Short facts about the economy in Syria
| Economy -
overview: |
Syria's predominantly statist economy
is on a shaky footing because of Damascus's failure to implement extensive
economic reform. The dominant agricultural sector remains underdeveloped, with
roughly 80% of agricultural land still dependent on rain-fed sources. Although
Syria has sufficient water supplies in the aggregate at normal levels of
precipitation, the great distance between major water supplies and population
centers poses serious distribution problems. The water problem is exacerbated by
rapid population growth, industrial expansion, and increased water pollution.
Private investment is critical to the modernization of the agricultural, energy,
and export sectors. Oil production is leveling off, and the efforts of the
nonoil sector to penetrate international markets have fallen short. Syria's
inadequate infrastructure, outmoded technological base, and weak educational
system make it vulnerable to future shocks and hamper competition with neighbors
such as Jordan and Israel. The government recognizes the need to open the
economy to additional domestic and foreign
investment. |
| GDP: |
purchasing power parity - $50.9 billion
(2000 est.) |
| GDP - real
growth rate: |
3.5% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $3,100 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 29%
industry: 22%
services: 49%
(1997) |
| Population
below poverty line: |
15%-25% |
| Household
income or consumption by percentage share: |
lowest 10%: NA%
highest 10%:
NA% |
| Inflation
rate (consumer prices): |
1.5% (2000
est.) |
| Labor
force: |
4.7 million (1998
est.) |
| Labor force
- by occupation: |
agriculture 40%, industry 20%, services
40% (1996 est.) |
| Unemployment
rate: |
20% (2000
est.) |
| Budget: |
revenues: $2.25 billion
expenditures: $5.4 billion, including
capital expenditures of $NA (2000 est.) |
| Industries: |
petroleum, textiles, food processing,
beverages, tobacco, phosphate rock mining |
| Industrial
production growth rate: |
NA% |
| Electricity
- production: |
17.94 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 57.64%
hydro: 42.36%
nuclear:
0%
other: 0% (1999) |
| Electricity
- consumption: |
16.684 billion kWh
(1999) |
| Electricity
- exports: |
0 kWh
(1999) |
| Electricity
- imports: |
0 kWh
(1999) |
| Agriculture
- products: |
wheat, barley, cotton, lentils,
chickpeas, olives, sugar beets; beef, mutton, eggs, poultry,
milk |
| Exports: |
$4.8 billion (f.o.b., 2000
est.) |
| Exports -
commodities: |
petroleum 65%, textiles 10%,
manufactured goods 10%, fruits and vegetables 7%, raw cotton 5%, live sheep 2%,
phosphates 1% (1998 est.) |
| Exports -
partners: |
Germany 21%, Italy 12%, France 10%,
Saudi Arabia 9%, Turkey 8% (1999 est.) |
| Imports: |
$3.5 billion (f.o.b., 2000
est.) |
| Imports -
commodities: |
machinery and equipment 23%,
foodstuffs/animals 20%, metal and metal products 15%, textiles 10%, chemicals
10% (1998 est.) |
| Imports -
partners: |
France 11%, Italy 8%, Germany 7%,
Turkey 5%, China 4% (1999 est.) |
| Debt -
external: |
$22 billion (2000
est.) |
| Economic aid
- recipient: |
$199 million (1997
est.) |
| Currency: |
Syrian pound
(SYP) |
| Exchange
rates: |
Syrian pounds per US dollar - 46
(2000), 46 (1998), 41.9 (January 1997) |
| Fiscal
year: |
calendar year | Source: World Factbook |
