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    Suriname Economy - 1991

      Overview: The economy is dominated by the bauxite industry, which accounts for about 70% 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 high inflation, high unemployment, widespread black market activity, and a bad climate for foreign investment. A small gain in economic growth of 2.0% was registered in 1989 due to reduced guerrilla activity and improved international markets for bauxite.

      GDP: $1.35 billion, per capita $3,400; real growth rate 2.0% (1989 est.)

      Inflation rate (consumer prices): 50% (1989 est.)

      Unemployment rate: 33% (1990)

      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--Norway 33%, Netherlands 20%, US 15%, FRG 9%, Brazil 5%, UK 5%, Japan 3%, other 10%

      Imports: $370 million (f.o.b., 1988 est.); commodities--capital equipment, petroleum, foodstuffs, cotton, consumer goods; partners--US 37%, Netherlands 15%, Netherlands Antilles 11%, Trinidad and Tobago 9%, Brazil 5%, UK 3%, other 20%

      External debt: $138 million (1990 est.)

      Industrial production: growth rate 16.4% (1988 est.); accounts for 22% of GDP

      Electricity: 458,000 kW capacity; 2,018 million kWh produced, 5,090 kWh per capita (1990)

      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

      Economic aid: US commitments, including Ex-Im (FY70-83), $2.5 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $1.45 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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Suriname Economy 1991 information contained here. All suggestions for corrections of any errors about Suriname Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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