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Syria Economy 2011
https://theodora.com/wfb2011/syria/syria_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Syria Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2011

Economy - overview:
Syrian economic growth slowed to 1.8% in 2009 as the global economic crisis affected oil prices and the economies of Syria's key export partners and sources of investment. Damascus has implemented modest economic reforms in the past few years, including cutting lending interest rates, opening private banks, consolidating all of the multiple exchange rates, raising prices on some subsidized items, most notably gasoline and cement, and establishing the Damascus Stock Exchange - which began operations in 2009. In addition, President ASAD signed legislative decrees to encourage corporate ownership reform, and to allow the Central Bank to issue Treasury bills and bonds for government debt. Nevertheless, the economy remains highly controlled by the government. Long-run economic constraints include 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):
$106.4 billion (2010 est.)
country comparison to the world: 68

$102.4 billion (2009 est.)
$97.48 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$59.63 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4% (2010 est.)
country comparison to the world: 83

5% (2009 est.)
4.3% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,800 (2010 est.)
country comparison to the world: 152

$4,700 (2009 est.)
$4,600 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 17.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 26.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 55.6% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
5.527 million (2009 est.)
country comparison to the world: 69
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 17%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 16%
[see also: Labor force - by occupation - industry country ranks ]
services: 67% (2008 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8.3% (2010 est.)
country comparison to the world: 95

8.5% (2009 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%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Investment (gross fixed):
16.6% of GDP (2009 est.)
country comparison to the world: 121
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $12.53 billion
[see also: Budget - revenues country ranks ]
expenditures: $15.3 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
29.8% of GDP (2010 est.)
country comparison to the world: 88

28.1% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
5.9% (2010 est.)
country comparison to the world: 159

2.6% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2009)
country comparison to the world: 88

5% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
10.04% (31 December 2009 est.)
country comparison to the world: 87

10.19% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$21.6 billion (31 December 2010 est)

$19.53 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$161 billion (31 December 2009)

$147.5 billion (31 December 2008)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$27.14 billion (31 December 2010 est.)
country comparison to the world: 71

$23.58 billion (31 December 2009 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% (2009 est.)
country comparison to the world: 54
[see also: Industrial production growth rate country ranks ]

Electricity - production:
36.5 billion kWh (2007 est.)
country comparison to the world: 58
[see also: Electricity - production country ranks ]

Electricity - consumption:
27.35 billion kWh (2007 est.)
country comparison to the world: 63
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
1.4 billion kWh (2007)
[see also: Electricity - imports country ranks ]

Oil - production:
400,400 bbl/day (2009 est.)
country comparison to the world: 33
[see also: Oil - production country ranks ]

Oil - consumption:
252,000 bbl/day (2009 est.)
country comparison to the world: 50
[see also: Oil - consumption country ranks ]

Oil - exports:
155,000 bbl/day (2008 est.)
country comparison to the world: 56
[see also: Oil - exports country ranks ]

Oil - imports:
58,710 bbl/day (2007 est.)
country comparison to the world: 81
[see also: Oil - imports country ranks ]

Oil - proved reserves:
2.5 billion bbl (1 January 2010 est.)
country comparison to the world: 33
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
6.04 billion cu m (2008 est.)
country comparison to the world: 47
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
6.18 billion cu m (2008 est.)
country comparison to the world: 56
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 114
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
140 million cu m (2008 est.)
country comparison to the world: 65
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
240.7 billion cu m (1 January 2010 est.)
country comparison to the world: 43
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$649 million (2010 est.)
country comparison to the world: 48

$394 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$12.84 billion (2010 est.)
country comparison to the world: 78

$11.76 billion (2009 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 30.22%, Lebanon 12.21%, Germany 8.89%, Egypt 6.8%, Saudi Arabia 5.04%, Italy 4.55% (2009)

Imports:
$13.57 billion (2010 est.)
country comparison to the world: 82

$12.62 billion (2009 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 10.1%, China 9.95%, Turkey 6.97%, Egypt 6.44%, UAE 4.97%, Italy 4.93%, Russia 4.92%, Germany 4.38%, Lebanon 4.12% (2009)

Reserves of foreign exchange and gold:
$17.96 billion (31 December 2010 est.)
country comparison to the world: 41

$17.44 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$7.682 billion (31 December 2010 est.)
country comparison to the world: 93

$7.359 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Exchange rates:
Syrian pounds (SYP) per US dollar - 46.456 (2010), 46.7082 (2009), 46.5281 (2008), 50.0085 (2007), 51.689 (2006)


NOTE: The information regarding Syria on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Syria Economy 2011 information contained here. All suggestions for corrections of any errors about Syria Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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