Syria Export Data

Syria's Import/Export Overview and Market Macro Analysis

Imports & Exports

• Top Trade Partners: Syria's major trade partners include Lebanon, Russia, China, Iraq, and the UAE, reflecting its strategic regional and global connections.

• Top 5 Imports: Petroleum products, pharmaceuticals, machinery, foodstuffs, and textiles. These items account for a significant portion of total imports, highlighting the country's reliance on external supplies for essential goods.

• Top 5 Exports: Petroleum, fruits and vegetables, cotton, wool, and phosphates. Exports are dominated by natural resources and agricultural products, which play a crucial role in the country's economy.

• Trade Balance: Syria faces a trade deficit, importing more than it exports. The gap reflects the need for reconstruction materials and consumer goods, which exceeds the capacity of local production.

• Trade Policy Snapshot: Syria's trade policies are focused on diversifying its economy and reducing dependence on imports. The government seeks to promote local industries and increase export competitiveness.

Market Situation

• Consumer Spending: Consumer spending is constrained by economic challenges and high unemployment. Yet, there is a resilient demand for basic necessities and certain luxury items among those with disposable income.

• Interest Rates & Inflation: Inflation rates are high, impacting the purchasing power of the Syrian pound. Interest rates, while used to control inflation, have limited effect due to economic instability and lack of accessible credit.

• Supply Chain Dynamics: Supply chains are disrupted by ongoing conflicts and sanctions, leading to shortages and inflated prices. Efforts are being made to strengthen local supply chains and reduce dependency on imports.

• Sector Performance: The agriculture, construction, and service sectors show signs of recovery, although they face significant challenges. Investment in infrastructure and technology is seen as crucial for future growth.

Overall Outlook

Despite the ongoing economic and political challenges, Syria's efforts to rebuild its economy and diversify its industry hold promise for future stability and growth. The resilience of the Syrian market and its strategic location continue to attract interest from potential investors and trade partners.