Suriname - Market OverviewSuriname - Market Overview
Suriname’s small commodity-based economy (GDP of US$ 3.2 billion and a population of 591,919 in 2017) depends heavily on the revenues from the export of gold and crude oil, while rice, fish, and bananas play a secondary role. Declines in global commodity prices along with fiscal management issues stunted the nation’s economic growth, compelling Suriname to seek and obtain a $478 million IMF Stand-By Arrangement in 2016. One year later, in May 2017, the Stand-By Arrangement was terminated after an official request by the GOS. Inflation in 2017 was approximately 9.2 percent. Credit rating bureau Moody’s downgraded the issuer rate to B2 negative, while Standards and Poor and Fitch adjusted the outlook from negative to stable. The government expects further growth in gold and oil, but recognizes the need for economic diversification and has identified tourism and agriculture as candidate sectors. Suriname relies heavily on imported consumer products. In 2017, imports totaled $1.9 billion. Major imports from the United States include chemicals, mining equipment, poultry, and consumer goods. Suriname is a member of CARICOM, UNASUR, MERCOSUR, and the WTO. Suriname also participates in the European Partnership Agreement with the CARIFORUM countries.s. Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Suriname Trade Development and Promotion