National debt of Syria in relation to gross domestic product (GDP) 2010

This statistic shows the national debt of Syria from 2000 to 2009, with projections up until 2010, in relation to the gross domestic product (GDP). The figures refer to the whole country and include the debts of the state, the communities, the municipalities and the social insurances. In 2010, the estimated national debt of Syria amounted to approximately 30.02 percent of the GDP.

The financial situation of Syria

In the years leading up to the civil war in Syria, the level of debt in Syria in relation to GDP had decreased dramatically from 152 percent in 2000 to around 30 percent in 2010. During that same period, GDP growth was high, except for one downward spike in 2003, exports increased and the ratio of government expenditure to GDP was on the decline. But despite gains, the trade balance and the budget balance were still in the red. Syria also reported a fluctuating inflation rate, but in 2008, it reached 15 percent. The ratio of government expenditure also began to rise again between 2008 and 2010.

Tensions are also thought to have been caused by agricultural displacement, both economic and geographic: In 2001, almost 30 percent of the Syrian population worked in the agricultural sector, and by 2011, their share had been reduced to around 14 percent. The agricultural share in GDP also dropped during this period. This was likely caused by one of the worst droughts Syria had ever experienced, causing people to immigrate to the cities to find work, but during a time when unemployment was relatively high. Obviously, decreasing debt was overshadowed by other more important cultural, political and economic factors which led to the civil war.

Syria: National debt from 2000 to 2010 in relation to gross domestic product

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Source

Release date

October 2019

Region

Syria

Survey time period

2000 to 2009

Supplementary notes

Due to the high level of uncertainty in current global economic conditions, the IMF does not offer projections for this economic indicator at this time. Data will be updated as soon as they are available.

* Estimate.

Figures have been rounded.

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Statistics on "Syria"

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