| Economy | Suriname |
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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. 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. Economic growth reached about 7% in 2008, owing to sizeable foreign investment in mining and oil. Suriname has received aid for projects in the bauxite and gold mining sectors from Netherlands, Belgium, and the European Development Fund. The economy slowed in 2009, however, as investment waned and the country earned less from its commodity exports when global prices for most commodities fell. Trade picked up, boosting Suriname's economic growth in 2010, but the government's budget remained strained, with increased social spending during the election. In January 2011, the government devalued the currency by 20% and raised taxes to reduce the budget deficit. 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. |
GDP (purchasing power parity):
|
$5.1 billion (2011 est.)
$4.794 billion (2010 est.)
$4.59 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$9,500 (2011 est.)
$9,100 (2010 est.)
$8,800 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$3.9 billion (2011 est.) |
GDP - real growth rate:
|
5% (2011 est.)
4.4% (2010 est.)
3.1% (2009 est.) |
GDP - composition by sector:
|
agriculture: 10.8%
industry: 24.4%
services: 64.8% (2005 est.) |
Investment (gross fixed):
|
void |
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:
|
void |
Inflation rate (consumer prices):
|
19.5% (2011 est.)
6.9% (2010 est.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
14.5% (31 December 2011 est.)
11.55% (31 December 2010 est.) |
Stock of money:
|
$484.7 million (31 December 2008)
$416.6 million (31 December 2007) |
Stock of money - per capita:
|
986 USD per capita |
Stock of quasi money:
|
$1.018 billion (31 December 2008)
$824.4 million (31 December 2007) |
Stock of quasi money - per capita:
|
2,070 USD per capita |
Stock of domestic credit:
|
$1.121 billion (31 December 2011 est.)
$983.6 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
2,279 USD per capita |
Stock of narrow money:
|
$727.6 million (31 December 2011 est.)
$716.2 million (31 December 2010 est.) |
Stock of broad money:
|
$2.002 billion (31 December 2010 est.)
$1.808 billion (31 December 2009 est.) |
Labor force:
|
165,600 (2007) |
Labor force participation rate:
|
33.66 % of population |
Labor force - by occupation:
|
agriculture: 8%
industry: 14%
services: 78% (2004) |
Unemployment rate:
|
9.5% (2004) |
Unemployment, youth ages 15-24:
|
total: 21.5% (2004) |
Budget:
|
revenues: $392.6 million
expenditures: $425.9 million (2004) |
Budget revenues per capita:
|
798 USD per capita |
Taxes and other revenues:
|
10.1% of GDP (2004) |
Budget surplus (+) or deficit (-):
|
-0.9% of GDP (2004) |
Public debt:
|
void |
Industries:
|
bauxite and gold mining, alumina production; oil, lumbering, food processing, fishing |
Industrial production growth rate:
|
6.5% (1994 est.) |
Electricity - production:
|
1.58 billion kWh (2008 est.) |
Electricity - production per capita:
|
3,212 kWh per capita |
Electricity - consumption:
|
1.44 billion kWh (2008 est.) |
Electricity - consumption - per capita:
|
2,927 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
14,460 bbl/day (2010 est.) |
Oil - production per capita:
|
29,391 bbl/day per capita |
Oil - consumption:
|
15,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
11.13 bbl/year per capita |
Oil - exports:
|
3,058 bbl/day (2009 est.) |
Oil - imports:
|
5,668 bbl/day (2009 est.) |
Oil - proved reserves:
|
78.9 million bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; shrimp; forest products |
Current account balance:
|
$389.5 million (2011 est.)
$304.4 million (2010 est.) |
Current account balance - per capita:
|
792 USD per capita |
Exports:
|
$1.583 billion (2011 est.)
$1.477 billion (2010 est.) |
Exports per capita:
|
3,218 USD per capita |
Exports - commodities:
|
alumina, gold, crude oil, lumber, shrimp and fish, rice, bananas |
Exports - partners:
|
Canada 36.8%, US 12%, Belgium 11.6%, UAE 9.5%, Netherlands 6.1%, Norway 5.5% (2010) |
Imports:
|
$1.434 billion (2011 est.)
$1.334 billion (2010 est.) |
Imports per capita:
|
2,915 USD per capita |
Imports - commodities:
|
capital equipment, petroleum, foodstuffs, cotton, consumer goods |
Imports - partners:
|
US 26.6%, Netherlands 16%, Trinidad and Tobago 15.1%, China 8.4%, Japan 5.5%, Brazil 4.7% (2010) |
Reserves of foreign exchange and gold:
|
$263.3 million (2006) |
Reserves of foreign exchange and gold - per capita:
|
536 USD per capita |
Debt - external:
|
$504.3 million (2005 est.) |
Debt - external - per capita:
|
1,026 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Surinam dollar (SRD) |
Exchange rates:
|
Surinamese dollars (SRD) per US dollar -
3.25 (2011 est.)
2.75 (2010 est.)
2.745 (2009)
2.745 (2008)
2.745 (2007) |
Fiscal year:
|
calendar year |
|
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