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Since the establishment of the First Syrian Republic in 1946, the economy has undergone many structural and other changes. [16] Although the presence of the Allied forces during World War II stimulated commerce by providing markets for agriculture, textiles, and other locally manufactured goods, Syria lacked both the infrastructure and the resources to achieve economic prosperity. [16]
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021. [8] [1] [11]
Turkey is the largest economy in the Middle East followed by Saudi Arabia, Iran and the UAE. Turkey has the world's 12th largest GDP-PPP [75] and 17th largest Nominal GDP. [76] The country is a founding member of the OECD (1961) and the G-20 major economies (1999). Turkey has been part of the EU Customs Union since 31 December 1995.
The location of Syria An enlargeable map of the Syrian Arab Republic. The following outline is provided as an overview of and topical guide to Syria: . Syria – country in Western Asia, that borders Lebanon and the Mediterranean Sea to the west, Turkey to the north, Iraq to the east, Jordan to the south and Israel to the southwest.
Syria, [g] officially the Syrian Arab Republic, [h] [17] is a country in West Asia located in the Eastern Mediterranean and the Levant.It borders the Mediterranean Sea to the west, Turkey to the north, Iraq to the east and southeast, Jordan to the south, and Israel and Lebanon to the southwest.
It was the most significant economic sector when Syria gained independence in 1946, experiencing the fastest growth during the 1940s and early 1950s. Syria's notables made large investments in irrigation and land development. The rest fields of the economy were accelerated by the rapid growth of the cultivated land and increased productivity.
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.
Industry has been a vital part of the Economy of Syria for many years. Major industries include; petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing and car assembly. [1] Industry is the responsibility of the Ministry of Industry and has been heavily disrupted by the Syrian civil war.