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Syria Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Syria Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 31, 2014

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, and inflation has risen sharply. 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. 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: 70

$110.1 billion (2010 est.)
$110.9 billion (2010 est.)
note: data are in 2011 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: 156

$5,100 (2010 est.)
$5,200 (2010 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
12.8% of GDP (2012 est.)
country comparison to the world: 117

15% of GDP (2011 est.)
26.1% of GDP (2010 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 69.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.2%
investment in fixed capital: 20.6%
investment in inventories: 8.4%
exports of goods and services: 13.9%
imports of goods and services: -29.4%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 16.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 22.8%
services: 60.7% (2012 est.)

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:
-32.8% (2012 est.)
country comparison to the world: 179
[see also: Industrial production growth rate country ranks ]

Labor force:
5.327 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: 156

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%

Budget:
revenues: $5.217 billion
[see also: Budget revenues country ranks ]
expenditures: $12.59 billion (2012 est.)

Taxes and other revenues:
8.1% of GDP (2012 est.)
country comparison to the world: 211
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-11.4% of GDP (2012 est.)
country comparison to the world: 205
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
52.4% of GDP (2012 est.)
country comparison to the world: 58

35.4% of GDP (2011 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
36.9% (2012 est.)
country comparison to the world: 221

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: 69

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: 84

10.5% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$16.78 billion (31 December 2012 est.)
country comparison to the world: 65

$21.88 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: 76

$39.36 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$17.41 billion (31 December 2012 est.)
country comparison to the world: 85

$27.2 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 ]

Current account balance:
$-6.706 billion (2012 est.)
country comparison to the world: 169

$-7.726 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$3.876 billion (2012 est.)
country comparison to the world: 122

$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 58.4%, Saudi Arabia 9.7%, Kuwait 6.4%, UAE 5.5%, Libya 4.1% (2012)

Imports:
$10.78 billion (2012 est.)
country comparison to the world: 95

$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 22.8%, UAE 11.2%, Iran 8.3%, China 7.3%, Iraq 6.8% (2012)

Reserves of foreign exchange and gold:
$4.793 billion (31 December 2012 est.)
country comparison to the world: 94

$14.44 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$8.394 billion (31 December 2012 est.)
country comparison to the world: 103

$8.269 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Syrian pounds (SYP) per US dollar -

64.3919 (2012 est.)
48.371 (2011 est.)
11.225 (2010 est.)
46.708 (2009)
46.5281 (2008)


NOTE: 1) The information regarding Syria on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Syria Economy 2014 information contained here. All suggestions for corrections of any errors about Syria Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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