Suriname Economy - 2024

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.)

Unemployment rate

10.06% (2021 est.)
9.78% (2020 est.)
8.04% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 30.5% (2021 est.)

male: 22.1%

female: 46.1%

Population below poverty line

70% (2002 est.)

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Remittances

4.95% of GDP (2021 est.)
4.26% of GDP (2020 est.)
2.39% of GDP (2019 est.)

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 -

Exchange rates:
18.239 (2021 est.)
9.31 (2020 est.)
7.458 (2019 est.)
7.463 (2018 est.)
7.488 (2017 est.)