UN: $442 billion in economic losses during Syrian war
QAMISHLI, Syria (North Press) – A United Nations report issued on Wednesday stated that Syria has suffered $442 billion in economic losses during the nearly decade-long Syrian crisis.
The United Nations Economic and Social Commission for Western Asia (ESCWA) and the Center for Syrian Studies at the University of St. Andrews prepared a joint report entitled “Syria … After Eight Years of War”.
The report stated that the human development index in Syria decreased from 0.64 in 2010 to 0.549 in 2018, and its international standing has fallen from countries with medium human development to low.
The report revealed that 82% of the damage caused by the conflict had accumulated in seven of the most capital intensive sectors; housing, mining, transportation, security, manufacturing, electricity, and health.
The cost of the physical destruction of capital is estimated at $117.7 billion, and the loss in gross domestic product (GDP) is $324.5 billion, bringing the total economic cost of the conflict to about $442 billion, according to the report.
According to the ESCWA committee, the cost of economic losses covered by the report for the period between 2011 and 2019 does not summarize the extent of the suffering of the population.
It indicated that there are 5.6 million refugees, 6.4 million internally displaced persons, 6.5 million suffering from food insecurity, and 11.7 million in need of humanitarian assistance.
The report revealed that the losses of human development in the fields of education and health are catastrophic, as about three million children inside the country dropped out of school during the 2017-2018 academic year.
Extensive research was published on Wednesday, conducted by experts and academics within the National Agenda for the Future of Syria Programme, presenting the implications of the conflict on social and economic life in Syria.
With regard to trade exchange, the report indicates that Syrian exports witnessed a collapse, from 8.7 billion dollars in 2010 to 0.7 billion dollars in 2018.
Damage to infrastructure and restrictive unilateral economic sanctions imposed by the United States and the European Union, as well as the flight of physical and human capital, contributed to this collapse.
The report noted that imports did not witness a similar collapse, which led to a widening trade deficit and created increasing pressure on the value of the Syrian pound.
ESCWA institutions and the University of St Andrews issued their first report on Syria in 2016, titled “Syria… After Five Years of War” and estimated the material losses at that time at about $359.6 billion.
In 2012, UN ESCWA developed the National Agenda for the Future of Syria (NAFS) program, which established a platform for technical dialogue for Syrian experts from different backgrounds to talk about reconciliation and peace building in post-conflict Syria.