Suriname: Trade Profile

Foreign Trade in Figures

Suriname is highly dependent on foreign trade, which represents around 90% of the country's GDP (World Bank, latest data available). The country’s heavy reliance on the extractive sector (over three-quarters of Suriname's exports) renders its trade especially vulnerable to global commodity prices. The country's main exports include gold (79.9%), refined petroleum (4.7%), rough wood (2.9%), non-fillet frozen fish (2.1%), rolled tobacco (1.8%); whereas imports are led by refined petroleum (9.4%), special purpose ships (8.6%), excavation machinery (4.5%), delivery trucks (3.8%), and rolled tobacco (3.7% - data OEC 2023).

Suriname's main import partners include the United States (26.7%), China (14.7%), the Netherlands (13.9%), Trinidad and Tobago (10.6%), and Guyana (10%); with exports being directed mainly towards Switzerland (50.4%), the United Arab Emirates (28.5%), Guyana (5.0%), the United States (3.8%), and France (3.1% - data OEC 2023). The country is a member of the WTO, CARICOM, and CARIFORUM, and has trade agreements with Brazil, Venezuela, and Costa Rica. However, inadequate technical capabilities and the State's interference in the country’s economy limit trade. The trade licensing system is also outdated and extremely time-consuming.

Unlike many countries in the region, Suriname generally runs a merchandise trade surplus. According to the WTO, the country exported USD 2.49 billion worth of goods in 2023, vis-à-vis USD 1.82 billion in imports (-3.1% and +1% year-on-year, respectively – latest data available). Concerning services, exports stood at USD 172 million, much lower than imports (USD 633 million).

Foreign Trade Indicators	2020	2021	2022	2023	2024
Imports of Goods (million USD)	1,533	1,381	1,803	1,697	1,648
Exports of Goods (million USD)	2,193	2,291	2,836	2,311	1,296
Imports of Services (million USD)	559	536	637	630	919
Exports of Services (million USD)	97	95	139	168	202
Trade Balance (million USD)	1,061	865	755	788	931

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

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Main Services

0.2 bn USD of services exported in 2023
Other business servicesOther business services	44.55%
TransportTransport	17.13%
TravelTravel	16.89%
Telecommunications, computer, and...Telecommunications, computer, and information services	11.14%
Insurance and pension servicesInsurance and pension services	4.11%
Government goods and services n.i.e.Government goods and services n.i.e.	3.28%
ConstructionConstruction	1.92%
Financial servicesFinancial services	0.94%
Personal, cultural, and recreational...Personal, cultural, and recreational services	0.04%
Charges for the use of intellectual...Charges for the use of intellectual property n.i.e.	n/a%

0.6 bn USD of services imported in 2023
Other business servicesOther business services	45.52%
TransportTransport	18.85%
TravelTravel	14.15%
Telecommunications, computer, and...Telecommunications, computer, and information services	5.83%
Maintenance and repair services n.i.e.Maintenance and repair services n.i.e.	4.53%
Insurance and pension servicesInsurance and pension services	3.37%
ConstructionConstruction	3.32%
Financial servicesFinancial services	3.11%
Charges for the use of intellectual...Charges for the use of intellectual property n.i.e.	1.09%
Government goods and services n.i.e.Government goods and services n.i.e.	0.21%
Personal, cultural, and recreational...Personal, cultural, and recreational services	0.02%

Source: United Nations Statistics Division, Latest Available Data

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Trade Compliance

International Conventions: Member of the World Trade Organization (WTO)
International Economic Cooperation: Member of CARICOM - Caribbean Community

Member of FTAA - Free Trade Area of the Americas
Useful Resources
National Organisation of Intellectual Property: You can contact the Intellectual Property Office by Email.

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