Syria - Economy
How is the economy of Syria? Based on the information we have, Syria has a low-income Middle Eastern economy; prior infrastructure and economy devastated by 11-year civil war; ongoing US sanctions; sporadic trans-migration during conflict; currently being supported by World Bank trust fund; ongoing hyperinflation. Key agricultural products in this country include: wheat, milk, olives, sheep milk, tomatoes, potatoes, maize, watermelons, apples, oranges (2022).
More about the economy of Syria
| Labor force | 6.315 million (2023 est.) |
|---|---|
| Industrial production growth rate | -14.03% (2021 est.) |
| Industries | petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, automobile assembly |
| Population below poverty line | 82.5% (2014 est.) |
| Taxes and other revenues | 4.2% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Syrian pounds (SYP) per US dollar - |
| Exchange rates 2022 | 2,505.747 (2022 est.) |
| Exchange rates 2021 | 1,256 (2021 est.) |
| Exchange rates 2020 | 877.945 (2020 est.) |
| Exchange rates 2019 | 436.5 (2019 est.) |
| Exchange rates 2018 | 436.5 (2018 est.) |
| Debt - external | |
| Debt - external 31 December 2017 | $4.989 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $5.085 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 31 December 2017 | $407.3 million (31 December 2017 est.) |
| Reserves of foreign exchange and gold 31 December 2016 | $504.6 million (31 December 2016 est.) |
| Current account balance | |
| Current account balance 2017 | -$2.123 billion (2017 est.) |
| Current account balance 2016 | -$2.077 billion (2016 est.) |
| Public debt | |
| Public debt 2017 | 94.8% of GDP (2017 est.) |
| Budget | |
| Revenues | $1.162 billion (2017 est.) |
| Expenditures | $3.211 billion (2017 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2021 | 0% of GDP (2021 est.) |
| Remittances 2020 | 0% of GDP (2020 est.) |
| Remittances 2019 | 0% of GDP (2019 est.) |
| Household income | |
| Lowest 10% | 3.8% (2022 est.) |
| Highest 10% | 21.1% (2022 est.) |
| Imports | |
| Imports 2021 | $6.553 billion (2021 est.) |
| Imports 2020 | $3.751 billion (2020 est.) |
| Imports 2019 | $6.552 billion (2019 est.) |
| Imports (partners) | Turkey 45%, UAE 10%, China 9%, Lebanon 8%, Egypt 7% (2022) |
| Comodities Imports force | tobacco, plastics, wheat, seed oils, plastic products (2022) |
| Exports | |
| Imports 2021 | $6.553 billion (2021 est.) |
| Imports 2020 | $3.751 billion (2020 est.) |
| Imports 2019 | $6.552 billion (2019 est.) |
| Exports (partners) | Turkey 29%, Kuwait 15%, Lebanon 14%, Jordan 8%, Egypt 7% (2022) |
| Comodities Exports force | pure olive oil, nuts, phosphates, cotton, garments (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2021 | $62.151 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $61.353 billion (2020 est.) |
| Real GDP (purchasing power parity) 2019 | $61.465 billion (2019 est.) |
| GDP (official exchange rate) | $8.98 billion (2021 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2021 | $2,900 (2021 est.) |
| Real GDP per capita 2020 | $3,000 (2020 est.) |
| Real GDP per capita 2019 | $3,100 (2019 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 20% (2017 est.) |
| Industry | 19.5% (2017 est.) |
| Services | 60.8% (2017 est.) |
| GDP - composition, by end use | |
| 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.) |
| Unemployment rate | |
| Unemployment rate 2023 | 13.54% (2023 est.) |
| Unemployment rate 2022 | 13.81% (2022 est.) |
| Unemployment rate 2021 | 14.8% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 33.5% (2023 est.) |
| Male | 29.8% (2023 est.) |
| Female | 52.6% (2023 est.) |
All Important Facts about Syria
Want to know more about Syria? Check all different factbooks for Syria below.
