Economy of Suriname
Suriname is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Suriname may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Suriname exports around $2.51 billion and imports roughly $1.78 billion. 8.1% of population in the country are unemployed. The total number of unemployed people in Suriname is 46,032. In Suriname, 70% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Suriname is very high when compared with other nations. This situation is indicative of a variety of alarming economic and political factors. It is not advisable to make any investments in countries with this level of poverty. Government expenditure on education is 9% of GDP. The Gini Index of the country is 57.61. Suriname is experiencing inequality. The gap between the richest and poorest citizens in this country is significant and obvious, resulting in a drastically different standard of living for rich and poor citizens. Suriname has a Human Development Index (HDI) of 0.705. Suriname has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The strength of legal rights index for Suriname is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.
Currency
The currency of Suriname is Surinamese dollar. The plural form of the word Surinamese dollar is dollars. The symbol used for this currency is $, and it is abbreviated as SRD. The Surinamese dollar is divided into Cent; there are 100 in one dollar.
Credit rating
The depth of credit information index for Suriname is 0, which means that information, if any, is scarce, of insufficient details and almost inaccessible. According to the S&P credit-rating agency, Suriname has a credit rating score of BB-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Suriname has a credit rating score of BB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Suriname has a credit rating score of B1, and the prospects of this rating are stable.
Central bank
In Suriname, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Suriname. Locally, the central bank of Suriname is called Centrale Bank van Suriname. The average deposit interest rate offered by local banks in Suriname is 7.4%.
Public debt
Suriname has a government debt of 29.% of the country's Gross Domestic Product (GDP), as assessed in 2013.
Tax information
The corporate tax in Suriname is set at 36%. Personal income tax ranges from 38% to 38%, depending on your specific situation and income level. VAT in Suriname is 0%, and it is known as Sales Tax.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Suriname is $8987 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Suriname was last recorded at $16 million. PPP in Suriname is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Suriname is 5,299 billion. Based on this statistic, Suriname is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Suriname was last recorded at $9 million. The average citizen in Suriname has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Suriname averaged 3.3% in 2014. According to this percentage, Suriname is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Suriname.
Industry
Major industries in the country are bauxite and gold mining, alumina production, oil, lumbering, food processing, fishing. The total labor force of Suriname is 221,140 people, wherein 8.1% of population in the country are unemployed. The total number of unemployed people in Suriname is 46,032. The Industrial Production growth rate of Suriname is 6.5%.To read more about industrial information within Suriname click on industry of Suriname.
Agriculture
There are 581 km2 of arable land in Suriname, and it comprises 0% of the country's total territory. There are 678 km2 of cultivated land in Suriname. The country's major agricultural crops and products are paddy rice, bananas, palm kernels, coconuts, plantains, peanuts, beef, chickens, shrimp, forest products.To read more about agriculture click on agriculture of Suriname.