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Overview

Syria’s economy enters a new phase in a changing landscape
OBG
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Syria is entering a new phase after more than 14 years of conflict and the end of Bashar Al Assad’s rule in December 2024. The political transition that followed has created the prospect of rebuilding government institutions, restoring economic links with international markets, and addressing the extensive physical and human damage caused by the war. The scale of the task is considerable, however.…

Overview

Syria’s economic recovery lays the groundwork for improvement
OBG
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Syria entered 2026 in a markedly improved economic position from the final years of conflict, with the post-transition period opening space for sanctions relief, renewed donor and investor engagement, financial reintegration and the gradual restoration of public services. However, the recovery remains at an early and uneven stage. Economic conditions showed tentative signs of stabilisation in 2025…

Overview

Syria’s banking sector rebuilds confidence and credibility
OBG
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Syria’s banking sector entered 2026 with a clearer legal path to global reintegration and recovery, although liquidity, capital quality and depositor confidence have yet to return to levels needed to support the sector’s overall growth. After more than a decade of conflict, the easing of US and EU restrictions reopened scope for financial relationships, while the resumption of SWIFT connectivity…

Overview

How regulatory reforms are boosting Syria’s capital markets
OBG
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Syria’s capital markets are showing signs of momentum as the country works to rebuild its economy and re-engage with regional and global investors. Trading value on the Damascus Securities Exchange (DSE) surged to over SP1trn ($70m) in 2024, while market capitalisation rose from around SP3trn ($845m) in 2021 to SP25trn ($2bn) by the end of 2025 — growth that, even after accounting for currency…

Overview

Syria’s insurance health schemes drive segment expansion
OBG
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Syria’s insurance sector is entering a new chapter as the country looks to rebuild and reconnect with international markets after years of conflict and isolation. While the industry remains modest in scale, gross written premium (GWP) nearly doubled in nominal terms in 2024, signalling renewed activity in a market that private insurers have helped diversify since liberalisation began in 2005. With…

Overview

Syria’s energy and utilities revived by foreign investment
OBG
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Syria is gradually rebuilding its energy sector as the country seeks to position its oil and gas industry as a vital engine for post-war reconstruction and economic recovery after the nearly 14 years of civil war. The lifting of sanctions, the recovery of oil fields, a new consolidated energy ministry and the re-established Syrian Petroleum Company (SPC) will allow Syria to embark on restructuring…

Overview

New opportunities arise for transport renewal and reform
OBG
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Syria’s transport network is entering a period of reconstruction in which restoring connectivity is as important as expanding capacity. Roads, railways, ports, airports and border facilities underpin domestic commerce while linking production centres to neighbouring markets and Mediterranean trade routes. With large parts of the infrastructure base in disrepair or inoperative, current priorities…

Overview

Syria expands infrastructure investment in construction
OBG
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Syria’s construction sector is entering a period of recovery following years of conflict and extensive damage to the built environment. The World Bank estimates reconstruction costs at $216bn, underscoring the scale of demand for housing, infrastructure and other assets. The reconstruction effort is expected to create opportunities for investment and employment while supporting wider economic activity…

Overview

Syria sees renewed investment driving real estate recovery
OBG
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Demand in Syria’s real estate sector is demonstrating early signs of recovery, supported by returning households, diaspora capital, business reopening and renewed investor interest. The sector is emerging from years of displacement, physical destruction and limited formal financing, leaving substantial pent-up demand alongside constraints on affordability, ownership documentation and access to suitable…

Overview

Syria’s industry strengthened by broader economic recovery
OBG
plus

Syria entered the post-December 2024 transition with a broad but severely diminished manufacturing base, surviving industrial clusters and substantial idle or under-utilised capacity. The UN Development Programme estimates that private manufacturing output fell from SP428.4bn ($8.6bn) in 2010 to SP261bn ($20.9m) in 2024, underscoring the scale of reactivation required to restore the sector to pre-conflict…