.3%, China 7.3%, Iraq 6.8% (2012)
Exchange ratesSyrian pounds (SYP) per US dollar -
105.3 (2013 est.)
64.392 (2012 est.)
11.225 (2010 est.)
46.708 (2009)
46.5281 (2008)
Exports$2.675 billion (2013 est.)
$3.876 billion (2012 est.)
Debt - external$9.796 billion (31 December 2013 est.)
$8.394 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$8.917 billion (2013 est.)
$10.78 billion (2012 est.)
Industrial production growth rate-20.6% (2013 est.)
Industriespetroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, automobile assembly
Inflation rate (consumer prices)59.1% (2013 est.)
36.9% (2012 est.)
Labor force5.014 million (2013 est.)
Unemployment rate17.8% (2013 est.)
18% (2012 est.)
Public debt58.9% of GDP (2013 est.)
52.4% of GDP (2012 est.)
Current account balance-$5.879 billion (2013 est.)
-$6.706 billion (2012 est.)
Reserves of foreign exchange and gold$1.895 billion (31 December 2013 est.)
$4.793 billion (31 December 2012 est.)
GDP (official exchange rate)$64.7 billion (2011 est.)
Market value of publicly traded shares$NA
Central bank discount rate0.75% (31 December 2013 est.)
5% (31 December 2012 est.)
Commercial bank prime lending rate10.5% (31 December 2013 est.)
11.7% (31 December 2012 est.)
Stock of domestic credit$7.777 billion (31 December 2013 est.)
$17.41 billion (31 December 2012 est.)
Stock of narrow money$8.097 billion (31 December 2013 est.)
$16.78 billion (31 December 2012 est.)
Stock of broad money$12.77 billion (31 December 2013 est.)
$27.11 billion (31 December 2012 est.)
Taxes and other revenues3.7% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-8% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 68.3%
government consumption: 19.7%
investment in fixed capital: 20.1%
investment in inventories: 9.3%
exports of goods and services: 11.3%
imports of goods and services: -28.6%
(2013 est.)
Gross national saving5.4% of GDP (2013 est.)
12.8% of GDP (2012 est.)
15% of GDP (2011 est.)