Changes

*Industry: Types--mining, manufacturing (textiles, food processing), construction, petroleum.

*Industry: Types--mining, manufacturing (textiles, food processing), construction, petroleum.

*Trade: Exports--$10.2 billion: petroleum, textiles, phosphates, antiquities, fruits and vegetables, cotton. Major markets--EU, Arab countries, United States, New Independent States, Eastern Europe. Imports--$10.8 billion: foodstuffs, metal and metal products, machinery, textiles, petroleum. Major suppliers--Russia, Turkey, Ukraine, China, U.S., Japan.  

*Trade: Exports--$10.2 billion: petroleum, textiles, phosphates, antiquities, fruits and vegetables, cotton. Major markets--EU, Arab countries, United States, New Independent States, Eastern Europe. Imports--$10.8 billion: foodstuffs, metal and metal products, machinery, textiles, petroleum. Major suppliers--Russia, Turkey, Ukraine, China, U.S., Japan.  

 

As a result of an inefficient and corrupt centrally planned economy, Syria has low rates of investment, and low levels of industrial and agricultural productivity. Its GDP growth rate was approximately 2.9% in 2005, according to IMF statistics. The two main pillars of the Syrian economy have been agriculture and oil. Agriculture, for instance, accounts for 25% of GDP and employs 42% of the total labor force. The government hopes to attract new investment in the tourism, natural gas, and service sectors to diversify its economy and reduce its dependence on oil and agriculture. The government has begun to institute economic reforms aimed at liberalizing most markets, but reform thus far has been slow and ad hoc. For ideological reasons, privatization of government enterprises is explicitly rejected. Therefore major sectors of the economy including refining, ports operation, air transportation, power generation, and water distribution, remain firmly controlled by the government.

As a result of an inefficient and corrupt centrally planned economy, Syria has low rates of investment, and low levels of industrial and agricultural productivity. Its GDP growth rate was approximately 2.9% in 2005, according to IMF statistics. The two main pillars of the Syrian economy have been agriculture and oil. Agriculture, for instance, accounts for 25% of GDP and employs 42% of the total labor force. The government hopes to attract new investment in the tourism, natural gas, and service sectors to diversify its economy and reduce its dependence on oil and agriculture. The government has begun to institute economic reforms aimed at liberalizing most markets, but reform thus far has been slow and ad hoc. For ideological reasons, privatization of government enterprises is explicitly rejected. Therefore major sectors of the economy including refining, ports operation, air transportation, power generation, and water distribution, remain firmly controlled by the government.