Suriname


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 has remained at about 4-5% per year in 2010-13, but the government's budget was strained by high inflation in 2010. 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 has receded to about 4% in 2013. 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. The government's reliance on revenue from extractive industries will temper Suriname's economic outlook, especially if gold prices continue their downward trend.

GDP

$7.12 billion (2013 est.)
country comparison to the world: 161
$6.801 billion (2012 est.)
$6.492 billion (2011 est.)

GDP- Real Growth Rate

4.7% (2013 est.)
country comparison to the world: 62
4.8% (2012 est.)
4.7% (2011 est.)

GDP - Per Capita

$12,900 (2013 est.)
country comparison to the world: 101
$12,500 (2012 est.)
$12,100 (2011 est.)

GDP - Composition By Sector

agriculture: 8.9%
industry: 36.6%
services: 54.5% (2013 est.)

Population Below Poverty Line

70% (2002 est.)

Inflation Rate (Consumer Prices)

4.2% (2013 est.)
country comparison to the world: 141
5% (2012 est.)

Labor Force

165,600 (2007)
country comparison to the world: 176

Labor Force - By Occupation

agriculture: 8%
industry: 14%
services: 78% (2004)

Unemployment Rate

9% (2008)
country comparison to the world: 100 12.1% (2006)

Industries

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

Industrial Production Growth

4% (2013 est.)
country comparison to the world: 74