The Gross Domestic Product (GDP) in Suriname was last recorded at 3.43 billion US dollars in 2018. Suriname runs trade surpluses due to exports of oil, gold, hardwood and bananas. The country is a net importer of fuel, food, clothing and machinery. Suriname recorded a trade surplus of 148.20 USD Million in the first quarter of 2019.
As a member of the Caribbean Community and Common Market (CARICOM), Suriname has a common external tariff system that varies between 0-20%. The current trading system is free of non-tariff trade barriers, with the exception of issues related to the protection of national security, protection of public morals, humanity, health and the environment. Some important trade partners of Suriname are the United States of America, the Netherlands, Belgium, France, Norway, Trinidad and Tobago, China and Japan.
The top exports of Suriname are:
Precious Metal Scraps ($323M)
Refined Petroleum ($133M)
Rough Wood ($68.2M)
Bananas ($50.8M), using the 1992 revision of the HS (Harmonized System) classification.
The top imports of Suriname are:
Refined Petroleum ($125M)
Excavation Machinery ($62.9M)
Delivery Trucks ($54.8M)
Large Construction Vehicles ($29.6M).
Suriname’s economic policy is aimed towards diversification of its economy which contributes to the regional integration strategy participation in the CARICOM Single Market and Economy (CCSME).
Suriname is also engaged in various major external trade negotiations on a multilateral level as well as on a regional level:
Doha Development Agenda (DDA) negotiations in the World Trade Organization (WTO)
CARICOM (CARICOM-CUBA, CARICOM-Dominican Republic, CARICOMCosta Rica)
CARIFORUM-EU Economic Partnership Agreement (EPA) (in review process)
Trade Preferential System-Organization of Islamic Cooperation (TPS-OIC)
Union of South American Countries (UNASUR)
Community of Latin America and Caribbean States (CELAC)