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Following World War I, France acquired a mandate over the northern portion of the former Ottoman Empire province of Syria. The French administered the area as Syria until granting it independence in 1946. The new country lacked political stability and experienced a series of military coups. Syria united with Egypt in February 1958 to form the United Arab Republic. In September 1961, the two entities separated, and the Syrian Arab Republic was reestablished. In the 1967 Arab-Israeli War, Syria lost the Golan Heights region to Israel. During the 1990s, Syria and Israel held occasional, albeit unsuccessful, peace talks over its return. In November 1970, Hafiz al-ASAD, a member of the socialist Ba'th Party and the minority Alawi sect, seized power in a bloodless coup and brought political stability to the country. Following the death of President Hafiz al-ASAD, his son, Bashar al-ASAD, was approved as president by popular referendum in July 2000. Syrian troops - stationed in Lebanon since 1976 in an ostensible peacekeeping role - were withdrawn in April 2005. During the July-August 2006 conflict between Israel and Hizballah, Syria placed its military forces on alert but did not intervene directly on behalf of its ally Hizballah. In May 2007, Bashar al-ASAD's second term as president was approved by popular referendum.

Location

Middle East, bordering the Mediterranean Sea, between Lebanon and Turkey

Natural Resources

petroleum, phosphates, chrome and manganese ores, asphalt, iron ore, rock salt, marble, gypsum, hydropower

Population - distribution

significant population density along the Mediterranean coast; larger concentrations found in the major cities of Damascus, Aleppo (the country's largest city), and Hims (Homs); more than half of the population lives in the coastal plain, the province of Halab, and the Euphrates River valley

22198110
Arabic (official), Kurdish, Armenian, Aramaic, Circassian, French, English
Aleppo 3.562 million; DAMASCUS (capital) 2.566 million; Hims (Homs) 1.641 million; Hamah 1.237 million; Lattakia 781,000 (2015)
Conventional long form
Syrian Arab Republic
Conventional short form
Syria
Local long form
Al Jumhuriyah al Arabiyah as Suriyah
Local short form
Suriyah
presidential republic; highly authoritarian regime
Name
Damascus
Geographic coordinates
33 30 N, 36 18 E
Time difference
UTC+2 (7 hours ahead of Washington, DC, during Standard Time)
Daylight saving time
+1hr, begins midnight on the last Friday in March; ends at midnight on the last Friday in October
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Syria's economy continues to deteriorate amid the ongoing conflict that began in 2011, declining by more than 70% from 2010 to 2016. The government has struggled to address the effects of international sanctions, widespread infrastructure damage, diminished domestic consumption and production, reduced subsidies, and high inflation, which have caused dwindling foreign exchange reserves, rising budget and trade deficits, a decreasing value of the Syrian pound, and falling household purchasing power.
Inflation
36.702%
External debt stocks
US$ 4,419,521,000
Total tax rate (% of commercial profits)
42.7%
Real Interest Rate
3.422%
Manufacturing, value added (% of GDP)
7.994%
Current Account Balance
US$ -367,388,473
Labor Force, Total
4,808,691
Employment in Agriculture
13.23%
Employment in Industry
31.43%
Employment in Services
55.33%
Unemployment Rate
14.31%
Imports of goods and services
US$ 28,020,142,876
Exports of goods and services
US$ 27,988,981,993
Total Merchandise Trade
16.02%
FDI, net inflows
US$ 1,059,495,000
Commercial Service Exports
US$ 7,040,371,020
wheat, barley, cotton, lentils, chickpeas, olives, sugar beets; beef, mutton, eggs, poultry, milk
petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, automobile assembly
Commodities
crude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, textiles, clothing, meat and live animals, wheat
Partners
Iraq 64.7%, Saudi Arabia 11.3%, Kuwait 7.1%, UAE 6.1%, Libya 4.6% (2015)
Commodities
machinery and transport equipment, electric power machinery, food and livestock, metal and metal products, chemicals and chemical products, plastics, yarn, paper
Partners
Saudi Arabia 28.4%, UAE 13.9%, Iran 10.3%, Turkey 9.2%, Iraq 8.4%, China 6.2% (2015)
Country Risk Rating
E
The highest-risk political and economic situation and the most difficult business environment. Corporate default is likely.
Business Climate Rating
E
The highest possible risk in terms of business climate. Due to a lack of available financial information and an unpredictable legal system, doing business in this country is extremely difficult.
  • Strategic geographic position
  • Energy transit country
  • Islamic State controlling part of the country
  • Civil war since 2011
  • Critical economic and financial situation
  • Declining oil production

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