Economy ———-
Economic overview: The economy is dominated by the bauxite industry, which accounts for upwards of 15% of GDP and more than 65% of export earnings. Following a dismal year in 1994 which saw the value of the Surinamese currency plummet by about 80%, inflation rise to more than 600%, and national output fall for the fifth consecutive year, nearly all economic indicators improved in 1995. The VENETIAAN government unified the exchange rate and the currency gained some of its lost value. In addition, inflation fell to double digits and tax revenues increased sufficiently to nearly erase the budget deficit. The release of substantial development aid from the Netherlands - which had been held up due to the government's failure to initiate economic reforms - also helped buoy the economy. Suriname's economic prospects for the medium term will depend on continued implementation of needed economic restructuring; the outcome of the national elections in May 1996 will be an important factor in determining future government policy.
GDP: purchasing power parity - $1.3 billion (1995 est.)
GDP real growth rate: 0.7% (1995 est.)
GDP per capita: $2,950 (1995 est.)
GDP composition by sector: agriculture: 21.6% industry: 23.7% services: 54.7% (1994 est.)
Inflation rate (consumer prices): 62% (1995)
Labor force: 98,240 by occupation: agriculture, industry, services
Unemployment rate: NA%
Budget:
revenues: $300 million
expenditures: $700 million, including capital expenditures of $70
million (1994 est.)