Economy of Syria

discovered near Deir ez-Zor in eastern Syria. Syria's rate of oil production has decreased dramatically from a peak close to 600,000 barrels per day (95,000 m/d) (bpd) in 1995 down to less than 140,000 bbl/d (22,000 m/d) in 2012. Syria exported roughly 200,000 bbl/d (32,000 m/d) in 2005, and oil still accounts for a majority of the country's export income. Syria also produces 22 million cubic meters of gas per day, with estimated reserves around 8.5 trillion cubic feet (240 km). While the government has begun to work with international energy companies in the hopes of eventually becoming a gas exporter, all gas currently produced is consumed domestically.

Some basic commodities, such as diesel, continue to be heavily subsidized, and social services are provided for nominal charges. The subsidies are becoming harder to sustain as the gap between consumption and production continues to increase. Syria has a population of approximately 22.2 million people, and Syrian Government figures place the population growth rate at 2.45%, with 75% of the population under the age of 35 and more than 40% under the age of 15.

Approximately 200,000 people enter the labor market every year. According to Syrian Government statistics. Government and public sector employees constitute over one quarter of the total labor force. Government officials acknowledge that the economy is not growing at a pace sufficient to create enough new jobs annually to match population growth. The UNDP announced in 2005 that 30% of the Syrian population lives in poverty and 11.4% live below the subsistence level