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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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