Trade

Trade Relations

Suriname is intensifying all its trade relations with other countries.

The Economy

Suriname has many unrealized trade export potentials and untouched business opportunities.

Suriname’s economy is currently principally based on the export of gold, aluminum oxide (alumina), and small amounts of aluminum produced from bauxite. Democracy in Suriname has strengthened in recent years, creating an economy that is more diversified and less dependent on external financial assistance.

The country’s biodiversity makes it an attractive destination for eco-tourism. The country still has many opportunities to broaden its economic base and diversify its trading partners. If you are an investor, entrepreneur, or student, we invite you to come to Suriname and start doing business here. Source: ITC

3 Views on Trade with Suriname

You can look at Suriname in different ways:

One way is that it is a small country, with a small population and a small internal economy.
Another way is looking at Suriname as potentially the largest agricultural partner for the region/in Caricom, a single market of 14 countries and 15 million people. https://caricom.org/
The third way of looking at Suriname is that it is a potential logistics and technology gateway and a popular Free Trade Zone for South America, specifically Brazil.

Each of these three views gives different business opportunities for trade with Suriname. Below, you will read figures on imports and exports, and the potential for Suriname as a supplier to the region/Caricom.

GDP

The Gross Domestic Product (GDP) in Suriname was worth 3.43 billion US dollars in 2018. Source: Trading Economics.

This diagram shows a significant increase in GDP for the last 2 years and projected growth. Source: Statista.

Trade Balance

Suriname recorded a trade surplus of 148.20 USD Million in the first quarter of 2019. Source: Trading Economics

1. Exports

Suriname runs trade surpluses due to exports of bauxite. Suriname's top exports are gold, precious metal scraps, refined petroleum, rough wood, and bananas. Our main trading partner is the United States (23 percent of total exports and 26 percent of imports). Other trading partners include: The Netherlands, United Arab Emirates, and Guyana.

In 2017, Suriname exported $2.69B, making it the 123rd largest exporter in the world. Over the last five years, Suriname's exports have increased at an annualized rate of 8.5%, from $1.06B in 2012 to $2.69B in 2017. The most recent exports are led by gold, which represent 67.3% of Suriname's total exports, followed by Precious Metal Scraps, which account for 12%. Source: OEC

2. Imports

In 2017, Suriname imported $1.38B, making it the 161st largest importer in the world. Over the last five years, Suriname's imports have decreased at an annualized rate of -7.2%, from $1.47B in 2012 to $1.38B in 2017. The most recent imports are led by Refined Petroleum (fuel), which represents 9.1% of Suriname's total imports, followed by Excavation Machinery, which accounts for 4.57%. Other top imports are Delivery Trucks, Cars, Large Construction Vehicles, food, and clothing. Source: OEC

Trade Potential in the Region/Caricom

When looking at the region and Caricom, Suriname has various unrealized potentials for trade. This is because of market demands.

Source: ITC

From Import to Export

Currently, Suriname and the Caricom countries are importing food, fruits, and meat. Suriname should, given the opportunities, be exporting food, fruits, and meat, and be the largest importer of these in CARICOM.

Interested in Doing Business?

Are you interested in doing business with Suriname, building a startup, subsidiary, or investing? Please contact us for more information and check out the published business opportunities