US—Ambassador John (Jack) P. LEONARD; Embassy at Dr. Sophie
Redmonstraat 129, Paramaribo (mailing address is P. O. Box 1821,
Paramaribo); telephone [597] 72900, 77881, or 76459
_#_Flag: five horizontal bands of green (top, double width), white, red (quadruple width), white, and green (double width); there is a large yellow five-pointed star centered in the red band
_*Economy #_Overview: The economy is dominated by the bauxite industry, which accounts for about 70% of export earnings and 40% of tax revenues. The economy has been in trouble since the Dutch ended development aid in 1982. A drop in world bauxite prices that started in the late 1970s and continued until late 1986, was followed by the outbreak of a guerrilla insurgency in the interior. The guerrillas targeted the economic infrastructure, crippling the important bauxite sector and shutting down other export industries. These problems have created high inflation, high unemployment, widespread black market activity, and a bad climate for foreign investment. A small gain in economic growth of 2.0% was registered in 1989 due to reduced guerrilla activity and improved international markets for bauxite.
_#_GDP: $1.35 billion, per capita $3,400; real growth rate 2.0% (1989 est.)
_#_Inflation rate (consumer prices): 50% (1989 est.)
_#_Unemployment rate: 33% (1990)
_#_Budget: revenues $466 million; expenditures $716 million, including capital expenditures of $123 million (1989 est.)
_#_Exports: $425 million (f.o.b., 1988 est.);
commodities—alumina, bauxite, aluminum, rice, wood and wood products, shrimp and fish, bananas;
partners—Norway 33%, Netherlands 20%, US 15%, FRG 9%, Brazil 5%, UK 5%, Japan 3%, other 10%