| People | Syria |
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Economy - overview:
|
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):
|
$87.09 billion (2007 est.) |
GDP (official exchange rate):
|
$37.76 billion (2007 est.) |
GDP - real growth rate:
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3.9% (2007 est.) |
GDP - per capita (PPP):
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$4,500 (2007 est.) |
GDP - composition by sector:
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agriculture: 23.6%
industry: 27.5%
services: 48.9% (2007 est.) |
Investment (gross fixed):
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21.3% of GDP (2007 est.) |
Population below poverty line:
|
11.9% (2006 est.) |
Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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7% (2007 est.) |
Labor force:
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5.462 million (2007 est.) |
Labor force participation rate:
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27.66 % of population |
Labor force - by occupation:
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agriculture: 19.2%
industry: 14.5%
services: 66.3% (2006 est.) |
Unemployment rate:
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9% (2007 est.) |
Budget:
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revenues: $8.848 billion
expenditures: $11.21 billion (2007 est.) |
Budget revenues per capita:
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449 USD per capita |
Public debt:
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37.8% of GDP (2007 est.) |
Industries:
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petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, car assembly |
Industrial production growth rate:
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2.5% (2007 est.) |
Electricity - production:
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34.94 billion kWh (2007 est.) |
Electricity - production per capita:
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1,770 kWh per capita |
Electricity - consumption:
|
34 billion kWh (2007 est.) |
Electricity - consumption - per capita:
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1,722 kWh per capita |
Electricity - exports:
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986 million kWh (2006) |
Electricity - imports:
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0 kWh (2007 est.) |
Oil - production:
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380,000 bbl/day (2007 est.) |
Oil - production per capita:
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19,243 bbl/day per capita |
Oil - consumption:
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229,000 bbl/day (2007 est.) |
Oil - consumption - per capita:
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4.23 bbl/year per capita |
Oil - exports:
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150,000 bbl/day (2007 est.) |
Oil - imports:
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160,000 bbl/day (2007 est.) |
Oil - proved reserves:
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2.5 billion bbl (2007 est.) |
Natural gas - production:
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7.8 billion cu m (2007 est.) |
Natural gas - production per capita:
|
395 cu m per capita |
Natural gas - consumption:
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4.4 billion cu m (2007 est.) |
Natural gas - consumption - per capita:
|
223 cu m per capita |
Natural gas - exports:
|
NA cu m |
Natural gas - imports:
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0 cu m (2007 est.) |
Natural gas - proved reserves:
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240 billion cu m (1 January 2007 est.) |
Agriculture - products:
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wheat, barley, cotton, lentils, chickpeas, olives, sugar beets; beef, mutton, eggs, poultry, milk |
Current account balance:
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-$2.181 billion (2007 est.) |
Current account balance - per capita:
|
-110 USD per capita |
Exports:
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$10.58 billion f.o.b. (2007 est.) |
Exports per capita:
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536 USD per capita |
Exports - commodities:
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crude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, textiles, clothing, meat and live animals, wheat |
Exports - partners:
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Iraq 27.4%, Germany 12.1%, Lebanon 9.5%, Italy 6.6%, Egypt 5.3%, Saudi Arabia 4.8% (2006) |
Imports:
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$12.38 billion f.o.b. (2007 est.) |
Imports per capita:
|
627 USD per capita |
Imports - commodities:
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machinery and transport equipment, electric power machinery, food and livestock, metal and metal products, chemicals and chemical products, plastics, yarn, paper |
Imports - partners:
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Saudi Arabia 12.3%, China 7.9%, Egypt 6.2%, UAE 6%, Italy 4.8%, Ukraine 4.8%, Germany 4.8%, Iran 4.5% (2006) |
Reserves of foreign exchange and gold:
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$6.039 billion (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
|
306 USD per capita |
Debt - external:
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$6.465 billion (31 December 2007 est.) |
Debt - external - per capita:
|
328 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
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void |
Economic aid - recipient:
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$213 million (2008 est.) |
Economic aid - recipient per capita:
|
11 USD per capita |
Currency (code):
|
Syrian pound (SYP) |
Exchange rates:
|
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:
|
calendar year |
|
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