Economy Of Suriname - Suriname Information

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Economy Of Suriname
Suriname Information - Country Guides

Economy overview	The economy is dominated by the bauxite industry, which accounts for more than 15% of GDP and 70% of export earnings. Suriname's economic prospects for the medium term will depend on renewed commitment to responsible monetary and fiscal policies and to the introduction of structural reforms to liberalize markets and promote competition. The government of Ronald VENETIAAN has begun an austerity program, raised taxes, and attempted to control spending. However, in 2002, President VENETIAAN agreed to a large pay raise for civil servants, which threatens his earlier gains in stabilizing the economy. The Dutch Government has agreed to restart the aid flow, which will allow Suriname to access international development financing. The short-term economic outlook depends on the government's ability to control inflation and on the development of projects in the bauxite and gold mining sectors.
GDP	purchasing power parity - $1.752 billion (2004 est.)
GDP - real growth rate	5% (2004 est.)
GDP - per capita	purchasing power parity - $4,000 (2004 est.)
GDP - composition by sector	agriculture: 13% industry: 22% services: 65% (2001 est.)
Investment gross fixed
Population below poverty line	70% (2002 est.)
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	17% (2002 est.)
Labor force	100,000
Labor force by occupation	agriculture NA, industry NA, services NA
Unemployment rate	17% (2000)
Budget	revenues: $393 million expenditures: $403 million, including capital expenditures of $34 million (1997 est.)
Public debt
Agriculture products	paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; forest products; shrimp
Industries	bauxite and gold mining, alumina production, oil, lumbering, food processing, fishing
Industrial production growth rate	6.5% (1994 est.)
Electricity production	1.959 billion kWh (2001)
Electricity production by source	fossil fuel: 25.2% hydro: 74.8% other: 0% (2001) nuclear: 0%
Electricity consumption	1.822 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	10,000 bbl/day (2001 est.)
Oil consumption	10,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	37 million bbl (1 January 2002)
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves	0 cu m (1 January 2002)
Current account balance
Exports	$495 million f.o.b. (2002)
Exports commodities	alumina, crude oil, lumber, shrimp and fish, rice, bananas
Exports partners	US 23.3%, Norway 18.4%, Belgium 12.5%, France 10.1%, Trinidad and Tobago 7.1%, Iceland 4.7%, Italy 4.3%, Netherlands 4.2% (2003)
Imports	$604 million f.o.b. (2002)
Imports commodities	capital equipment, petroleum, foodstuffs, cotton, consumer goods
Imports partners	US 31.5%, Netherlands 18.2%, Trinidad and Tobago 12.5%, China 6.8%, Japan 6.4% (2003)
Reserves of foreign exchange gold
Debt external	$321 million (2002 est.)
Economic aid recipient	Netherlands provided $37 million for project and program assistance, European Development Fund $4 million, Belgium $2 million (1998)
Currency	Surinamese guilder (SRG)
Currency code	SRG
Exchange rates	Surinamese guilders per US dollar - NA (2003), 2,346.75 (2002), 2,178.5 (2001), 1,322.47 (2000), 859.437 (1999) note: during 1998, the exchange rate splintered into four distinct rates; in january 1999 the government floated the guilder, but subsequently fixed it when the black-market rate plunged; the government currently allows trading within a band of srg 500 around the official rate
Fiscal year	calendar year

Surinamese Flag Map Of Suriname

Economy Of SurinameSuriname Information - Country Guides

Economy Of Suriname
Suriname Information - Country Guides