There is no doubt that the Syrian civil war has caused great damage to the country’s people and infrastructure. A new report released by the United Nations Economic and Social Commission for West Asia (UN-ESCWA) and the University of St. Andrews revealed that, by the end of the 8th year of the conflict, Syria has suffered economic losses estimated at more than $ 442 billion.
According to the report, nearly 12 million people have been in need of humanitarian aid and an entire generation of children have grown up not knowing peace. Nearly 3 million Syrian children stayed out of school in 2018.
In terms of infrastructure, 82% of the damage resulting from the conflict has occurred in seven sectors: housing, mining, security, transportation, manufacturing, power generation, and health. The war has caused nearly $118 billion in damages and $ 325 billion in lost GDP. Annual GDP is now 54% what it was in 2010, before the war.
Exports have plummeted over the past eight years from $8.7 billion to only $700 million.
The imbalance between imports and exports has widened the trade deficit and contributed to a sharp collapse of the Syrian Pound vs the U.S. Dollar.