Economic Affairs
Economic Office Functions
The Economic Office at the U.S. Embassy in Damascus provides the following services: - Reporting on legislation, policies, and programs adopted by the Syrian Government in the fields of economy and commerce
- Preparing monthly economic reports on key topics covered by the local press
- Providing analysis on the Syrian government annual budget
- Tracking and maintaining an updated database of key economic indicators, including conducting price surveys on a quarterly basis to follow the fluctuation of prices in the Syrian market
Syrian Economic Indicators (2006):
Nominal GDP (in billion USD) | $34.9 billion | Real GDP Growth Rate | 4.4% | Total Population | 20.4 million | Syrian Population | 18.9 million | Iraqi Immigrants | 1.5 million | Local Currency | Syrian Pound (SP): 50 SP/ USD | Inflation | 10% | Current Account Balance | -$2.1 billion | Agricultural Products | Cotton, Wheat, Barley, sugar beets, fruits and vegetables | Main Industries | Petroleum, textiles, food processing, construction and mining | Exports | $10.1 billion (crude oil, textiles and apparel, phosphates, fruits and vegetables) | Importers | EU, Arab countries, U.S., East Europe, and Former USSR States | Imports | $10.6 billion (Machinery, vehicles, petroleum products, foodstuffs, spare parts, metal and metal products) | Suppliers | Germany, Italy, France, Turkey, China, and Ukraine | Natural Resources | Crude oil, natural gas, phosphates, rock salt, asphalt, marble, gypsum, iron ore, chrome, and manganese ore |
Source: IMF 2007 Article IV Consultation
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Commercial Section
