| People | 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 55% of GDP, 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. |
GDP (purchasing power parity):
|
$3.449 billion (2007 est.) |
GDP (official exchange rate):
|
$2.234 billion (2007 est.) |
GDP - real growth rate:
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5.1% (2007 est.) |
GDP - per capita (PPP):
|
$7,800 (2007 est.) |
GDP - composition by sector:
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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:
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lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
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9.5% (2005 est.) |
Labor force:
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156,700 (2004) |
Labor force participation rate:
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32.92 % of population |
Labor force - by occupation:
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agriculture: 8%
industry: 14%
services: 78% (2004) |
Unemployment rate:
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9.5% (2004) |
Budget:
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revenues: $392.6 million
expenditures: $425.9 million (2004) |
Budget revenues per capita:
|
825 USD per capita |
Public debt:
|
void |
Industries:
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bauxite and gold mining, alumina production; oil, lumbering, food processing, fishing |
Industrial production growth rate:
|
6.5% (1994 est.) |
Electricity - production:
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1.53 billion kWh (2005) |
Electricity - production per capita:
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3,215 kWh per capita |
Electricity - consumption:
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1.423 billion kWh (2005) |
Electricity - consumption - per capita:
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2,990 kWh per capita |
Electricity - exports:
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0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
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9,461 bbl/day (2005 est.) |
Oil - production per capita:
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19,877 bbl/day per capita |
Oil - consumption:
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12,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
9.20 bbl/year per capita |
Oil - exports:
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3,151 bbl/day (2004) |
Oil - imports:
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6,032 bbl/day (2004) |
Oil - proved reserves:
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111 million bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
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0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
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paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; shrimp; forest products |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
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$1.391 billion f.o.b. (2006 est.) |
Exports per capita:
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2,923 USD per capita |
Exports - commodities:
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alumina, gold, crude oil, lumber, shrimp and fish, rice, bananas |
Exports - partners:
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Norway 23%, Canada 15.5%, US 12.6%, Belgium 10.1%, France 8.5%, UAE 6.9%, Iceland 4.2% (2006) |
Imports:
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$1.297 billion f.o.b. (2006 est.) |
Imports per capita:
|
2,725 USD per capita |
Imports - commodities:
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capital equipment, petroleum, foodstuffs, cotton, consumer goods |
Imports - partners:
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US 29.4%, Netherlands 18.9%, Trinidad and Tobago 14.9%, Japan 5.1%, China 4.9% (2006) |
Reserves of foreign exchange and gold:
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$263.3 million (2006) |
Reserves of foreign exchange and gold - per capita:
|
554 USD per capita |
Debt - external:
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$504.3 million (2005 est.) |
Debt - external - per capita:
|
1,060 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
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void |
Economic aid - recipient:
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$43.97 million (2005) |
Economic aid - recipient per capita:
|
93 USD per capita |
Currency (code):
|
Surinam dollar (SRD) |
Exchange rates:
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Surinamese dollars per US dollar - 2.745 (2007), 2.745 (2006), 2.7317 (2005), 2.7336 (2004), 2.6013 (2003)
note: in January 2004, the government replaced the guilder with the Surinamese dollar, tied to a US dollar-dominated currency basket |
Fiscal year:
|
calendar year |
|
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