Current Account Balance: Syria

Analysis# Syria Current Account Balance Syria's current account balance stood at -2.8% of GDP in 2010, reflecting a modest deficit in its external trade position. This represents a significant deterioration from the all-time peak of 14.2% in 1990, when surpluses dominated Syria's external accounts. The 2010 figure remains well above the historical low of -7.7% recorded in 2003, positioning the country in moderate deficit territory relative to its three-decade range. The period from 2003 to 2010 captures Syria's recovery trajectory following a severe deficit crisis. After hitting bottom in 2003, the current account improved substantially through 2006, reaching a surplus of 1.4%. Subsequent years showed renewed deficits, though at manageable levels below 3% of GDP. The stability observed between 2009 and 2010 suggests Syria had achieved relative equilibrium in its external balance, though persistent deficits indicated continued reliance on external financing for economic activity.