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Economy of Syria information


Economy of Syria
Bank Al-Sharq and the Blue Tower Hotel in Damascus
CurrencySyrian pound (SYP)
Fiscal year
Calendar year
Trade organisations
CAEU, GAFTA, G24, G77, World Bank, IMF
Country group
  • Developing/Emerging[1]
  • Lower-middle income economy[2]
  • Lower income economy[3]
Statistics
PopulationIncrease 18,604,031 (2021 est.)[4]
GDP
$22.4 billion (nominal; 2019 est.)[5]
$57.25 billion (PPP; 2015 est.)[2]/$136 billion (PPP; 2021 est.)[citation needed]
GDP rank
  • 138th (nominal, 2019)
  • 117th (PPP, 2015)
GDP growth
Increase 1.4% (2019)[note 1]
GDP per capita
$6.373 (PPP; 2021)[6]
GDP by sector
  • agriculture: 10.49%
  • industry: 26.51%
  • services: 63.0%
  • (2017 est.)[2]
Inflation (CPI)
Negative increase 28.1% (2017 est.)[7]
Population below poverty line
82.5% (2014 est.)[2]
Human Development Index
  • Decrease 0.557 medium (2022)[8] (157th)
  • N/A IHDI (2022)[9]
Labour force
Increase 6,142,683 (2021)[10]
Labour force by occupation
  • agriculture: 17%
  • industry: 16%
  • services: 67% (2008 est.)[2]
UnemploymentNegative increase 50% (2021)[11][note 2]
Main industries
Petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, car assembly
External
ExportsIncrease $1.01 billion (2021)[12]
Export goods
olive oil, spices, barley, nuts, cotton, tomatoes, soap, phosphates, cumin seeds, pistachios, glass, cleaning products, apples, pears, potatoes, and some pitted fruits (2021)[12]
Main export partners
  • Economy of Syria Saudi Arabia 30.9%
  • Economy of Syria Turkey 18.1%
  • Economy of Syria Lebanon 12.2%
  • Economy of Syria Jordan 6.88%
  • Economy of Syria Egypt 5.35%
  • Economy of Syria UAE 4.83%
  • Economy of Syria Kuwait 4.27%
  • Economy of Syria Germany 2.02%
  • Economy of Syria Serbia 1.57% (2021)[12]
ImportsIncrease $4.5 billion (2021)[12]
Import goods
cigarettes, tobacco, raw sugar, motor vehicles, broadcasting equipment, wheat flours, sunflower oil, liquefied petroleum gas, associated petroleum gas, refined petroleum, coffee and rice (2021)[12]
Main import partners
  • Economy of Syria Turkey 45%
  • Economy of Syria China 11.1%
  • Economy of Syria UAE 10.6%
  • Economy of Syria Egypt 6.56%
  • Economy of Syria Jordan 2.71%
  • Economy of Syria India 2.67%
  • Economy of Syria Lebanon 2.47%
  • Economy of Syria Saudi Arabia 1.65%
  • Economy of Syria Italy 1.59%
  • Economy of Syria Germany 1.07% (2021)[12]
Gross external debt
Negative increase$7 billion (2020 est.)
Public finances
Government debt
Negative increase67% of GDP (2021 est.)
Revenues$2.7 billion (2021 est.)
ExpensesDecrease$2.1 billion (2021 est.)
Economic aidhumanitarian aid $7.7 billion (2020 est.)[13]
Foreign reserves
Increase$2.1 billion (2020 est.)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

Syria's economic situation has been turbulent and their economy has deteriorated considerably since the beginning of the Syrian civil war, which erupted in March 2011.[14][15]

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ a b c d e "MIDDLE EAST :: SYRIA". CIA.gov. Central Intelligence Agency. Retrieved 29 December 2019.
  3. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  4. ^ "Population, total – Syrian Arab Republic". worldpopulationreview.com. World population review. Retrieved 1 January 2022.
  5. ^ "GDP Syrian Arab Republic". worldbank.org. World Bank. Retrieved 29 December 2022.
  6. ^ "GDP per capita (current US$) - Syrian Arab Republic". World Bank. Retrieved 22 July 2022.
  7. ^ "Inflation, consumer prices (annual %) - Syrian Arab Republic". World Bank. Retrieved 1 May 2022.
  8. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  9. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 11 December 2019.
  10. ^ "Labor force, total – Syrian Arab Republic". data.worldbank.org. World Bank. Retrieved 1 January 2022.
  11. ^ "Unemployment, total (% of the total labor force) (modeled ILO estimate) – Syrian Arab Republic". data.worldbank.org. World Bank & ILO. Retrieved 5 April 2020.
  12. ^ a b c d e f "Foreign trade partners of Syria". The Observatory of Economic Complexity. Retrieved 19 July 2022.
  13. ^ Robin Emmott (30 June 2020). "U.N. raises $7.7 billion for Syrians beset by war and COVID-19". Reuters. Retrieved 2 January 2022.
  14. ^ CIA World Fact Book – Syria's Economy. Cia.gov.
  15. ^ "Syria: The story of the conflict". BBC News. 11 March 2016. Retrieved 26 July 2021.


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