Syria Export, Import and Trade

June 29, 2010Syriaby EconomyWatch

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Syria Import and Export Indicators and Statistics at a Glance

Total value of eports: $12.84 billion (2010 estimate)
Primary export items: crude oil, minerals, petroleum products, fruits and vegetables, cotton fiber, textiles, clothing, meat and live animals, wheat
Primary Export partners: Iraq (30.22% of total exports), Lebanon (12.21%), Germany (8.89%), Egypt (6.8%), Saudi Arabia (5.04%) and Italy (4.55%)

Total value of imports: $13.57 billion (2010 estimate)
Primary import items: machinery and transport equipment, electric power machinery, food and livestock, metal and metal products, chemicals and chemical products, plastics, yarn, paper
Primary import partners: Saudi Arabia (10.1% of total imports), China (9.95%), Turkey (6.97%), Egypt (6.44%), UAE (4.97%), Italy (4.93%), Russia (4.92%), Germany (4.38%) and Lebanon (4.12%)

 

Iraq - Syria Trade Relations and the Oil P

Iraq is Syria's primary trading partner, accounting for around 30% of exports.

Syria and Iraq have been discussing the reopening of Kirkuk-Banias pipeline that was built in 1952 but damaged in the 2003 US-led invasion of Iraq. Banias is an oil-exporting port, so re-opening this pipeline would have positive trade and current account value for both partners.

China and Syria Trade Relations

Syria has always been a fan of China’s economic policy. Over years China has aimed at increasing its exports to the Middle East and Syria presents a good growth opportunity.

Haier is a major manufacturer of white goods and it has become the first Chinese business establishment to establish a solid presence in the Syrian market, but with China becoming one of the fastest growing import partners for Syria, they are unlikely to be the last.

Indian Exports of Wheat to Syria

The Government of India has given traders in India permission to export its additional wheat to a select list of countries, with Syria being one of those.

Potential of Syria export sector

Right now Syria export sector is at footstep of success. It has all potential to be a major name in world export scenario because of its relative proximity to Europe that has biggest consumer markets of world.

US Sanctions on Exports to Syria

US President Barack Obama renewed sanctions on Syria as a sponsor of state terrorism. Successive US administrations believe that Syria has been backing Hezbollah, Hamas, insurgents in Iraq and other groups that it views as terrorists.

The US has therefore enlisted certain goods and services that cannot be exported to Syria. It also bars banks and other organisations from establishing financial relations.

Syrian Cumin Exports

Syria is one of the world's leading producers of the spice cumin, most of which is exported internationally.