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Syria
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Last Updated: Jan 21st, 2009 - 22:25:00 |
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Economy - overview:
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Syria's predominantly statist economy lately has been growing more slowly than its 2.4% annual population growth rate. Recent legislation allows private banks to operate in Syria, although a private banking sector will take years and further government cooperation to develop. Factors, including the war between the US-led coalition and Iraq, probably drove real annual GDP growth levels back below 1% in 2003 following growth of 3.5% in 2001 and 4.5% in 2002. A long-run economic constraint is the pressure on water supplies caused by rapid population growth, industrial expansion, and increased water pollution.
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GDP:
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purchasing power parity - $58.01 billion (2004 est.)
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GDP - real growth rate:
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0.9% (2004 est.)
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GDP - per capita:
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purchasing power parity - $3,300 (2004 est.)
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GDP - composition by sector:
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agriculture: 28.5%
industry: 29.4%
services: 42.1% (2003 est.)
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Investment (gross fixed):
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13.6% of GDP (2004 est.)
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Population below poverty line:
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20% (2004 est.)
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Household income or consumption by percentage share:
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lowest 10%: NA
highest 10%: NA
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Inflation rate (consumer prices):
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1.5% (2004 est.)
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Labor force:
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4.97 million (2004 est.)
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Labor force - by occupation:
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agriculture, industry, services NA
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Unemployment rate:
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20% (2002 est.)
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Budget:
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revenues: $6.106 billion
expenditures: $7.397 billion, including capital expenditures of $3.6 billion (2004 est.)
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Public debt:
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89% of GDP (2004 est.)
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Agriculture - products:
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wheat, barley, cotton, lentils, chickpeas, olives, sugar beets; beef, mutton, eggs, poultry, milk
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Industries:
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petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining
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Industrial production growth rate:
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NA
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Electricity - production:
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23.26 billion kWh (2001)
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Electricity - consumption:
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21.63 billion kWh (2001)
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Electricity - exports:
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0 kWh (2001)
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Electricity - imports:
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0 kWh (2001)
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Oil - production:
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522,700 bbl/day (2004 est.)
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Oil - consumption:
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265,000 bbl/day (2001 est.)
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Oil - exports:
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NA (2001)
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Oil - imports:
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NA (2001)
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Oil - proved reserves:
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2.4 billion bbl (2004)
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Natural gas - production:
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5.84 billion cu m (2001 est.)
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Natural gas - consumption:
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5.84 billion cu m (2001 est.)
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Natural gas - exports:
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0 cu m (2001 est.)
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Natural gas - imports:
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0 cu m (2001 est.)
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Natural gas - proved reserves:
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240.7 billion cu m (2004)
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Current account balance:
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$-72 million (2003)
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Exports:
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$5.143 billion f.o.b. (2004 est.)
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Exports - commodities:
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crude oil, petroleum products, fruits and vegetables, cotton fiber, clothing, meat and live animals, wheat
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Exports - partners:
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Germany 20.9%, Italy 12.6%, UAE 7.6%, Lebanon 6.2%, Turkey 6%, France 5.4%, Croatia 4.8%, US 4.1% (2003)
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Imports:
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$4.845 billion f.o.b. (2003 est.)
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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
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Imports - partners:
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Germany 7.2%, Italy 7.1%, China 6.3%, France 5.9%, Turkey 5.4% (2003)
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Reserves of foreign exchange & gold:
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$3.329 billion (2004 est.)
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Debt - external:
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$21.55 billion (2004 est.)
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Economic aid - recipient:
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$199 million (1997 est.)
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Currency:
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Syrian pound (SYP)
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Currency code:
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SYP
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Exchange rates:
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Syrian pounds per US dollar - (Official rate): 11.225 (2003), 11.225 (2002), 11.225 (2001), 11.225 (2000), 11.225 (1999), (Free market rate): 49.65 (2001), 49.4 (2000), 51.7 (1999)
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Fiscal year:
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calendar year
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Keywords: Syria Economy, Syria, Economy, country of Syria, general information, country reports, classbrain, country information, Economy on Syria, ClassBrain,
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