The regime of Bashar al-Assad left behind a destroyed country, which, due to the temporary vacuum of power, can turn into a “nest” of terrorist organizations. Over the years of the Boers party, the BAAS party, the economy of the Arab Republic has fallen into full decline.
Anadolu Agency with reference to the data of the World Bank, UN, International Monetary Fund (IMF), the World Council for Gold and Data of the Ministry of Trade provides information reflecting the destructive consequences of the BAAS party in Syria.
The Civil War in Syria led to huge suffering, massive movement of the population and huge casualties among the population. The fixed assets of the country and economic activity were also greatly affected by international sanctions.
Against the backdrop of reduction in production, foreign trade and foreign exchange earnings in the country, economic indicators, budget balance and stability of foreign exchange rates,
, have worsened.
, according to estimates, in the period 2010-2020, the gross domestic product (GDP) of Syria doubled. Various sources also argue that the country’s dependence on imported goods, including the main food products, has increased, and local industrial and agricultural production fell into decay.
The country’s GDP was determined in the amount of $ 37.1 billion in 2022 and $ 39.5 billion in 2023. According to estimates, in 2024 this figure will decrease to $ 29.3 billion.
In 2010, GDP of the Arab Republic was at 60 billion dollars. GDP per capita fell from 2 thousand 800 dollars in 2010 to 2 thousand 100 dollars in 2022 and 2023 and is expected to decrease to $ 1600 at the end of this year.
Budget income of the regime also decreased by 35 percent in real terms in 2023 compared to 2022 and 85 percent compared to the period until 2010.
Export and imports reached a record low indicator
oil production, which occupies an important place in the country’s economy and is the main export product, has significantly reduced due to the capture of oil regions that are not related to Assad regime.
Syria’s foreign trade deficit in the period 2007-2011 ranged from 7 to 10 billion dollars a year. The country’s foreign trade began to quickly decrease due to unrest that had begun in March 2011, which grew into a civil war and introduced international sanctions. The volume of foreign trade, which was about $ 29 billion in 2010, decreased to $ 4 billion in 2023.
The country’s import decreased from $ 17.6 billion in 2010 to $ 3.4 billion in 2023, almost reaching the bottom.
So, in 2023, Syria took 176th place in the world with export of $ 650 million (decreased by 40 percent) and 163rd place with imports of $ 3.4 billion (decrease by 34 percent). P>
The most of all of Syria are exported products such as olive oil, calcium phosphate, cotton, spices, canned vegetables, cast -iron scrap, nuts, wheat, and the Arab republic is mainly sunflower oil, wheat flour, oil oils, animal feeds , rice, sugar, cement, tea, electricity and reinforcement.