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Syria
- Economy
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Overview
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Syrian economic growth slowed to 1.8% in 2009 as the global economic crisis affected oil prices and the economies of Syria's key export partners and sources of investment. 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 was set to begin operations in 2009. 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, rising budget deficits, and increasing pressure on water supplies caused by heavy use in agriculture, rapid population growth, industrial expansion, and water pollution.
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GDP
(Gross
domestic product) |
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Purchasing
power parity:
$ 101,000,000,000
USD (2009)
Rank: 67
Official
exchange rate:
$52.52 billion
Composition by
sector
- agriculture: 24%
- industry: 18%
- services: 58%
Per capita: $ 4,600
(2009 est.)
Rank: 149
Real growth rate: 5
(2009 est.)
Rank: 29
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Industrial Sector &
Agriculture |
Industries: petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing
Industrial production growth rate: 6
(2009 est.)
Rank: 54
Agriculture - products: wheat, barley, cotton, lentils, chickpeas, olives, sugar beets; beef, mutton, eggs, poultry, milk
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Labor Force
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Labor force: 5,505,000
(2006 est. )
Rank: 64
by
occupation: agriculture: 26%; industry: 14%; services: 60% (2003 est.)
Unemployment rate:
8.5
(2009 est.)
Rank: 97
Population below poverty
line: 11.9%
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Financial Data |
Currency: Syrian pound (SYP)
Code:
SYPSY
Exchange rates: 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)
Currency Calculator
Current
account balance: $ -326,000,000
(2009 est.)
Rank: 51
Budget
2006
- revenues:
revenues: $7.635 billion
- expenditures: expenditures: $9.38 billion; including capital expenditures of $3.82 billion (2006 est.)
Inflation rate: 2,6
(2009 est.
Rank: 91
Reserves: $ 4,104,000,000
USD (2005)
Rank: 71
Investment: 17.8
(2009)
Rank: 116
Public Debt:
31.9
USD (2009 est.)
Rank: 79
Debt - external: $21.55 billion (2003 est.)
(31 December 2009 est.)
Rank: 89
Economic Aid - Donor:
Economic Aid - Recipient: $77.85 million (2005 est.)
Household income by percentage share highest
10%: NA
Household income by percentage share lowest 10%: NA
Bezugsjahr:
Gini Index:
Gini Index US:
Gini Index Bezugsjahr:
Corruption Index: 2.5
Corruption Rank: 127
Tourismus:
Tourismus-Einnahmen:
Fiscal year: calendar year
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Source:
CIA
World Factbook. This page was last updated on
18 February, 2011
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