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    Suriname Economy - 1990

      Overview: The economy is dominated by the bauxite industry, which accounts for about 80% of export earnings and 40% of tax revenues. The economy has been in trouble since the Dutch ended development aid in 1982. A drop in world bauxite prices that started in the late 1970s and continued until late 1986, was followed by the outbreak of a guerrilla insurgency in the interior. The guerrillas targeted the economic infrastructure, crippling the important bauxite sector and shutting down other export industries. These problems have created both high inflation and high unemployment. A small gain in economic growth of 3.6% was registered in 1988 due to reduced guerrilla activity and improved international markets for bauxite.

      GDP: $1.27 billion, per capita $3,215; real growth rate 3.6% (1988 est.)

      Inflation rate (consumer prices): 50% (1988 est.)

      Unemployment rate: 27% (1988)

      Budget: revenues $466 million; expenditures $716 million, including capital expenditures of $123 million (1989 est.)

      Exports: $425 million (f.o.b., 1988 est.); commodities--alumina, bauxite, aluminum, rice, wood and wood products, shrimp and fish, bananas; partners--Netherlands 28%, US 22%, Norway 18%, Japan 11%, Brazil 10%, UK 4%

      Imports: $365 million (f.o.b., 1988 est.); commodities--capital equipment, petroleum, foodstuffs, cotton, consumer goods; partners--US 34%, Netherlands 20%, Trinidad and Tobago 8%, Brazil 5%, UK 3%

      External debt: $65 million (1989 est.)

      Industrial production: growth rate - 3.1% (1986)

      Electricity: 458,000 kW capacity; 2,018 million kWh produced, 5,030 kWh per capita (1989)

      Industries: bauxite mining, alumina and aluminum production, lumbering, food processing, fishing

      Agriculture: accounts for 11% of both GDP and labor force; paddy rice planted on 85% of arable land and represents 60% of total farm output; other products--bananas, palm kernels, coconuts, plantains, peanuts, beef, chicken; shrimp and forestry products of increasing importance; self-sufficient in most foods

      Aid: US commitments, including Ex-Im (FY70-83), $2.5 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $1.4 billion

      Currency: Surinamese guilder, gulden, or florin (plural--guilders, gulden, or florins); 1 Surinamese guilder, gulden, or florin (Sf.) = 100 cents

      Exchange rates: Surinamese guilders, gulden, or florins (Sf.) per US$1--1.7850 (fixed rate)

      Fiscal year: calendar year

      NOTE: The information regarding Suriname on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Suriname Economy 1990 information contained here. All suggestions for corrections of any errors about Suriname Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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