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Syria FOREIGN TRADE
Since the early 1950s, the value of imports has been close to
double the value of exports. The two exhibited similar growth
patterns, both growing slowly until the 1970s. Between 1951 and
1970, imports increased an average of 6.2 percent and exports 5.6
percent a year, and the trade balance slowly worsened. In the
1970s, the value of imports and exports increased much more
rapidly. For example, the average rate of growth of imports
increased 28 percent a year and exports increased 23 percent a
year. In the 1980s, the trade imbalance widened further. Syria
instituted austerity budgets to reduce imports drastically and to
conserve foreign exchange. As a result, by the mid-1980s the
trade deficit had declined from LS11.6 billion in 1981 to LS10.3
billion in 1983 and LS8.9 billion in 1984, still large but
offering the hope of continued future reductions.
Data as of April 1987
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