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El context econòmic de Síria

Economic Indicators

Syria has been plagued by a devastating war since 2011. According to a UN Development Programme report, the war-damaged economy of Syria will take decades to reach pre-conflict levels unless there is a significant acceleration in growth. The country's GDP has dropped to less than half of its 2011 value, and unemployment has tripled. However, the report suggests that with a sixfold increase in annual economic growth, Syria could recover within a decade. However; at current growth rates, Syria’s economy will not regain its pre-conflict GDP level before 2080. The conflict has severely weakened Syria's ability to absorb external economic shocks. In recent years, the economy has faced multiple challenges, including the spillover effects from the economic crises in neighbouring Lebanon and Turkey since late 2019, the COVID-19 pandemic and a subsequent cholera outbreak, the surge in global commodity prices following the war in Ukraine, the February 2023 earthquakes in Syria and Turkey, and more recently, the increased attacks and trade disruptions linked to the ongoing Middle East conflict since October 2023.

In December 2024, a coalition led by Hay'at Tahrir al-Sham (HTS) swiftly overthrew President Bashar al-Assad, ending over six decades of Ba'ath Party rule. Ahmed al-Sharaa, leader of HTS, was appointed President during the transitional period. The new government has initiated significant reforms, including forming a diverse cabinet with representatives from various religious and ethnic groups, such as Hind Kabawat, a Catholic woman appointed as Minister of Labour and Social Affairs. Efforts are underway to rebuild international relations and seek the removal of longstanding sanctions that have strained Syria's economy. Additionally, the government has engaged in negotiations with Kurdish forces to integrate Kurdish fighters into the Syrian army and grant constitutional rights to Kurds. However, challenges persist, including internal resistance from regime loyalists and regional tensions, such as border conflicts with neighbouring Lebanon. According to the World Bank's latest figures, real GDP is expected to decline by 1.5% in 2024 and 1% in 2025, following a 1.2% contraction in 2023.
 Syria's external debt is substantial relative to its ability to repay. The new government has stated that Syria owes between USD 20 billion and USD 23 billion, a significant burden compared to the country's GDP of USD 17.5 billion in 2023, according to the World Bank. Restructuring Syria's debt will be complex. The exact amount of external debt remains unclear, with reports suggesting it could be much higher than the government's estimate, possibly reaching USD 30 billion to USD 50 billion, including claims from Iran and Russia. The composition of creditors complicates restructuring; most debt is likely owed to official sources like Iran and Russia, with minimal commercial debt. Additionally, uncertainty around which entities (government, central bank, state-owned enterprises) hold the debt complicates the process, as different debts may require different treatment. Syria may also refuse to repay Assad-era debt.

On the humanitarian level, the situation is catastrophic. In line with the ongoing decline in per-capita GDP, extreme poverty is projected to rise to 33.1% in 2024 and 37.4% in 2025, pushing more than a third of the population into extreme poverty. The Syrian conflict has caused one of the largest displacement crises since World War II. By the end of 2023, over half of Syria’s pre-conflict population had been displaced, including 7.2 million internally displaced persons and 6.5 million refugees abroad. The already precarious situation of Syrian households has escalated, as reflected in heightened vulnerability. This rise in vulnerability has coincided with an uptick in labour force participation, particularly among workers on the fringes of the labour market, including women, youth, and the elderly, who face limited earning prospects. Meanwhile, government spending continued to be constrained by low revenues and the lack of access to financing. The current account of Syria is expected to remain firmly in deficit because of a high trade deficit, contributing to the drain of foreign exchange reserves.

 
Main Indicators 2023 (E)2024 (E)2025 (E)2026 (E)2027 (E)
GDP (billions USD) 0.000.000.000.000.00
GDP (Constant Prices, Annual % Change) 0.00.00.00.00.0
GDP per Capita (USD) 00000
General Government Gross Debt (in % of GDP) 0.00.00.00.00.0
Inflation Rate (%) 0.00.00.00.00.0
Unemployment Rate (% of the Labour Force) 0.00.00.00.00.0
Current Account (billions USD) 0.000.000.000.000.00
Current Account (in % of GDP) 0.00.00.00.00.0

Source: IMF – World Economic Outlook Database, October 2021

Main Sectors of Industry

Agriculture represents around 43.1% of Syria’s GDP, a share that has doubled since the beginning of the civil war in 2011 and is estimated to employ 15% of the workforce (World Bank, latest data available). Agriculture has always been a fragile sector since it directly depends on climate conditions and especially on water scarcity, a key regional factor. Moreover, between 2011 and 2016, Syria's rural population declined by 50%, causing major losses in crop and livestock production, damage to irrigation systems and farmland, and rising costs of essentials like seeds, fertilisers, and pesticides. Repeated droughts have worsened the situation, increasing the country’s vulnerability to climate change and discouraging investment in agriculture. Syria covers 18.5 million hectares, with about 32.8%—around 6.5 million hectares—classified as arable or forested. The rest consists mainly of arid land in the Syrian Desert. Spices, olive and olive oil, cotton, wheat and barley are among the main crops and exports. According to FAO, Syria's cereal production in 2024 was estimated at 3.4 million tonnes—13% below the five-year average and 33% below pre-crisis levels—mainly due to poor rainfall, high temperatures, disease outbreaks, and high input costs.

Industry as a whole accounts for 12% of the economy and employs around 22% of the workforce (World Bank). The hydrocarbon sector is essential to the Syrian economy and contributes up to 65% of the country’s exports. Since the start of the conflict, industrial production declined, affected by shortages in fuel and power, limited access to capital, severe destruction of infrastructure, and the relocation of major manufacturing bases. The public sector has a prominent role in the Syrian industry. Syria's public industrial sector is experiencing structural changes, with governmental consideration of various mergers. As an example, in early January 2024, two entities were merged under a newly established General Company for Cement and Building Materials Manufacture and Marketing.

The Syrian tertiary sector encompasses a range of industries including retail, tourism, telecommunications, finance, and healthcare, playing a pivotal role in the country's economy. Overall, the sector accounts for 44.9% of GDP and 63% of total employment. Before the 2011 uprising, tourism stood as one of Syria's most rapidly advancing economic sectors. By 2010, the country welcomed 9.45 million visitors, making tourism the second-largest foreign currency earner after oil exports, contributing approximately 13.7% to the nation's GDP. Syria’s financial and banking sector includes banks, microfinance institutions, and exchange offices regulated by the Central Bank. It also comprises the Damascus Securities Exchange, overseen by the Financial Markets Commission, and insurance companies under the Insurance Supervisory Commission.

 
Breakdown of Economic Activity By Sector Agriculture Industry Services
Employment By Sector (in % of Total Employment) 15.0 21.8 63.1
Value Added (in % of GDP) 43.1 12.0 44.9
Value Added (Annual % Change) -6.1 -13.4 4.6

Source: World Bank, Latest Available Data. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 

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Indicator of Economic Freedom

Definition:

The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.}}

Score:
N/A/100
World Rank:
N/A
Regional Rank:
N/A

Economic freedom in the world (interactive map)
Source: Index of Economic Freedom, Heritage Foundation

 
 

Country Risk

See the country risk analysis provided by Coface.
 

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Sources of General Economic Information

Ministries
Ministry of the Economy
Ministry of Finance (in Arabic)
Statistical Office
Central Bureau of Statistics
Central Bank
Central Bank of Syria (in Arabic)
Stock Exchange
Damascus Securities Exchange
Economic Portals
Library of Congress
Dmoz
Araboo
 

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Actualitzacions: May 2025

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