Here is your first Forum » Economy of Syria

Syria is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Syria may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Every year Syria exports about US$2.67 billion and imports about US$8.92 billion. 15.2% of the country's population is unemployed. The total number of unemployed in Syria is 2,779,230. In Syria, 11.9% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Syria is low, indicating a stable economy. Investors should consider Syria as a safe place for investment and other financial ventures. Government spending on education is 4.9% of GDP. The country's Gini index is 42. Syria experiences poor equality. The gap between the richest and poorest citizens in this country is quite palpable. Syria has a Human Development Index (HDI) of 0.658. Syria has an upper middle HDI value. This suggests that the majority of citizens will be able to lead a desirable life, although some citizens will not be able to attain a high standard of living. The Global Peace Index (GPI) for Syria is 3,645. Syria's Strength Law Index is 1. Overall, it is considered rather weak – bankruptcy and collateral laws fail to protect borrowers' and lenders' rights in the event of credit-related complications; Credit information, if any, is scarce and difficult to access.

Currency
The currency of Syria is Syrian pound. The plural form of the word Syrian pound is pound. The symbol used for this currency is £ and is abbreviated as SYP. The Syrian pound is divided into piastre; there are 100 in a pound.

Credit rating
The credit depth index for Syria is 2, which means that the information is usually insufficient but can still provide some clarity; Accessibility is still a big issue.

Central bank
In Syria, the institution that manages the state's currency, money supply, and interest rates is called the Central Bank of Syria. Locally, the central bank of Syria is called مصرف سورية المركزي. The average interest rate on deposits offered by local banks in Syria is 1%.

National debt
Syria has a public debt equivalent to 44% of the country's gross domestic product (GDP) as estimated in 2012.

Tax information
Corporate tax in Syria is 22%. Personal income tax ranges from 5% to 15% depending on your specific situation and income level.

Finances
The total Gross Domestic Product (GDP) valued as Purchasing Power Parity (PPP) in Syria is US$121397 billion. The gross domestic product (GDP) per capita calculated as purchasing power parity (PPP) in Syria was last at 7 million US dollars. PPPs in Syria are considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Syria is 35.164 billion. Based on this statistic, Syria is considered to be medium strong. Middle economy countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in mid-sized economies.