Economy-overview: The economy is dominated by the bauxite industry, which accounts for more than 15% of GDP and 70% of export earnings. Following a dismal year in 1994-which saw the value of the Surinamese guilder plummet by about 70%, inflation rise to more than 600%, and national output fall for the fifth consecutive year-nearly all economic indicators improved in 1995-97. The VENETIAAN government unified the exchange rate as part of its structural adjustment program (SAP). After assuming power in the fall of 1996, the WIJDENBOSCH government ended the SAP claiming it was unfair to the poorer elements of society. Tax revenues fell as old taxes lapsed and the government failed to implement new tax alternatives. By the end of 1997, the allocation of new Dutch development funds was frozen as Surinamese government relations with Holland deteriorated. Suriname's economic prospects for the medium term will depend on renewed commitment to financially responsible monetary and fiscal policies.
GDP: purchasing power parity-$1.44 billion (1997 est.)
GDP-real growth rate: 4% (1997 est.)
GDP-per capita: purchasing power parity-$3,400 (1997 est.)
GDP-composition by sector: agriculture: 14% industry: 33% services: 53% (1994)
Inflation rate-consumer price index: 8% (1997 est.)
Labor force: NA by occupation: agriculture, industry, services
Unemployment rate: 20% (1997)
Budget: revenues: $317 million expenditures: $333 million, including capital expenditures of $52 million (1997 est.)
Industries: bauxite and gold mining, alumina and aluminum production, lumbering, food processing, fishing