Economy of Syria

1963

The Arab Socialist Ba'ath Party came to power in 1963, and adopted socialist policies involving nationalizations and land reform.

1970

After General Hafez al-Assad took power in 1970, restrictions on private enterprise were relaxed, though a substantial part of the economy was still under government control.

1980

By the 1980s, Syria was politically and economically isolated, and in the midst of a deep economic crisis.

1982

Real per capita GDP fell 22% between 1982 and 1989.

1989

Real per capita GDP fell 22% between 1982 and 1989.

1990

In 1990, the Assad government instituted a series of economic reforms, although the economy remained highly regulated.

The Syrian economy experienced strong growth throughout the 1990s, and into the 2000s.

2000

The Syrian economy experienced strong growth throughout the 1990s, and into the 2000s.

2007

However, poor climatic conditions and severe drought badly affected the agricultural sector, reducing its share in the economy to about 17% of 2008 GDP, down from 20.4% in 2007, according to preliminary data from the Central Bureau of Statistics.

2008

However, poor climatic conditions and severe drought badly affected the agricultural sector, reducing its share in the economy to about 17% of 2008 GDP, down from 20.4% in 2007, according to preliminary data from the Central Bureau of Statistics.

2010

Syria's per capita GDP was US$4,058 in 2010.

2011

According to the World Bank, a cumulative total of $226 billion in GDP was lost due to the conflict from 2011 to 2016. The Syrian economy suffered from conflict-related [The Syrian annual inflation rate is one of the highest in the world.

2012

There is no authoritative GDP data available after 2012, due to Syria's civil war. Before the civil war the two main pillars of the Syrian economy were agriculture and oil, which together accounted for about one-half of GDP.

2013

By the end of 2013, the UN estimated total economic damage from the Syrian Civil War at $143 billion.

2015

The total economic loss from the Syrian Civil War will reach $237 billion by the end of 2015, according to the United Nations Economic and Social Commission for Western Asia, with the Syrian opposition's capture of Nasib border crossing costing the government a further $500–$700 million a year on top of this.

2016

According to the World Bank, a cumulative total of $226 billion in GDP was lost due to the conflict from 2011 to 2016. The Syrian economy suffered from conflict-related [The Syrian annual inflation rate is one of the highest in the world.

2018

In 2018, the World Bank estimated that about one-third of Syria's housing stock and one half of its health and education facilities have been destroyed by the conflict.

2020

Sanctions against Syria were further extended by the US Caesar Syria Civilian Protection Act that came into force in June 2020. The sanctions, destruction and dislocation associated with the Civil War have devastated Syria's economy.




All text is taken from Wikipedia. Text is available under the Creative Commons Attribution-ShareAlike License .

Page generated on 2021-08-05