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Health & Wellness
Hospitality & Tourism
Oil & Gas
Agriculture
π¦ Economic Overview
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Suriname's economy has long depended on mining and energy sectors—notably gold, bauxite, oil, and alumina—which contribute about 30% of GDP apnews.com+15worldbank.org+15finance.yahoo.com+15.
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From 2001 to 2014, GDP grew ~4.4% annually, but by 2020 economic contraction occurred due to falling commodity demand and the pandemic, with GDP plummeting a further 16% .
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Around 17.5% of the population live below the poverty line, and inflation remains a significant challenge worldbank.org.
π’οΈ Oil & Gas Sector
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Staatsolie, the state oil company, currently accounts for about 10% of GDP, refining ~16,500 barrels per day and earning over $700β―million revenue in 2023 brazilenergyinsight.com+12en.wikipedia.org+12en.wikipedia.org+12.
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Major offshore discoveries in Blockβ―58 (TotalEnergies/APA) and other blocks promise a dramatic scale-up. The GranMorgu deepwater project (FID in October 2024) aims to begin production around 2028, reaching ~220,000β―bpd as-coa.org+11brazilenergyinsight.com+11brazilenergyinsight.com+11.
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Suriname also holds an estimated 2.4β―billion barrels of oil and 12.5β―Tcf of natural gas reserves, making it a potential rising oil power argusmedia.com+1energychamber.org+1.
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Staatsolie must raise $1.5β―billion to finance its 20% stake in GranMorgu, which could bring in $700β―million annually at peak output reuters.com+15reuters.com+15apnews.com+15.
π Impact & Outlook
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Government goals include replicating Guyana’s oil-driven prosperity, implementing a “royalties for everyone” program to distribute USβ―$750 savings notes with 7% interest to citizens en.wikipedia.org+2theguardian.com+2oilnow.gy+2.
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Economic growth is expected to stabilize at 2–3% per annum until oil revenues start flowing in 2028, then likely accelerate emfi.uk.
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Risks include potential inequality, “resource curse,” and governance challenges. Leaders are emphasizing transparency, sovereign wealth funds, and reinvestment in health, education, and infrastructure .