Page last updated on February 5, 2013
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. Economic growth, which reached about 7% in 2008, owing to sizeable foreign investment in mining and oil, slowed to 2.2% in 2009 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 about 4% per year in 2010-12, but the government's budget remained strained. Inflation rose from 1.3% in 2009 to 17.7% in 2011. In January 2011, the government devalued the currency by 20% and raised taxes to reduce the budget deficit. As a result of these measures, inflation receded to 6% in 2012. 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):
$6.685 billion (2012 est.)
country comparison to the world: 161
$6.429 billion (2011 est.)
$6.173 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$5.094 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
4% (2012 est.)
country comparison to the world: 83
4.2% (2011 est.)
4.1% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$12,300 (2012 est.)
country comparison to the world: 101
$11,900 (2011 est.)
$11,600 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 10.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
36.6%
services:
52.9% (2012 est.)
Labor force:
165,600 (2007)
country comparison to the world: 176
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
14%
services:
78% (2004)
Unemployment rate:
9% (2008)
country comparison to the world: 105
12.1% (2006)
[see also:
Unemployment rate country ranks ]
Population below poverty line:
70% (2002 est.)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
Budget:
revenues: $826.6 million
[see also: Budget revenues country ranks ]
expenditures:
$939.7 million (2010 est.)
Taxes and other revenues:
16.2% of GDP (2010 est.)
country comparison to the world: 182
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-2.2% of GDP (2010 est.)
country comparison to the world: 77
[see also: Budget surplus (+) or deficit (-) country ranks ]
Inflation rate (consumer prices):
6% (2012 est.)
country comparison to the world: 158
17.7% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Commercial bank prime lending rate:
12% (31 December 2012 est.)
country comparison to the world: 70
11.75% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$1.132 billion (31 December 2012 est.)
country comparison to the world: 146
$1.075 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$2.3 billion (31 December 2012 est.)
country comparison to the world: 148
$2.033 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$1.286 billion (31 December 2012 est.)
country comparison to the world: 150
$1.029 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]
Agriculture - products:
rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; shrimp; forest products
Industries:
bauxite and gold mining, alumina production; oil, lumbering, food processing, fishing
Industrial production growth rate:
6.5% (1994 est.)
country comparison to the world: 50
[see also: Industrial production growth rate country ranks ]
Current account balance:
$577.2 million (2012 est.)
country comparison to the world: 44
$251.1 million (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$2.927 billion (2012 est.)
country comparison to the world: 130
$2.467 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
alumina, gold, crude oil, lumber, shrimp and fish, rice, bananas
Exports - partners:
US 23.9%, Canada 19.5%, Belgium 17.2%, UAE 8.9%, Norway 6.2%, Guyana 4.8%, France 4.1% (2011)
Imports:
$1.838 billion (2012 est.)
country comparison to the world: 165
$1.679 billion (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
capital equipment, petroleum, foodstuffs, cotton, consumer goods
Imports - partners:
US 26.1%, Netherlands 15.6%, UAE 8.6%, China 8.2%, Antigua and Barbuda 7.4%, Netherlands Antilles 5.5%, Brazil 4.4%, Japan 4.1% (2011)
Reserves of foreign exchange and gold:
$1.048 billion (31 December 2011 est.)
country comparison to the world: 134
$726.8 million (2010 est.)
[see also:
Reserves of foreign exchange and gold country ranks ]
Debt - external:
$504.3 million (2005 est.)
country comparison to the world: 169
[see also: Debt - external country ranks ]
Exchange rates:
Surinamese dollars (SRD) per US dollar -
3.5 (2012 est.)
3.2683 (2011 est.)
2.7454 (2010 est.)
2.745 (2009)
2.745 (2008)
Fiscal year:
calendar year
NOTE: The information regarding Suriname on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Suriname Economy 2013 information contained here. All suggestions for corrections of any errors about Suriname Economy 2013 should be addressed to the CIA.
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