Suriname - Country Code 597
IDD Code: 00
Country Code: 597
ISO: SR
ISO3: SUR
Helpful Information About Suriname
Time
Monday, December 23, 2024
Capital: Paramaribo
Time Zone
UTC-03:30
Time Difference
Paramaribo, Suriname is ()
Daylight Savings Time
Suriname does not follow DST
Weather
Country Map
Country Flag
City Calling Codes
| City | Calling Code |
|---|---|
| Paramaribo | +597-4 |
| Paramaribo | +597-5 |
About Suriname Country NameSuriname
ContinentSouth America
Lat/Long3.91930500, -56.02778300
BackgroundFirst explored by the Spaniards in the 16th century and then settled by the English in the mid-17th century, Suriname became a Dutch colony in 1667. With the abolition of African slavery in 1863, workers were brought in from India and Java. The Netherlands granted the colony independence in 1975. Five years later the civilian government was replaced by a military regime that soon declared Suriname a socialist republic. It continued to exert control through a succession of nominally civilian administrations until 1987, when international pressure finally forced a democratic election. In 1990, the military overthrew the civilian leadership, but a democratically elected government - a four-party coalition - returned to power in 1991. The coalition expanded to eight parties in 2005 and ruled until August 2010, when voters returned former military leader Desire BOUTERSE and his opposition coalition to power. President BOUTERSE was reelected unopposed in 2015.
Population585,824 (July 2016 est.)
LanguagesDutch (official), English (widely spoken), Sranang Tongo (Surinamese, sometimes called Taki-Taki, is the native language of Creoles and much of the younger population and is lingua franca among others), Caribbean Hindustani (a dialect of Hindi), Javanese
ReligionsProtestant 23.6% (includes Evangelical 11.2%, Moravian 11.2%, Reformed .7%, Lutheran .5%), Hindu 22.3%, Roman Catholic 21.6%, Muslim 13.8%, other Christian 3.2%, Winti 1.8%, Jehovah's Witness 1.2%, other 1.7%, none 7.5%, unspecified 3.2% (2012 est.)
Ethnic GroupsHindustani (also known locally as "East Indians"; their ancestors emigrated from northern India in the latter part of the 19th century) 27.4%, "Maroon" (their African ancestors were brought to the country in the 17th and 18th centuries as slaves and escaped to the interior) 21.7%, Creole (mixed white and black) 15.7%, Javanese 13.7%, mixed 13.4%, other 7.6%, unspecified 0.6% (2012 est.)
Economy
EconomySuriname’s economy is dominated by the mining industry, with exports of oil and gold accounting for approximately 85% of exports and 27% of government revenues. This makes the economy highly vulnerable to mineral price volatility. The worldwide drop in international commodity prices and the cessation of alumina mining in Suriname significantly reduced government revenue and national income during the past few years. After 99 years of operations, a major US aluminum company recently discontinued its activities in Suriname. Public sector revenues fell, together with exports, international reserves, employment, and private sector investment.
Economic growth declined annually from just under 5% in 2012 to -10.4% in 2016. In January 2011, the government devalued the currency by 20% and raised taxes to reduce the budget deficit. Suriname began instituting macro adjustments between September 2015 and 2016; these included another 20% currency devaluation in November 2015 and foreign currency interventions by the Central Bank until March 2016, after which time the Bank allowed the Surinamese Dollar (SRD) to float. By December 2016, the SRD had lost 46% of its value against the dollar. High import price pass-through from depreciation and electricity tariff increases caused inflation to increase 55.5% year-over-year in December 2016.
Suriname's economic prospects for the medium-term will depend on continued commitment to responsible monetary and fiscal policies and on the introduction of structural reforms to liberalize markets and promote competition. The government's over-reliance on revenue from the extractive sector colors Suriname's economic outlook. One credit bureau forecasted that the economy would contract 2% in 2017. Rising international oil prices and higher production by Suriname’s oil company, Staatsolie’s, will lift oil exports. Two new offshore oil exploration wells will draw 100 million dollars in foreign direct investment inflows. Higher gold prices and increased production from the Merian gold mine also will lift exports. However, investment overall is slowing and unemployment is rising, reflecting government spending cuts, weak business confidence, and the completion of large mining infrastructure projects. Fiscal problems, such as a failure to secure sufficient external financing, could result in additional pressure on the exchange rate and inflation.
Economic growth declined annually from just under 5% in 2012 to -10.4% in 2016. In January 2011, the government devalued the currency by 20% and raised taxes to reduce the budget deficit. Suriname began instituting macro adjustments between September 2015 and 2016; these included another 20% currency devaluation in November 2015 and foreign currency interventions by the Central Bank until March 2016, after which time the Bank allowed the Surinamese Dollar (SRD) to float. By December 2016, the SRD had lost 46% of its value against the dollar. High import price pass-through from depreciation and electricity tariff increases caused inflation to increase 55.5% year-over-year in December 2016.
Suriname's economic prospects for the medium-term will depend on continued commitment to responsible monetary and fiscal policies and on the introduction of structural reforms to liberalize markets and promote competition. The government's over-reliance on revenue from the extractive sector colors Suriname's economic outlook. One credit bureau forecasted that the economy would contract 2% in 2017. Rising international oil prices and higher production by Suriname’s oil company, Staatsolie’s, will lift oil exports. Two new offshore oil exploration wells will draw 100 million dollars in foreign direct investment inflows. Higher gold prices and increased production from the Merian gold mine also will lift exports. However, investment overall is slowing and unemployment is rising, reflecting government spending cuts, weak business confidence, and the completion of large mining infrastructure projects. Fiscal problems, such as a failure to secure sufficient external financing, could result in additional pressure on the exchange rate and inflation.
GDP$3.251 billion (2016 est.)
CurrencyDollar
Communications
Internet TLD.sr
Internet Users248,000
Land Lines85,000
Mobile Phones991,000
Broadcast Media2 state-owned TV stations; 1 state-owned radio station; multiple private radio and TV stations (2007)