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    Suriname Economy 1997

      Economy - overview The economy is dominated by the bauxite industry, which accounts forupwards of 15% of GDP and more than 65% of export earnings. Following a dismalyear in 1994 which saw the value of the Surinamese currency plummet by about80%, inflation rise to more than 600%, and national output fall for the fifthconsecutive year, nearly all economic indicators improved in 1995-96. Thegovernment unified the exchange rate and maintained a fairly tight monetarypolicy. Inflation apparently has been eliminated, and tax revenues have increasedsufficiently to erase the budget deficit. The release of substantial developmentaid from the Netherlands - which had been held up due to the government'sfailure to initiate economic reforms - also has helped buoy the economy. Suriname'seconomic prospects for the medium term will depend on continued implementationof economic restructuring. The new government elected in the fall of 1996has sent mixed signals about commitment to these reforms.

      GDP purchasing power parity - $1.4 billion (1996 est.)

      GDP - real growth rate 3% (1996 est.)

      GDP - per capita purchasing power parity - $3,150 (1996 est.)

      GDP - composition by sector
      agriculture: 14%
      industry : 33%
      services: 53% (1994)

      Inflation rate - consumer price index 0% (1996 est.)

      Labor force NA
      by occupation: agriculture, industry, services

      Unemployment rate NA%

      revenues: $205 million
      expenditures: $174 million, including capital expenditures of $12 million (1995 est.)

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

      Industrial production growth rate 6.5% (1994 est.)

      Electricity - capacity 389,000 kW 000 kW

      Electricity - production 1.402 billion kWh

      Electricity - consumption per capita 2,929 kWh (1995)

      Agriculture - products paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef,chicken; forest products and shrimp of increasing importance

      total value: $432 million (f.o.b., 1995 est.)
      commodities: alumina, aluminum, shrimp and fish, rice, bananas
      partners: Norway 33%, Netherlands 26%, US 13%, Japan 6%, Brazil 6%, UK 3% (1994)

      total value: $418 million (f.o.b., 1995 est.)
      commodities : capital equipment, petroleum, foodstuffs, cotton, consumer goods
      partners: US 40%, Netherlands 24%, Trinidad and Tobago 11%, Japan 3% (1994)

      Debt - external $198 million (1994)

      Economic aid
      recipient: ODA, the Netherlands provided a 1996 aid package of $224 million toSuriname, Aruba, and the Netherlands Antilles

      Currency 1 Surinamese guilder, gulden, or florin (Sf.) = 100 cents

      Exchange rates Surinamese guilders, gulden, or florins (Sf.) per US$1 - central bankmidpoint rate: 401.00 (January 1997), 401.26 (1996), 442.23 (1995), 134.12(1994); parallel rate: 412 (December 1995), 510 (December 1994), 109 (January1994)
      note : beginning July 1994, the central bank midpoint exchange rate was unifiedand became market determined

      Fiscal year calendar year

      NOTE: The information regarding Suriname on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Suriname Economy 1997 information contained here. All suggestions for corrections of any errors about Suriname Economy 1997 should be addressed to the CIA.

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    Revised 06-Mar-02
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