Customs (298)


The volume of trade in Syria’s free trade zones reached SYP 56 billion in the first ten months of the year, a figure that marks a strong decline from previous years.


Trade between Turkey and Syria, once buoyant, continued to fall in the third quarter of this year.


Customs fees generated by the Syrian government fell 18 percent in the first eight months of this year over a decline in foreign trade, according to the Syrian Customs.


The increase in Syria’s inflation rate accelerated in June to 36.10 percent on annual basis as the government hiked the prices of gas oil and cooking gas while food prices remained high.


Trade with Turkey, one of Syria’s largest trading partners until last year, continued to dive and fell some 67 percent on an annual basis in the first half of this year, in line with the decline witnessed in the first three months of 2012.


The rising violence of the last week took its toll on the Syrian Pound which crossed the level of 70 pounds per dollar in the black market and remained above that level at the beginning of this week in spite of some small gains.


Syria’s state cement plants sold a total of 2.4 million tons in the first half of this year.


Bilateral trade between Lebanon and Syria remained remarkably stable in the first five months of this year.


The English transcript of the interview of Syrian President Bashar Al-Assad with Iranian TV on June 28, 2012.


Syria ranked only 108th in the world in the latest edition of the Enabling Trade Index of the World Economic Forum.


Syria ranked 92nd in the world in the 2012 edition of the Logistics Performance Index of the World Bank, a survey that measures the logistics “friendliness” of a country.


Mohammad Jleilati, the Minister of Finance, has said that his government was finalising discussions with Russia to print money there, a move that signals a potentially growing economic dependency of the Syrian government towards Moscow.


Syria’s inflation rate reached 30.7 percent in March on an annual basis, according to official statistics, more than double its rate of only two months earlier.


Bilateral trade between Syria and Turkey fell 63 percent in the first quarter of this year compared to the same period of 2011.


Syria and Iran have reduced customs tariffs levied on goods exchanged between them to 4 percent starting April 28, 5 years ahead of the target.


The budget of the Damascus Governorate, one of the wealthiest in the country, will stand at around SYP 25 billion this year.


The Ministry of Economy has announced that within a week it will publish a compulsory price list for key commodity items as the Government tries to calm rising anger over the continuing increase in consumer prices.


The state-owned General Organisation for Textile Industy has contracted with an Iranian company to export some USD 30 million worth of yarns, a deal that would represent three times Syria’s 2010 exports to Iran.


The Syrian Government has raised customs tariffs on a wide range of consumer goods, reverting further a decade-old policy of trade liberalisation and risking an additional increase in consumer prices in the local market.


Updated February 23: The number of vehicles on Syrian roads rose 7.88 percent to 2.21 million last year, according to the Ministry of Transport.


Syria and Iran will start applying on March 21 a bilateral preferential trade agreement, a deal the Syrian Government hopes will increase exports and partly reverse the impact of the steep decline in foreign currency earnings it is facing.


Syria’s official inflation rate almost doubled in December, partially reflecting the steep increase in prices witnessed in the local market in recent weeks.


Syria’s trade with Turkey fell 15 percent last year over the political unrest and the suspension of the free trade agreement linking the two countries although until the third quarter of 2011 year-on-year figures remained stable.


Imperial Tobacco and JTI, two of the largest global tobacco firms, have acknowledged that their operations had been impacted by the unrest in Syria and the sanctions imposed by the EU and US on Syrian individuals and companies.


Updated January 30: Exports of crude oil and related products represented almost half of all Syrian export revenues in 2010 – from a third in 2009 - a figure that confirms the significant impact that the ban imposed by the EU and other western countries on oil exports is having on the country’s foreign currency earnings.


The Central Bank of Syria has removed the restrictions on the sale of foreign exchange to importers and again allowed local banks to sell foreign currencies to finance their imports.


The English transcript of the speech of Syrian President Bashar Al-Assad at Damascus University on January 10, 2012.


The Syrian economy has been greatly damaged by the crisis gripping the country, the Minister of Economy, Nidal Al-Shaar said.


Taxes and fees collected in Damascus by the Ministry of Finance rose 11 percent in the first eleven months of last year, according to Al-Watan, a local daily.


The Central Bank of Syria has increased the selling price of the Syrian Pound relative to the US Dollar to above 57 Pounds as it seeks to clamp down on the black market.


Deteriorating political relations between Syria and Turkey are having an increasingly negative impact on Turkish companies doing business in Syria.


The agreement establishing a Preferential Trade Area between Iran and Syria entered into force last week after the Iranian Parliament approved the bill for that purpose, at a time sanctions are having an increasingly serious impact on the Syrian economy. 


Turkey is imposing a 30 percent customs tariff on all Syrian goods entering its territory in retaliation over a similar measure announced this week by Syria.


The international community has continued to raise the heat on the Syrian Government through new economic sanctions with Turkey joining in and the EU announcing new significant measures.


Transport, logistics and customs clearance; trade all kinds of materials including building materials, detergents and foodstuff 


Updated November 21: The consumption of heating oil in Syria jumped last month as the coming winter season is leading a growing number of Syrians to store the product, while attacks on the distribution network are also disrupting supplies.


Gulfsands Petroleum has announced that it has not received payment for its August production, raising fears for the company's prospects as well as for the government's finances.


A Presidential decree has increased customs tariffs on cars and other vehicles in an apparent bid by the government to reduce imports.


Syria’s inflation rate remained largely under control in the last few months, according to data from the Central Bureau of Statistics, although figures are not yet available for the period that followed the temporary import ban.


Only a few days after it imposed a wide scale ban on imports, the Syrian government reversed its decision, confirming that it had no clear economic strategy without dispelling fears on the state of the country’s foreign currency reserves.


Syria is considering joining a customs union with Russia, according to AbdulFattah Ammoura, the country’s deputy Foreign Minister.


Movie theatres will be exempted from customs duties on the import of their equipment as well as from other taxes for a period of 5 years in a move aimed at boosting their operations.


The Syrian government has announced that it is rescheduling the debts of farmers and manufacturers that had contracted loans with state-owned banks in a bid to ease the financial pressures on them. 


Following growing outcry from Syria’s business community, the Syrian government has decided to expand the list of products exempted from the import ban announced on September 23.


Syria has banned the import of all products with customs tariffs of more than 5 percent, a move that signals growing nervousness over the country's foreign currency reserves and also dents into the profits of many prominent businessmen that have built their wealth on import trade.


The Syrian President has set his seal on a preferential trade agreement linking Syria with Iran that will see customs tariffs between the two countries gradually lowered in the next five years.