The Syrian economy has been devastated by conflict to an extent that defies comprehensive numerical analysis. Nevertheless, any meaningful assessment of the Syrian crisis requires an understanding of the economic context. This study finds that, after four years of conflict, Syria’s economic output – as measured by gross domestic product (GDP) at constant prices – has more than halved in real terms. This comes in a context in which the country’s population has shrunk from 21 million to approximately 17.5 million as a result of outward migration (mainly refugee flows) and more than a quarter of a million deaths. More than one-third of the remaining population is internally displaced.
