Suriname:
Economy

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Economy - overview	Definition 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. 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)	Definition - World rank and map $4.073 billion (2007 est.)
GDP (official exchange rate)	Definition $2.404 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 5.5% (2007 est.)
GDP - per capita	Definition - World rank and map $7,800 (2007 est.)
GDP - composition by sector	Definition agriculture: 10.8% industry: 24.4% services: 64.8% (2005 est.)
Labor force	Definition 156,700 (2004)
Labor force - by occupation	Definition agriculture: 8% industry: 14% services: 78% (2004)
Unemployment rate	Definition - World rank and map 9.5% (2004)
Population below poverty line	Definition 70% (2002 est.)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 6.4% (2007 est.)
Budget	Definition revenues: $392.6 million expenditures: $425.9 million (2004)
Agriculture - products	Definition paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; shrimp; forest products
Industries	Definition bauxite and gold mining, alumina production; oil, lumbering, food processing, fishing
Industrial production growth rate	Definition - World rank and map 6.5% (1994 est.)
Electricity - production	Definition - World rank and map 1.53 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 1.423 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 2,989.6 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 9,461 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 12,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 25.2 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 3,151 bbl/day (2004)
Oil - imports	Definition - World rank and map 6,032 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 111 million bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map $24 million (2007 est.)
Exports	Definition - World rank and map $1.391 billion f.o.b. (2006 est.)
Exports - commodities	Definition alumina, gold, crude oil, lumber, shrimp and fish, rice, bananas
Exports - partners	Definition Canada 24.5%, Norway 19.5%, Belgium 8.9%, US 8.5%, UAE 7.6%, France 6.9%, Venezuela 4.2% (2006)
Imports	Definition - World rank and map $1.297 billion f.o.b. (2006 est.)
Imports - commodities	Definition capital equipment, petroleum, foodstuffs, cotton, consumer goods
Imports - partners	Definition US 27.3%, Netherlands 17.4%, Trinidad and Tobago 14.4%, China 5.9%, Japan 5.1% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $263.3 million (2006)
Debt - external	Definition - World rank and map $504.3 million (2005 est.)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $43.97 million (2005)
Currency (code)	Definition Surinam dollar (SRD)
Exchange rates	Definition 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	Definition calendar year

Suriname: Economy

Suriname:
Economy