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 2022 $3.619 billion (2022 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 27.8% (2021 est.)
Industry 28.9% (2021 est.)
Services 43.3% (2021 est.)
GDP - composition, by end use
Household consumption 128.6% (2021 est.)
Government consumption 10.9% (2021 est.)
Investment in fixed capital 8.7% (2021 est.)
Exports of goods and services 24.8% (2021 est.)
Imports of goods and services -73.1% (2021 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.

Syria is found in Western Asia