सीरियाई अरब गणराज्य

Syrian Economy Profile

Syria is a low-income country in the Middle East, and its economy has faced severe crisis due to civil war since 2011. Before the war in 2010, the Gross Domestic Product (GDP) was approximately $60 billion, but it has now significantly contracted to approximately $12 billion. The traditional main industries of the economy were oil and gas production, agriculture, and tourism, but these have now become dysfunctional.

As an economic overview, Syria once had a relatively stable economic foundation as an oil-exporting country. However, due to the destruction of production facilities by civil war, strengthened international sanctions, and the collapse of infrastructure, the oil industry has rapidly declined. The agricultural sector has also seen a significant decrease in productivity due to drought and conflict. The current economy is limited to almost self-sufficient agriculture and small-scale commercial activities.

Regarding recent economic trends, signs of political peace have emerged in the 2020s, with progress made in Syria's return to the Arab League and strengthening of relations with Iran. Accompanied by this, expectations for international economic support and reconstruction investment have increased. However, the Syrian pound currency has depreciated rapidly, and inflation rates remain extremely high. The unemployment rate exceeds 50%, and approximately 80% of the population is forced to live below the poverty line.

A notable point is that Syria's economic reconstruction requires massive capital investment, and the urgent task is to establish an international support system. Additionally, refugee returns and recovery of human capital are important factors in economic regeneration. At the same time, the continuation of political stability remains an essential prerequisite for economic growth.