Suriname Economics and Business


In Suriname, Abbreviated as SUR by, business is dominated by the aluminum industry, which is based on the country’s rich bauxite deposits, as well as agriculture. Suriname also has large untapped timber resources that cover large parts of the hinterland as well as gold deposits. Previously, much of the gold trade took place outside the control of the state, but a change in the law in 2004 meant that more and more of the trade now takes place in the open market. Aluminum accounts for just over half of exports, while the gold industry contributes a quarter.

Suriname GDP (Nominal, $USD) 2003-2017

Note: the capital city of Suriname is Paramaribo with a population of 224,000 (estimate 2019). Other major cities include Lelydorp with a population of 18,200, Niuew Nickerie with a population of 13,100 (estimate 2019).

In agriculture, rice cultivation dominates, concentrated to the coastal region. Banana cultivation is also of some importance for exports. The United States, Switzerland and Belgium are the country’s most important trading partners.

According to COUNTRYAAH, Suriname had a current account surplus over a number of years, as well as a small foreign debt, mainly due to the Netherlands’ assistance. From the mid-1990s and ten years on, the domestic economy had a large budget deficit and rising inflation. However, from the mid-1990s, the trade balance has again shown a positive development, mainly due to increased gold exports.

Suriname Economics and Business

About the author