Economy in Syria

Syria has slowly become a major player in the world's economy and is a leader among middle-eastern countries. Syria is considered to be in a middle-income nation and the developing country has a very diverse and stable economy. The main industries in Syria are agriculture, energy, and commerce. While the government and major business owners may be well off the majority of Syrians struggle to earn a decent living. Syria has been affected by the recent world economic problems and has roughly an 20% unemployment rate.

Commerce has long been essential to the economy of Syria because of the nation's location among major trade routes. Syrian business men and women rely o­n industries that range from weaving and fruit packing to heavy civil construction. The majority of the country's import materials are raw materials that are eventually used for agriculture and commerce. Crude and refined oil is by far the largest export of the country but other products such as cotton, fruits, grains, and clothing are essential exports for the nation.

The country used to rely o­n foreign aid and has accumulated a large amount of debt. However, during recent years the government has made an effort to pay off much of that debt. The country has also been forgiven much of its debt from countries such as Russia, the major contributor of foreign aid to Syria.

Most of the Syrian work force is put to work in agriculture. About 39.7 percent of the labor force is employed by the government services sector. Just under 70 percent of all Syrians earn less than o­ne hundred dollars per month. More than 700,000 homes in Syria reportedly have no income.