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Syria is a middle-income, developing country with a diversified economy based on agriculture, industry, and energy. Its current GDP per capita expanded 80% in the Sixties reaching a peak growth of 336% in the Seventies. But this proved unsustainable and it shrank by 33% in the Eighties. However current GDP per capita registered a modest growth of 12% in the Nineties due to successful diversification. Wikipedia does not have an article with this exact name. ...

Syria is a middle-income, developing country with a diversified economy based on agriculture, industry, and energy. During the 1960s, citing its state socialist ideology, the government nationalized most major enterprises and adopted economic policies designed to address regional and class disparities. This legacy of state intervention and price, trade, and foreign exchange controls still hampers economic growth, although the government has begun to revisit many of these policies, especially in the financial sector and the country's trade regime. Despite a number of significant reforms and ambitious development projects of the early 1990s, as well as more modest reform efforts currently underway, Syria's economy still is slowed by large numbers of poorly performing public sector firms, low investment levels, and relatively low industrial and agricultural productivity. Socialism is a social and economic system (or the political philosophy advocating such a system) in which the economic means of production are owned and controlled collectively by the people. ... An ideology is an organized collection of ideas. ... Nationalization is the act of taking assets into state ownership. ... Social class refers to the hierarchical distinctions between individuals or groups in societies or cultures. ... Foreign exchange has several meanings: In telecommunications, Foreign exchange service is a type of network service. ... Finance studies and addresses the ways in which individuals, businesses and organizations raise, allocate and use monetary resources over time, taking into account the risks entailed in their projects. ... The public sector is that part of economic and administrative life that deals with the delivery of goods and services by and for the government, whether national, regional or local/municipal. ... Investment or investing is a term with several closely-related meanings in finance and economics, related to saving or deferring consumption. ...

Despite the mitigation of the severe drought that plagued the region in the late 1990s and the recovery of energy export revenues, Syria's economy faces serious challenges. With almost 60% of its population under the age of 20, unemployment higher than the current estimated range of 20%-25% is a real possibility unless sustained and strong economic growth takes off. Oil production has levelled off, but recent agreements allowing increased foreign investment in the petroleum sector may boost production in two to three years. A drought or an extreme dry periodic climate is an extended period where water availability falls below the statistical requirements for a region. ... In economics, a person who is able and willing to work at prevailing wage rate yet is unable to find a paying job is considered unemployed. ... Pumpjack pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and elaion – oil or Latin oleum – oil ), crude oil, sometimes colloquially called black gold or Texas Tea, is a thick, dark brown or greenish liquid. ...

Taken as a whole, Syrian economic reform thus far has been incremental and gradual, with privatization not even on the distant horizon. The government, however, has begun to address structural deficiencies in the economy such as the lack of a modern financial sector through changes to the legal and regulatory environment. In 2001, Syria legalized private banking. In 2004, four private banks began operations. In August 2004, a committee was formed to supervise the establishment of a stock market. Beyond the financial sector, the Syrian Government has enacted major changes to |rental and tax laws, and is reportedly considering similar changes to the commercial code and to other laws, which impact property rights. Privatization (sometimes privatisation, denationalization, or, especially in India, disinvestment) is the process of transferring property from public ownership to private ownership and/or transferring the management of a service or activity from the government to the private sector. ... Private banking is a term which covers both of the services which banks give to individuals usually with liquid wealth of above 1 million dollars, and also the division of that entity which does checking, savings, and loans for that clientele. ... A bank is an institution that provides financial service, particularly taking deposits and extending credit. ... The New York Stock Exchange A stock market is a market for the trading of company stock, and derivatives of same; both those securities listed on a stock exchange as well as those only traded privately. ... In economic theory, economic rent is an analytic term employed to distinguish the difference between the income earned by an input or factor of production, and the cost of the factor of production. ... A tax (also known as a dutyor Zakat in islamic economics) is a charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ... Commerce is the trading of something of value between two entities. ... // Use of the term The concept of property or ownership has no single or universally accepted definition. ...

Commerce has always been important to the Syrian economy, which benefited from the country's location along major east-west trade routes. Syrian cities boast both traditional industries such as weaving and dried-fruit packing and modern heavy industry. Given the policies adopted from the 1960s through the late 1980s, Syria failed to join an increasingly interconnected global economy. In late 2001, however, Syria submitted a request to the World Trade Organization to begin the accession process. Syria had been an original contracting party of the former General Agreement on Tariffs and Trade but withdrew in 1951 because of Israel's joining. Major elements of current Syrian trade rules would have to change in order to be consistent with the WTO. Syria is intent on signing an Association Agreement with the European Union that would entail significant trade liberalization. A trade route is the sequence of pathways and stopping places used for the commercial transport of cargo. ... Tweed loom, Harris, 2004 Weaving is an ancient textile art and craft that involves placing two sets of threads or yarn made of fiber called the warp and weft of the loom and turning them into cloth. ... Fruit stall in Barcelona, Catalonia. ... Heavy industry does not have a single fixed meaning compared to light industry. ... The world economy can be represented various ways, and broken down in various ways. ... WTO Logo The World Trade Organization (WTO) is an international, multilateral organization, which sets the rules for the global trading system and resolves disputes between its member states, all of whom are signatories to its about 30 agreements. ... General Agreement on Tariffs and Trade (typically abbreviated GATT) functioned as the precursor to the World Trade Organization trading system. ... A European Union Association Agreement (Association Agreement) is a treaty between the European Union (EU) and a non-EU country that creates a framework for co-operation between them. ...

The bulk of Syrian imports have been raw materials essential for industry, agriculture, equipment, and machinery. Major exports include crude oil, refined products, raw cotton, clothing, fruits, and cereal grains. Earnings from oil exports are one of the government's most important sources of foreign exchange. Nodding donkey pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and oleum – oil), crude oil, sometimes colloquially called black gold, is a thick, dark brown or greenish liquid. ... Cotton ready for harvest. ... Men and women wearing suits, an example of one of the many modern forms of clothing (from the 1937 Chicago Woolen Mills catalog) Clothing is optional, in its broadest sense, as coverings for the torso and limbs as well as coverings for the hands (gloves), feet (socks, shoes, sandals, boots... This article is about grains in general. ...

Of Syria's 72,000 square miles (186,000 km²), roughly one-third is arable, with 80% of cultivated areas dependent on rainfall for water. In recent years, the agriculture sector has recovered from years of government inattentiveness and drought. Most farms are privately owned, but the government controls important elements of marketing and transportation. A square mile is an Imperial unit of area equal to that of a square with sides each 1 statute mile (5,280 feet, 1,760 yards, 1,609. ... In geography, arable land is a form of agricultural land use, meaning land that can be (and is) used for growing crops. ... In meteorology, precipitation is any kind of water that falls from the sky as part of the weather. ... A girl in a swimming pool Water (from the Old English waeter; c. ... Bales of hay on a farm near Ames, Iowa A farm is the basic unit in agriculture. ...

The government has redirected its economic development priorities from industrial expansion into the agricultural sectors in order to achieve food self-sufficiency, enhance export earnings, and stem rural migration. Thanks to sustained capital investment, infrastructure development, subsidies of inputs, and price supports, Syria has gone from a net importer of many agricultural products to an exporter of cotton, fruits, vegetables, and other foodstuffs. One of the prime reasons for this turnaround has been the government's investment in huge irrigation systems in northern and northeastern Syria, part of a plan to increase irrigated farmland by 38% over the next decade. This article is about non-human migration. ... Capital has a number of related meanings in economics, finance and accounting. ... This article or section contains information that has not been verified and thus might not be reliable. ... Vegetables in a market Venn diagram representing the relationship between (botanical) fruits and vegetables. ... High-altitude aerial view of irrigation in the Heart of the Sahara Irrigation (in agriculture) is the replacement or supplementation of rainfall with water from another source in order to grow crops. ...

Syria has produced heavy-grade oil from fields located in the northeast since the late 1960s. In the early 1980s, light-grade, low-sulphur oil was discovered near Dayr az Zawr in eastern Syria. This discovery relieved Syria of the need to import light oil to mix with domestic heavy crude in refineries. Recently, Syrian oil production has been about 530,000 barrels per day. Although its oil reserves are small compared to those of many other Arab states, Syria's petroleum industry accounts for a majority of the country's export income. The government has successfully begun to work with international energy companies to develop Syria's promising natural gas reserves, both for domestic use and export. U.S. energy firm, ConocoPhillips, completed a large natural gas gathering and production facility for Syria in late 2000, and will continue to serve as operator of the plant until December 2005. In 2003, Syria experienced some success in attracting U.S. Petroleum companies, signing an exploration deal with partners Devon Energy and Gulfsands and a seismic survey contract with Veritas. Nodding donkey pumping an oil well near Sarnia, Ontario Petroleum (from Greek petra – rock and oleum – oil), crude oil, sometimes colloquially called black gold, is a thick, dark brown or greenish liquid. ... View of Shell Oil Refinery in Martinez, California. ... The barrel is the name of several units of measurement. ... ConocoPhillips (NYSE: COP) is an international energy company with its headquarters located in Houston. ... Natural gas, commonly referred to as gas, is a gaseous fossil fuel consisting primarily of methane. ... Devon Energy Corporation (NYSE: DVN), headquartered in Oklahoma City, USA is a Fortune 500 company. ... In Roman mythology, Veritas (truth) was the goddess of truth and a daughter of Saturn. ...

Ad hoc economic liberalization continues to provide hope to Syria's private sector. In 1990, the government established an official parallel exchange rate (neighboring country rate) to provide incentives for remittances and exports through official channels. This action improved the supply of basic commodities and contained inflation by removing risk premiums on smuggled commodities. Ad hoc is a Latin phrase which means for this [purpose]. It generally signifies a solution that has been tailored to a specific purpose, such as a tailor-made suit, a handcrafted network protocol, and specific-purpose equation and things like that. ... In general, liberalization refers to a relaxation of previous government restrictions, usually in areas of social or economic policy. ... The private sector of a nations economy consists of those entities which are not controlled by the state - i. ...

Over time, the government has increased the number of transactions to which the more favorable neighboring country exchange rate applies. The government also introduced a quasi-rate for non-commercial transactions in 2001 broadly in line with prevailing black market rates. Exchange-rate unification remains an elusive goal as pressure is building for Syria to harmonize its exchange rate system. The black market or underground market is the part of economic activity involving illegal dealings, typically the buying and selling of merchandise or services (for example sexual services in many countries) illegally. ...

Given the poor development of its own capital markets and Syria's lack of access to international money and capital markets, monetary policy remains captive to the need to cover the fiscal deficit. Although in 2003 Syria lowered interest rates for the first time in 22 years and again in 2004, rates remain fixed by law. In a positive move in 2003, Syria canceled an old and troublesome law governing foreign currency exchange; however, new regulations have yet to be implemented. Some basic commodities continue to be heavily subsidized, and social services are provided for nominal charges. The capital market (securities markets)is the market for securities, where companies and the government can raise long-term funds. ... A budget deficit occurs when an entity (often a government) spends more money than it takes in. ... An interest rate is the price a borrower pays for the use of money he does not own, and the return a lender receives for deferring his consumption, by lending to the borrower. ...

Syria has made progress in easing its heavy foreign debt burden through bilateral rescheduling deals with virtually all of its key creditors in Europe. In May 2005, Russia and Syria signed a deal that wrote off nearly three-quarters of Syria's debt to Russia, approximately €10.5 billion ($13 billion). The agreement left Syria with less than €3 billion (just over $3.6 billion) owed to Moscow. Half of it would be repaid over the next 10 years, while the rest would be paid into Russian accounts in Syrian banks and could be used for Russian investment projects in Syria and for buying Syrian products. Government debt (also known as public debt or national debt) is money owed by any level of government; either central government, federal government, municipal government or local government. ... A creditor is a party (e. ... Europe is conventionally considered one of the seven continents of Earth which, in this case, is more a cultural and political distinction than a physiographic one, leading to some dispute as to Europes actual borders. ...