header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Syria:
Economy

Flag of Syria
Click to enlarge

Syria Page


Economy - overview
Definition
The Syrian economy grew by an estimated 3.3% in real terms in 2007 led by the petroleum and agricultural sectors, which together account for about one-half of GDP. Higher crude oil prices countered declining oil production and led to higher budgetary and export receipts. 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 is set to begin operations in 2009. In October 2007, for example, Damascus raised the price of subsidized gasoline by 20%, and may institute a rationing system in 2008. 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 and inflation, 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)
Definition - World rank and map
$87.09 billion (2007 est.)
GDP (official exchange rate)
Definition
$37.76 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
3.9% (2007 est.)
GDP - per capita
Definition - World rank and map
$4,500 (2007 est.)
GDP - composition by sector
Definition
agriculture: 23.6%
industry: 27.5%
services: 48.9% (2007 est.)
Labor force
Definition
5.462 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 19.2%
industry: 14.5%
services: 66.3% (2006 est.)
Unemployment rate
Definition - World rank and map
9% (2007 est.)
Population below poverty line
Definition
11.9% (2006 est.)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
7% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
21.3% of GDP (2007 est.)
Budget
Definition
revenues: $8.848 billion
expenditures: $11.21 billion (2007 est.)
Public debt
Definition - World rank and map
37.8% of GDP (2007 est.)
Agriculture - products
Definition
wheat, barley, cotton, lentils, chickpeas, olives, sugar beets; beef, mutton, eggs, poultry, milk
Industries
Definition
petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, car assembly
Industrial production growth rate
Definition - World rank and map
2.5% (2007 est.)
Electricity - production
Definition - World rank and map
34.94 billion kWh (2007 est.)
Electricity - consumption
Definition - World rank and map
34 billion kWh (2007 est.)
Electricity - consumption per capita
Definition - World rank and map
1,721.8 kWh (2007 est.)
Electricity - exports
Definition
986 million kWh (2006)
Electricity - imports
Definition
0 kWh (2007 est.)
Oil - production
Definition - World rank and map
380,000 bbl/day (2007 est.)
Oil - consumption
Definition - World rank and map
229,000 bbl/day (2007 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
11.6 bbl/day (2007 est.)
Oil - exports
Definition - World rank and map
150,000 bbl/day (2007 est.)
Oil - imports
Definition - World rank and map
160,000 bbl/day (2007 est.)
Oil - proved reserves
Definition - World rank and map
2.5 billion bbl (2007 est.)
Natural gas - production
Definition - World rank and map
7.8 billion cu m (2007 est.)
Natural gas - consumption
Definition - World rank and map
4.4 billion cu m (2007 est.)
Natural gas - consumption per capita
Definition - World rank and map
223 cu m (2007 est.)
Natural gas - exports
Definition - World rank and map
NA cu m
Natural gas - imports
Definition - World rank and map
0 cu m (2007 est.)
Natural gas - proved reserves
Definition - World rank and map
240 billion cu m (1 January 2007 est.)
Current account balance
Definition - World rank and map
-$2.181 billion (2007 est.)
Exports
Definition - World rank and map
$10.58 billion f.o.b. (2007 est.)
Exports - commodities
Definition
crude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, textiles, clothing, meat and live animals, wheat
Exports - partners
Definition
Iraq 29.6%, Lebanon 9.8%, Germany 9.5%, Italy 7.9%, Egypt 5.5%, Saudi Arabia 5.1%, France 4.9% (2006)
Imports
Definition - World rank and map
$12.38 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and transport equipment, electric power machinery, food and livestock, metal and metal products, chemicals and chemical products, plastics, yarn, paper
Imports - partners
Definition
Saudi Arabia 12.1%, China 9.1%, Egypt 6.2%, Italy 6.1%, UAE 5.9%, Ukraine 4.9%, Germany 4.7%, Iran 4.4% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$6.039 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$6.465 billion (31 December 2007 est.)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$213 million (2008 est.)
Currency (code)
Definition
Syrian pound (SYP)
Exchange rates
Definition
Syrian pounds per US dollar - 50.0085 (2007), 51.689 (2006), 50 (2005), 48.5 (2004), 52.8 (2003)
note: data for 2004-06 are the public sector rate; data for 2002-03 are the parallel market rate in 'Amman and Beirut; the official rate for repaying loans was 11.25 Syrian pounds per US dollars during 2004-06,
Fiscal year
Definition
calendar year


Google
 
Web sitesatlas.com