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. The Dutch Government has restarted the aid flow, which will allow Suriname to access international development financing.

GDP purchasing power parity - $1.5 billion (2000 est.)

GDP - real growth rate -5.5% (2000 est.)

GDP - per capita purchasing power parity - $3,500 (2000 est.)

GDP - composition by sector
agriculture: 13%
industry: 22%
services: 65% (1998 est.)

Population below poverty line NA%

Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices) 59% (2000)

Labor force 100,000

Labor force - by occupation agriculture NA%, industry NA%, services NA%

Unemployment rate 20% (1997)

Budget
revenues: $393 million
expenditures: $403 million, including capital expenditures of $34 million (1997 est.)

Industries bauxite and gold mining, alumina production, oil, lumbering, food processing, fishing

Industrial production growth rate 6.5% (1994 est.)

Electricity - production 1.407 billion kWh (2000)

Electricity - production by source
fossil fuel: 35.82%
hydro: 64.18%
other: 0% (2000)
nuclear: 0%

Electricity - consumption 1.309 billion kWh (2000)

Electricity - exports 0 kWh (2000)

Electricity - imports 0 kWh (2000)

Agriculture - products paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; forest products; shrimp

Exports $399 million (f.o.b., 2000)

Exports - commodities alumina, crude oil, lumber, shrimp and fish, rice, bananas

Exports - partners US 23%, Norway 19%, Netherlands 11%, France, Japan, UK (1999)

Imports $525 million (f.o.b., 1999)

Imports - commodities capital equipment, petroleum, foodstuffs, cotton, consumer goods

Imports - partners US 35%, Netherlands 15%, Trinidad and Tobago 12%, Japan, UK, Brazil (1999)

Debt - external $512 million (2000 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 - 2,178.50 (2001), 2,178.50 (2000), 987.50 (1999), 401.00 (1998), 401.00 (1997); note - yearend rates
note: beginning in July 1994, the central bank midpoint exchange rate was unified and became market determined; 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

NOTE: The information regarding Suriname on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Suriname Economy 2002 information contained here. All suggestions for corrections of any errors about Suriname Economy 2002 should be addressed to the CIA.