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Study Shows Massive Drop in Syrian Exports

Syrian overseas trade witnesses $20 million slump since 2014, Damascus Chamber of Industry reports
Study Shows Massive Drop in Syrian Exports

A report by the Damascus Chamber of Industry shows that Syrian exports have declined from $60 million to $40 million in the past year.

The report noted that Syria’s exports of goods and services declined from 16.5 percent of GDP in 2014 to 4 percent this year, adding that Egypt, Jordan and Lebanon are Syria’s main trading partners accounting for 50 percent of GDP, followed by the European Union countries at 4 percent.

European countries’ share of total Syrian imports have decreased from 35.2 percent in 2014 to to 11 percent in 2015.

In a statement released on Nov. 25, the Chamber said: "The exports of the private industrial sector have amounted to 90.4 billion Syrian pounds since the beginning of the current year."

A recent study by the Export’s Development and Promotion Commission showed a decline in Syria's exports of manufactured and semi-manufactured goods over the past five years, while the percentage of raw materials exported rose during the period between 2010-2014, which reflected negatively on export prices and competitiveness in international markets.

According to the same study, raw material exports rose by 15.1 percent in 2013, while Syrian exports of manufactured goods fell by 16.7 percent in the same period.

This article was translated and edited by The Syrian Observer. Responsibility for the information and views set out in this article lies entirely with the author.

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