The Syrian Civil War is the largest ongoing military conflict in the world, already claiming a total of at least 167,000 lives* since civil unrest first erupted in March 2011 on the heels of the Arab Spring. Human life is one measure of a wars devastation. Today, we examine the devastation of war from an economic perspective: international trade. The disruption in Syrian trade has already lowered its ranking globally from the 88th largest exporter in 2011 to the 141st in 2015.
Humanitarian aid has partially offset some of Syria’s loss in merchandise imports. Amounting to roughly $4.5 billion in 2015, aid was almost equal to Syria's total merchandise imports that same year. These numbers should be used and considered with due caution given reporting lapses and losses that go hand-in-hand with a country in civil war.
Learn more about Syria’s trade profile and arms and ammunition trade below in today’s Viz of the Day.
Concentration Index of Exports estimates to what extent a country relies on a certain group of commodities. Countries, which are over depending on the export of the definite commodity group as a primary source of the foreign income, are vulnerable to changes in global demand because export earning depends on foreign currencies. According to Policy Research Working Paper, countries that are resource-rich are less diversified. These countries did not try to create a greater variety of exported product, and for now, they are dependent on a small number of resources they specified. Last year Iraq took first place in Export Concentration Index...