Overview

Suriname's small economy (GDP of 5 billion USD and 534,000 inhabitants in 2014) depends heavily on the revenues from extractive industries making it vulnerable to commodity price fluctuations. Primary exports include gold, oil, and alumina, while rice, bananas and fish play a secondary role. The government expects further growth in gold and oil, but recognizes the need for economic diversification and has identified tourism, agriculture, and fresh water as candidate sectors. Suriname relies heavily on imports for consumer items. For the first half 2013, imports totaled USD 1.184 billion. Major imports from the United States included chemicals, poultry, mining equipment, and consumer products. Suriname's main import trading partners are the United States, Trinidad and Tobago, The Netherlands, and China. The United Arab Emirates is Suriname's biggest export partner due to the export of gold. Other main export partners include Switzerland, the United States, Canada, Belgium, and Guyana. The IMF predicts a growth rate of approximately 4 percent in 2014. The current exchange rate is SRD 3.35 to 1.00 USD and has remained stable following the Government of Suriname's devaluation of its currency in early 2011. Suriname is a member of the CARICOM, MERCOSUR, UNASUR, and the WTO. Suriname also participates in the European Partnership Agreement with the CARIFORUM countries.

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9781502346513

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