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South America > Suriname > Economy

SURINAMESE ECONOMY STATS:   Top Stats   All Stats  
View this page with:    Just Stats   Sources   Definitions   Both  
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 Time series [63rd of 181]
Debt > External $504,300,000.00 Time series [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 Time series [132nd of 189]
Exports to US $30,700,000.00 [116th of 224]
GDP $1,597,385,000.00 Time series [139th of 203]
GDP (purchasing power parity) $3,846,000,000.00 Time series [158th of 187]
GDP > Real growth rate 5.1% Time series [104th of 198]
GDP growth > annual % 5.13 annual % Time series [75th of 187]
GDP per capita, PPP > current international $ 7,721.69 PPP $ Time series [66th of 169]
Gross National Income $761,360,000.00 [141st of 172]
Human Development Index 0.755 [85th of 178]
Inflation rate (consumer prices) 6.4% Time series [72nd of 192]
Population below poverty line 70% Time series [3rd of 46]
Total reserves minus gold > current US$ 125,776,600 $ Time series [152nd of 178]
Tourist arrivals 61,000 [129th of 152]

... View all Economy stats

SOURCES: CIA World Factbook, 28 July 2005; calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; US Census Bureau; World Development Indicators database and CIA World Factbook; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; United Nations World Statistics Pocketbook and Statistical Yearbook

ALTERNATIVE NAMES: Suriname, Republic of Suriname, Republiek Suriname, surinam

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