General Information related to the business environment Suriname 2016


Suriname is a small upper middle-income country with a GDP per capita of US$ 9,363 at the end of 2015. Suriname has been recording encouraging economic growth rates for the 14 years, even during the global recession of 2008-2009 and amidst continued cloudy international economic environment. However, the sharp decline in international bauxite, gold and oil prices have led to lower export earnings from these sectors, which in turn contribute to a significant drop in Government revenues and the discontinuation of activities of the bauxite company Suralco, which has contributed substantially to economic activity in the country. Consequently, economic growth is estimated to be -2.1% in 2015 (Table 2) and is expected to decline further in 2016, due to reduced overall economic activity, the winding down of investments in the mining sector and a large drop in real Government spending.

At the end of 2015, Suriname recorded an end-of-period inflation rate of 25.1 percent (Table 2), while the international reserves stood at 2.2 months of imports of goods and services, (excluding imports from the mining sector). Although a substantial increase in debt, Suriname’s Government debt was still amongst the lowest within the Caribbean, amounted to 50.9 percent of GDP in 2015.


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