Economy

The Syrian economy is a multi-researched economy based on agriculture, industry, and trade.

Since 1989 the oil and natural gas sector has witnessed a great investment and has become one of the essential resources for the development of the Syrian economy. Syria’s economy have undergone a profound transformation since the early 1970’s and is now pluralist; a mix between public, private and joint sectors.

The agriculture sector is still predominant and continues to serve as an important engine in the country's economic and social development. It accounts for 31% of the GDP and 23% of employment. The most common crops are wheat, barley, cotton, vegetables, citrus fruits, olives, tobacco and sugar beet.The industrial sector is vibrant employing 29% of the labor force and contributes 22% to the GDP. The main industries are food processing and textiles.

Over the past four years, the economy has continued its expansion (an average of 7-8% per annum of real growth), due to a relaxation of economic controls and increased domestic investment and private sector growth. The introduction of Investment Law No. 10 formed the cornerstone of the government's turn toward the private sector.

 

 
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