Suriname Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

upper middle-income South American economy; new floating currency regime; key aluminum goods, gold, and hydrocarbon exporter; new IMF plan for economic recovery and fiscal sustainability; controversial hardwood industry

Real GDP (purchasing power parity)

$9.052 billion (2021 est.)

$9.306 billion (2020 est.)

$11.075 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

-2.73% (2021 est.)

-15.98% (2020 est.)

1.17% (2019 est.)

Real GDP per capita

$14,800 (2021 est.)

$15,300 (2020 est.)

$18,400 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$3.419 billion (2017 est.)

Inflation rate (consumer prices)

59.11% (2021 est.)

34.89% (2020 est.)

22% (2017 est.)

Credit ratings

Fitch rating: C (2020)

Moody's rating: Caa3 (2020)

Standard & Poors rating: SD (2020)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 11.6% (2017 est.)

industry: 31.1% (2017 est.)

services: 57.4% (2017 est.)

GDP - composition, by end use

household consumption: 27.6% (2017 est.)

government consumption: 11.7% (2017 est.)

investment in fixed capital: 52.5% (2017 est.)

investment in inventories: 26.5% (2017 est.)

exports of goods and services: 68.9% (2017 est.)

imports of goods and services: -60.6% (2017 est.)

Agricultural products

rice, sugar cane, bananas, oranges, vegetables, plantains, coconuts, poultry, cassava, eggs

Industries

gold mining, oil, lumber, food processing, fishing

Industrial production growth rate

-10.92% (2021 est.)

Labor force

244,200 (2021 est.)

Labor force - by occupation

agriculture: 11.2%

industry: 19.5%

services: 69.3% (2010)

Unemployment rate

10.06% (2021 est.)

9.78% (2020 est.)

8.04% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 30.5%

male: 22.1%

female: 46.1% (2021 est.)

Population below poverty line

70% (2002 est.)

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $863 million (2019 est.)

expenditures: $1.648 billion (2019 est.)

Budget surplus (+) or deficit (-)

-7.8% (of GDP) (2017 est.)

Public debt

69.3% of GDP (2017 est.)

75.8% of GDP (2016 est.)

Taxes and other revenues

16.4% (of GDP) (2017 est.)

Fiscal year

calendar year

Current account balance

$176.13 million (2021 est.)

$259.846 million (2020 est.)

-$448.255 million (2019 est.)

Exports

$2.299 billion (2021 est.) note: data are in current year dollars

$2.446 billion (2020 est.) note: data are in current year dollars

$2.287 billion (2019 est.)

Exports - partners

Switzerland 51%, United Arab Emirates 22%, Belgium 6%, Trinidad and Tobago 2%, Guyana 2% (2021)

Exports - commodities

gold, lumber, refined petroleum, excavation machinery, rice (2021)

Imports

$1.876 billion (2021 est.) note: data are in current year dollars

$1.845 billion (2020 est.) note: data are in current year dollars

$2.413 billion (2019 est.)

Imports - partners

United States 19%, China 16%, Netherlands 15%, Trinidad and Tobago 8%, Japan 3% (2021)

Imports - commodities

refined petroleum, excavation machinery, delivery trucks, cars, cigarettes (2021)

Reserves of foreign exchange and gold

$992.257 million (31 December 2021 est.)

$584.929 million (31 December 2020 est.)

$647.935 million (31 December 2019 est.)

Debt - external

$1.7 billion (31 December 2017 est.)

$1.436 billion (31 December 2016 est.)

Exchange rates

Surinamese dollars (SRD) per US dollar -

18.239 (2021 est.)

9.31 (2020 est.)

7.458 (2019 est.)

7.463 (2018 est.)

7.488 (2017 est.)

NOTE: The information regarding Suriname on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Suriname 2023 information contained here. All suggestions for corrections of any errors about Suriname 2023 should be addressed to the CIA or the source cited on each page.