South America > Suriname > Economy

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Agriculture > products paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; forest products; shrimp
Aid as % of GDP	4.1%		[54th of 129]
Current account balance	$24,000,000.00		[63rd of 181]
Debt > External	$504,300,000.00		[125th of 136]
Economic freedom	1.05		[144th of 156]
Economy > Overview The economy is dominated by the mining industry, with exports of alumina, gold, and oil accounting for about 85% of exports and 25% of government revenues, making the economy highly vulnerable to mineral price volatility. 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. Suriname has received aid for these projects from Netherlands, Belgium, and the European Development Fund. Suriname's economic prospects for the medium term will depend on continued commitment to responsible monetary and fiscal policies and to the introduction of structural reforms to liberalize markets and promote competition. In 2000, the government of Ronald VENETIAAN, returned to office and inherited an economy with inflation of over 100% and a growing fiscal deficit. He quickly implemented an austerity program, raised taxes, attempted to control spending, and tamed inflation. These economic policies are likely to remain in effect during VENETIAAN's third term. Prospects for local onshore oil production are good as a drilling program is underway. Offshore oil drilling was given a boost in 2004 when the State Oil Company (Staatsolie) signed exploration agreements with Repsol, Maersk, and Occidental. Bidding on these new offshore blocks was completed in July 2006.
Exchange rates Surinamese dollars per US dollar - 2.7336 (2004), Surinamese guilders per US dollar - 2.6013 (2003), 2.3468 (2002), 2.1785 (2001), 1.3225 (2000)
Exports	$1,391,000,000.00		[132nd of 189]
Exports to US	$30,700,000.00		[116th of 224]
GDP	$1,597,385,000.00		[139th of 203]
GDP (purchasing power parity)	$3,846,000,000.00		[158th of 187]
GDP > Real growth rate	5.1%		[104th of 198]
GDP growth > annual %	5.13 annual %		[75th of 187]
GDP per capita, PPP > current international $	7,721.69 PPP $		[66th of 169]
Gross National Income	$761,360,000.00		[141st of 172]
Human Development Index	0.755		[85th of 178]
Inflation rate (consumer prices)	6.4%		[72nd of 192]
Population below poverty line	70%		[3rd of 46]
Total reserves minus gold > current US$	125,776,600 $		[152nd of 178]
Tourist arrivals	61,000		[129th of 152]

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