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    Suriname Economy - 1989

      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 decline since the Dutch ended development aid in 1982. Adding to economic problems has been a drop in world bauxite prices that started in the late 1970s and continued until late 1986. In mid-1986 the economy suffered as a result of an outbreak of guerrilla insurgency in the interior. The guerrillas targeted the economic infrastructure, crippling the critical bauxite sector and shutting down important export industries. These problems have created both high inflation and high unemployment.

      GDP: $1.19 billion, per capita $2800; real growth rate - 8.4% (1987)

      Inflation rate (consumer prices): 53.4% (1987)

      Unemployment rate: 32% (1987 est.)

      Budget: revenues $346 million; expenditures $650 million, including capital expenditures of $25 million (1988 est.)

      Exports: $338.8 million (f.o.b., 1987); @m5commodities--alumina, bauxite, aluminum, rice, wood and wood products, shrimp and fish, bananas; @m5partners--Netherlands 25%, Norway 22%, US 20%, Japan 13%, Brazil 7%, UK 4%

      Imports: $274.3 million (f.o.b., 1987); @m5commodities--capital equipment, petroleum, foodstuffs, cotton, consumer goods; @m5partners--US 31%, Netherlands 20%, Trinidad and Tobago 10%, Brazil 9%, UK 2%

      External debt: $161 million (1987)

      Industrial production: growth rate - 3.1% (1986)

      Electricity: 439,000 kW capacity; 1,922 million kWh produced, 4,870 kWh per capita (1988)

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

      Agriculture: rice, bananas, palm oil, timber

      Aid: US commitments, including Ex-Im (FY70-83), $2.5 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-86), $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 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Suriname Economy 1989 information contained here. All suggestions for corrections of any errors about Suriname Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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