flag Suriname Suriname: Trade Profile

Foreign Trade in Figures

Suriname is highly dependent on foreign trade, which represents 91% 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 (69%), refined petroleum (9.5%), excavation machinery (4%), rough wood (2.7%), and rolled tobacco (1.3%); whereas imports are led by refined petroleum (10.2%), excavation machinery (4.0%), cars (3.0%), rolled tobacco (2.7%), and delivery trucks (2.5% - data OEC 2022).

Suriname's main import partners include the United States (24.9%), China (14.8%), Netherlands (12.8%), Trinidad and Tobago (5.5%), and Japan (3%), with exports being directed mainly towards Switzerland (39.1%), the United Arab Emirates (20.7%), Belgium (10.3%), Guyana (5.4%), and Trinidad and Tobago (4.3% - data OEC 2022). 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 The trade licensing system is also outdated and extremely time-consuming.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 2.5 billion worth of goods in 2022, vis-à-vis USD 1.8 billion in imports (+12.5% and +30.5% year-on-year, respectively). Concerning services, exports stood at USD 143 million, much lower than imports (USD 640 million).

 
Foreign Trade Indicators 20192020202120222023
Imports of Goods (million USD) 1,7111,5331,3811,8031,822
Exports of Goods (million USD) 2,1552,1932,2912,5792,498
Imports of Services (million USD) 815563538640633
Exports of Services (million USD) 15710396143172
Trade Balance (million USD) 5321,061865755n/a

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

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To go further, check out our service Import controls and Export Controls

To go further, check out our service Import-Export Flows

 
 

Main Services

0.2 bn USD of services exported in 2023
44.88%
17.02%
16.78%
9.38%
4.09%
3.26%
1.91%
1.69%
0.93%
0.04%
n/a%
0.6 bn USD of services imported in 2023
47.69%
19.74%
14.82%
4.22%
3.53%
3.48%
3.26%
1.89%
1.14%
0.22%
0.02%

Source: United Nations Statistics Division, Latest Available Data

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List of tariffs and local taxes that apply to your product on our service Customs Duties

 

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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Latest Update: May 2024