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Suriname Photo News Suriname Headlines
(Photo: AP / Xinhua, Zhang Guojun)
photo: AP / Xinhua, Zhang Guojun
Suriname under scrutiny as ex-dictator returns
Paramaribo: A former coup leader, convicted drug trafficker and accused murderer is being sworn in as Suriname's President on Thursday, and shop owner Sunil Oemrawsingh is so appalled he can't even wa...
» Mexico: Soldiers kill 25 in gunbattle near border
» El Salvador makes gang membership illegal in wake of attack on passenger bus that killed 17
» New Suriname president back in power after illness
» New Suriname president back in power after illness
» New Suriname president back in power after illness
» New Suriname president back in power after illness
» New Suriname President Back In Power After Illness
» New Suriname president back in power after illness
» New Suriname president back in power after illness
» New Suriname president back in power after illness
» New Suriname President Back in Power After Illness
» New Suriname president back in power after illness
» Suriname's new president back in power after weeklong illness; confirms had dengue
» LEAD: Japan, Caribbean nations agree to cooperate on climate, Haiti+
» Japan, Caribbean nations discuss climate change, aid for Haiti+
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Suriname Map

Background Suriname

Independence from the Netherlands was granted in 1975. Five years later the civilian government was replaced by a military regime that soon declared a socialist republic. It continued to rule through a succession of nominally civilian administrations until 1987, when international pressure finally forced a democratic election. In 1990, the military overthrew the civilian government, but a democratically elected government returned to power in 1991.

Economy - overview:

The economy is dominated by the mining industry, which accounts for more than a third of GDP and subjects government revenues to mineral price volatility. The short-term economic outlook depends on the government's ability to control inflation and on the development of projects in the bauxite and gold mining sectors. Suriname's economic prospects for the medium term will depend on continued commitment to responsible monetary and fiscal policies and to the introduction of structural reforms to liberalize markets and promote competition. The government of Ronald VENETIAAN, in his first term, implemented an austerity program, raised taxes, and attempted to control spending. Economic policies are likely to remain the same during VENETIAAN's second term. Prospects for local onshore oil production are good, as a drilling program is underway. Offshore oil drilling was given a boost in 2004 when the State Oil Company (Staatsolie) signed exploration agreements with Repsol, Mearsk, and Occidental.

GDP (purchasing power parity): $2.818 billion (2005 est.)

GDP (official exchange rate): $1.3 billion (2005 est.)

GDP - real growth rate: 2% (2005 est.)

GDP - per capita (PPP): $4,100 (2005 est.)

GDP - composition by sector:
agriculture: 13%
industry: 22%
services: 65% (2001)

Labor force: 156,700 (2004)

Labor force - by occupation:
agriculture: 8%
industry: 14%
services: 78%

Unemployment rate: 9.5% (2004)

Population below poverty line: 70% (2002 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 9.5% (2005 est.)

Budget:
revenues: $392.6 million
expenditures: $425.9 million (2004)

Agriculture - products: paddy rice, bananas, palm kernels, coconuts, plantains, peanuts; beef, chickens; shrimp; forest products

Industries: bauxite and gold mining, alumina production; oil, lumbering, food processing, fishing

Industrial production growth rate: 6.5% (1994 est.)

Electricity - production: 2.014 billion kWh (2003)

Electricity - consumption: 1.873 billion kWh (2003)

Electricity - exports: 0 kWh (2003)

Electricity - imports: 0 kWh (2003)

Oil - production: 12,000 bbl/day (2004 est.)

Oil - consumption: 14,000 bbl/day (2004 est.)

Oil - exports: 1,370 bbl/day (2003)

Oil - imports: 1,644 bbl/day (2003)

Oil - proved reserves: 150 million bbl (2005)

Natural gas - production: 0 cu m (2003 est.)

Natural gas - consumption: 0 cu m (2003 est.)

Natural gas - proved reserves: 0 cu m (2005)

Exports: $881 million f.o.b. (2004 est.)

Exports - commodities: alumina, crude oil, lumber, shrimp and fish, rice, bananas

Exports - partners: Norway 29.4%, US 15.2%, Canada 12.5%, Belgium 10.2%, France 8.5%, UAE 6.2% (2004)

Imports: $750 million f.o.b. (2004 est.)

Imports - commodities: capital equipment, petroleum, foodstuffs, cotton, consumer goods

Imports - partners: US 26.2%, Netherlands 19.3%, Trinidad and Tobago 13.5%, Japan 6.6%, China 4.6%, Brazil 4.1% (2004)

Debt - external: $504.3 million (2005 est.)

Economic aid - recipient: Netherlands provided $37 million for project and program assistance, European Development Fund $4 million, Belgium $2 million (2003)

Currency (code): Surinam dollar (SRD)

Exchange rates:
Surinamese dollars per US dollar - 2.7317 (2005), Surinamese guilders per US dollar - 2.7336 (2004), 2.6013 (2003), 2.3468 (2002), 2.1785 (2001) note: during 1998, the exchange rate splintered into four distinct rates; in January 1999 the government floated the guilder, but subsequently fixed it when the black-market rate plunged; in January 2004, the government introduced the Surinamese dollar as replacement for the guilder, tied to a US dollar-dominated currency basket

Fiscal year: calendar year



Country Energy Data Report
Suriname Year:
2002
Energy Production (Quads) = .0383 Energy Consumption (Quads) = .0397

Oil (Thousand Barrels per Day)



Refinery


Stock


Production
Output
Imports
Exports
Build
Consumption

Crude Oil
10.00


0.00
1.71
0.00
0.00

NGL's
0.00

0.00
0.00
0.00
0.00

Other Oils
0.00

0.00
0.00
0.00
0.00

Refinery Gain
-.50





Gasoline

0.00
1.58
0.00
0.00
1.58

Jet Fuel

0.00
.47
0.00
0.00
.47

Kerosene

0.00
.09
0.00
0.00
.09

Distillate

.77
2.13
0.00
0.00
2.89

Residual

5.79
0.00
.96
0.00
4.83

LPG's

.01
.67
0.00
0.00
.68

Unspecified

.16
.17
0.00
0.00
.91

TOTALS
9.50
6.73
5.11
2.67
0.00
11.45

Natural Gas (Billion Cubic Feet and Quadrillion Btu)

Gross Production (Billion Cubic Feet) 0.00
Dry Imports (Billion Cubic Feet) 0.00

Vented and Flared (Billion Cubic Feet) 0.00
Dry Exports (Billion Cubic Feet) 0.00

Reinjected (Billion Cubic Feet) 0.00

Marketed Production (Billion Cubic Feet) 0.00

Dry Production (Billion Cubic Feet) 0.00
Dry Production (Quadrillion Btu) 0.0000

Dry Consumption (Billion Cubic Feet) 0.00
Dry Consumption (Quadrillion Btu) 0.0000

Coal (Thousand Short Tons and Quadrillion Btu)

Production
Imports
Exports
Stock Build

(1000 Tons)
(Quads) (1000 Tons)
(Quads)
(1000 Tons) (Quads)
(1000 Tons) (Quads)

Hard Coal

0
0.0000
0 0.0000
0 0.0000

--- Anthracite
0
0.0000



--- Bituminous
0
0.0000



Lignite
0
0.0000 0
0.0000
0 0.0000
0 0.0000

Coke

0
0.0000
0 0.0000
0 0.0000

Total Coal
0
0.0000 0
0.0000
0 0.0000
0 0.0000

Consumption : (1000 Tons) = 0
(Quads) =
0.0000

Electricity (Million Kilowatts, Billion Kilowatt Hours, and Quadrillion Btu)

Capacity
Generation

(Million kw)
(Billion kwh)
(Quads)
(Billion kwh) (Quads)

Hydroelectric .189
1.500
.0153
Total Imports 0.000
0.0000

Nuclear 0.000
0.000
0.0000
Total Exports 0.000
0.0000

Geothermal and Other 0.000
0.000
0.0000
Losses .139

Thermal .200
.484

Totals .389
1.984
Consumption 1.845