Suriname-Guyana Bilateral Trade Analysis 2023
Complete trade statistics: $284.66M total volume •Suriname deficit: $48.60M
Suriname → Guyana
$118.03M
Exports (2023)
Guyana → Suriname
$166.63M
Imports (2023)
Trade Balance
$48.60M
Deficit for Suriname
Total Trade
$284.66M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Suriname and Guyana. Green line shows exports from Suriname, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Suriname-Guyana commercial relationship and competitive positioning in global markets.
Suriname → Guyana Exports
Export Market Intelligence
🎯 Strategic Export Focus
Suriname's export portfolio to Guyana demonstrates strategic specialization, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Guyana → Suriname Imports
Import Dependency Profile
📦 Import Strategy Analysis
Suriname's import pattern from Guyana reveals strategic sourcingin floating or submersible drilling or production platforms, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Suriname demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Guyana, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $284.66M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Suriname-Guyana Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $284.66 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Suriname maintains a deficit of $48.60 million
- Export Focus: Suriname's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, pebbles, gravel, broken or crushed stone: of a kind commonly used for concrete aggregates, for road metalling or for railway or other ballast, shingle and flint, whether or not heat-treated, non-alcoholic beverages: other than non-alcoholic beer, n.e.c. in item no. 2202.10, not including fruit or vegetable juices of heading no. 2009
- Import Dependencies: Key imports from Guyana include floating or submersible drilling or production platforms, fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution, waters: including mineral and aerated, containing added sugar or other sweetening matter or flavoured
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $284.66M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Suriname leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Suriname's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Guyana's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in floating or submersible drilling or production platforms.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $284.66M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $284.66M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $284.66 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and floating or submersible drilling or production platforms demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Suriname's trade deficit of $48.60 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Suriname and Guyana represents a total trade volume of $284.66 million in 2023. This partnership demonstrates an unfavorable trade balance for Suriname, with imports exceeding exportsby $48.60 million.
Export Strengths
Suriname's exports to Guyana total $118.03 million, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $80.74M or68.4% of bilateral exports.
Import Dependencies
Imports from Guyana amount to $166.63 million, highlighting economic interdependence in floating or submersible drilling or production platforms, with Floating or submersible drilling or production platforms comprising88.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Suriname's strategic sourcing from Guyana. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Suriname and Guyana in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023