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    Syria Index 2006

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    Syria Economy - 2006
    https://theodora.com/wfbcurrent/syria/syria_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      The Syrian Government estimates the economy grew by 4.5 percent in real terms in 2005, led by the petroleum and agricultural sectors, which together account for about half of GDP. Economic performance and the exchange rate on the informal market were hit by international political developments following the assassination in February of former Lebanese Prime Minister Rafiq al-HARIRI and the specter of international sanctions. Higher crude oil prices countered declining oil production and exports and helped to narrow the budget deficit and widen the current account surplus. The Government of Syria has implemented modest economic reforms in the last few years, including cutting interest rates, opening private banks, consolidating some of the multiple exchange rates, and raising prices on some subsidized foodstuffs. Nevertheless, the economy remains highly controlled by the government. Long-run economic constraints include declining oil production and exports, increasing pressure on water supplies caused by rapid population growth, industrial expansion, and water pollution.

      GDP (purchasing power parity):
      $63.31 billion (2005 est.)

      GDP (official exchange rate):
      $25.12 billion (2005 est.)

      GDP - real growth rate:
      4.5% (2005 est.)

      GDP - per capita (PPP):
      $3,400 (2005 est.)

      GDP - composition by sector:
      agriculture: 23%
      industry: 24%
      services: 53% (2004 est.)

      Labor force:
      5.12 million (2004 est.)

      Labor force - by occupation:
      agriculture: 30%
      industry: 27%
      services: 43% (2002 est.)

      Unemployment rate:
      12.3% (2004 est.)

      Population below poverty line:
      20% (2004 est.)

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      2.6% (2005 est.)

      Investment (gross fixed):
      21.1% of GDP (2005 est.)

      Budget:
      revenues: $6.392 billion
      expenditures: $7.613 billion; including capital expenditures of $3.23 billion (2005 est.)

      Public debt:
      45% of GDP (2005 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

      Industrial production growth rate:
      7% (2002 est.)

      Electricity - production:
      29.53 billion kWh (2003 est.)

      Electricity - consumption:
      28.26 billion kWh (2003 est.)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      0 kWh (2003)

      Oil - production:
      403,800 bbl/day (2005 est.)

      Oil - consumption:
      240,000 bbl/day (2004 est.)

      Oil - exports:
      285,000 bbl/day (2004)

      Oil - imports:
      NA bbl/day

      Oil - proved reserves:
      2.5 billion bbl (2005 est.)

      Natural gas - production:
      6.95 billion cu m (2003 est.)

      Natural gas - consumption:
      6.95 billion cu m (2003 est.)

      Natural gas - exports:
      0 cu m (2001 est.)

      Natural gas - imports:
      0 cu m (2001 est.)

      Natural gas - proved reserves:
      240.7 billion cu m (2005)

      Current account balance:
      $980 million (2005 est.)

      Exports:
      $6.344 billion f.o.b. (2005 est.)

      Exports - commodities:
      crude oil, petroleum products, fruits and vegetables, cotton fiber, clothing, meat and live animals, wheat

      Exports - partners:
      Italy 22.7%, France 18%, Turkey 12.9%, Iraq 9%, Saudi Arabia 6.2% (2004)

      Imports:
      $5.973 billion f.o.b. (2005 est.)

      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:
      Turkey 9.4%, Ukraine 8.7%, China 7.8%, Russia 5.4%, Saudi Arabia 5.2%, US 4.7%, South Korea 4.6%, Italy 4.3% (2004)

      Reserves of foreign exchange and gold:
      $4.104 billion (2005 est.)

      Debt - external:
      $8.59 billion; note - excludes military debt and debt to Russia (2005 est.)

      Economic aid - recipient:
      $180 million (2002 est.)

      Currency (code):
      Syrian pound (SYP)

      Exchange rates:
      Syrian pounds per US dollar - (public sector rate): 11.225 (2005), 11.225 (2004), 11.225 (2003), 11.225 (2002), 11.225 (2001), (parallel market rate in 'Amman and Beirut): NA (2005), NA (2004), 52.8 (2003), 52.4 (2002), 50.4 (2001), (official rate for repaying loans): 11.25 (2004)

      Fiscal year:
      calendar year


      NOTE: The information regarding Syria on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Syria Economy 2006 information contained here. All suggestions for corrections of any errors about Syria Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/syria/syria_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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