Syria's economy has deeply deteriorated amid the ongoing conflict that began in 2011, declining by more than 70% from 2010 to 2017. The government has struggled to fully address the effects of international sanctions, widespread infrastructure damage, diminished domestic consumption and production, reduced subsidies, and high inflation, which have caused dwindling foreign exchange reserves, rising budget and trade deficits, a decreasing value of the Syrian pound, and falling household purchasing power. In 2017, some economic indicators began to stabilize, including the exchange rate and inflation, but economic activity remains depressed and GDP almost certainly fell.
During 2017, the ongoing conflict and continued unrest and economic decline worsened the humanitarian crisis, necessitating high levels of international assistance, as more than 13 million people remain in need inside Syria, and the number of registered Syrian refugees increased from 4.8 million in 2016 to more than 5.4 million.
Prior to the turmoil, Damascus had begun 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, but the economy remains highly regulated. 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, industrial contaction, water pollution, and widespread infrastructure damage.
-36.5% (2014 est.)
-30.9% (2013 est.)
note: data are in 2015 dollars
28.1% (2017 est.)
47.3% (2016 est.)
$50.28 billion (2015 est.)
$55.8 billion (2014 est.)
$61.9 billion (2013 est.)
note: data are in 2015 US dollars
the war-driven deterioration of the economy resulted in a disappearance of quality national level statistics in the 2012-13 period
$24.6 billion (2014 est.)
$2,900 (2015 est.)
$3,300 (2014 est.)
$2,800 (2013 est.)
note: data are in 2015 US dollars
17% of GDP (2017 est.)
15.3% of GDP (2016 est.)
16.1% of GDP (2015 est.)
agriculture: 20% (2017 est.)
industry: 19.5% (2017 est.)
services: 60.8% (2017 est.)
household consumption: 73.1% (2017 est.)
government consumption: 26% (2017 est.)
investment in fixed capital: 18.6% (2017 est.)
investment in inventories: 12.3% (2017 est.)
exports of goods and services: 16.1% (2017 est.)
imports of goods and services: -46.1% (2017 est.)
Overall score: 42 (2020)
Starting a Business score: 80.1 (2020)
Trading score: 29.8 (2020)
Enforcement score: 42.6 (2020)
wheat, barley, milk, olives, tomatoes, oranges, potatoes, sheep milk, lemons, limes
petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, automobile assembly
4.3% (2017 est.)
3.767 million (2017 est.)
agriculture: 17%
industry: 16%
services: 67% (2008 est.)
50% (2017 est.)
50% (2016 est.)
82.5% (2014 est.)
lowest 10%: NA
highest 10%: NA
revenues: 1.162 billion (2017 est.)
expenditures: 3.211 billion (2017 est.)
note: government projections for FY2016
4.2% (of GDP) (2017 est.)
-8.7% (of GDP) (2017 est.)
94.8% of GDP (2017 est.)
91.3% of GDP (2016 est.)
calendar year
-$2.123 billion (2017 est.)
-$2.077 billion (2016 est.)
$1.85 billion (2017 est.)
$1.705 billion (2016 est.)
Saudi Arabia 23%, Turkey 18%, Egypt 14%, United Arab Emirates 8%, Jordan 7%, Kuwait 5% (2019)
olive oil, cumin seeds, pistachios, tomatoes, apples, pears, spices, pitted fruits (2019)
$6.279 billion (2017 est.)
$5.496 billion (2016 est.)
Turkey 27%, China 22%, United Arab Emirates 14%, Egypt 5% (2019)
cigarettes, broadcasting equipment, wheat flours, sunflower oil, refined petroleum (2019)
$407.3 million (31 December 2017 est.)
$504.6 million (31 December 2016 est.)
$4.989 billion (31 December 2017 est.)
$5.085 billion (31 December 2016 est.)
Syrian pounds (SYP) per US dollar -
514.6 (2017 est.)
459.2 (2016 est.)
459.2 (2015 est.)
236.41 (2014 est.)
153.695 (2013 est.)
NOTE: The information regarding Syria on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Syria 2021 information contained here. All suggestions for corrections of any errors about Syria 2021 should be addressed to the CIA or the source cited on each page.
This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.