The economy is dominated by the mining industry, with exports of alumina, gold, and oil accounting for about 85% of exports and 25% of government revenues, making the economy highly vulnerable to mineral price volatility. In 2000, the government of Ronald VENETIAAN, returned to office and inherited an economy with inflation of over 100% and a growing fiscal deficit. He quickly implemented an austerity program, raised taxes, attempted to control spending, and tamed inflation. Economic growth reached about 6% in 2007 and 2008, owing to sizeable foreign investment in mining and oil. Suriname has received aid for projects in the bauxite and gold mining sectors from Netherlands, Belgium, and the European Development Fund. The economy contracted in 2009, however, as investment waned and the country earned less from its commodity exports when global prices for most commodities fell. Trade picked up, boosting Suriname's economic growth in 2010, but the government's budget remained strained, with increased social spending during last year's election. 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.
GDP (purchasing power parity):
$4.794 billion (2010 est.) country comparison to the world: 162 $4.632 billion (2009 est.)
$4.541 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$3.297 billion (2010 est.)
GDP - real growth rate:
3.5% (2010 est.) country comparison to the world: 99 2% (2009 est.)
7% (2008 est.)