S&P Global Estimates Syria’s GDP Loss Up To $1T Since 2011:
According to S&P Global Market Intelligence’s response to a Forbes Middle East query,
the Syrian economy may have incurred a loss of output amounting to at least $500 billion
and potentially up to $1 trillion in the past 13 years, reflecting the impact of various growth scenarios since 2011.
Content
Details
Details
S&P Global Market Intelligence adds that real value added in agriculture, building,
and construction has plummeted by a minimum of 80% since 2011,
while industrial production has slashed by an estimated 95%.
Crude oil production has seen a staggering 93% decline since 2010,
whereas services have experienced a smaller decrease of around 60%.
The Intelligence expected several economic risks
due to the opposition takeover of Syria on December 8,
with substantial GDP contraction likely in the immediate near term.
However, following years of decline, the potential for a rapid recovery has also increased.
S&P Global Estimates Syria’s GDP Loss Up To $1T Since 2011