The Minister of Economy, Adib Mayaleh, has provided new data for Syria’s foreign trade in 2016.
The success last week of regime forces in linking areas under their control with those of the Kurdish PYD will likely improve supplies of energy and agricultural products in Damascus and other parts of the country, lower costs and provide a small boost to economic activity.
Despite a decline in its exports to Syria last year, Turkey remained an important trading partner.
The Syrian government, which is largely isolated from western countries, continues to try to build economic ties with other countries, although, six years after the beginning of the uprising, the impact of these efforts is hardly successful.
The attempt by the Syrian government to lure back investors who fled the country is facing resistance from regime cronies, reflecting the obstacles that any serious reconstruction drive will face.
Syria’s consumer prices increased by more than 50 percent last August, the most recent date for which official data are available.
Preliminary data from the Syrian government suggest that the trade deficit decreased last year as imports fell by almost a third.
Consumer prices continued to rise steeply in the middle of last year, new data indicate.
The Syrian Minister of Economy has said that western companies will not benefit from reconstruction contracts unless their governments apologised to the Syrian people.
China is providing a grant to the Syrian government, the first such known deal since the beginning of the uprising.
Syria’s trade with Lebanon felt last year to its lowest level in fifteen years although much of the bilateral trade remains informal.
The release of the preliminary financial statements of Syria’s listed companies provides an initial picture on the performance of Syrian businesses last year.
Syria’s Prime Minister has said that no country other than Iran has provided any help to his country.
International organisations plan to spend this year USD 8.0 billion on refugees, IDPs and host communities in Syria and neighbouring countries, an amount that will help boost somewhat the Syrian and regional economies.
Syria’s inflation rate in June 2016, the last month for which data is available, rose to its highest rate in some three years.
Damascus 1st Tourism Shopping Festival
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