Economy overview: According to BARBLEJEWELRY, the rapid collapse of the Yugoslav Federation in 1991 was followed by a devastating war, the destabilization of the republic’s borders, and the disruption of important inter-republican trade ties. In 1992-93 production in Yugoslavia was halved. Like other former Yugoslav republics, Yugoslavia was heavily dependent on supplies of energy and products from neighboring republics. Significant climatic differences, the difference in the available mineral raw materials and the technological level further exacerbate this interdependence, as well as the concentration of industrial production practiced by the communist regime in a small number of gigantic factories. Economic difficulties for the republics are added by the rupture of trade ties, a sharp drop in industrial production, the loss of suppliers and markets, and material damage caused by collisions. Hyperinflation was brought to a halt with the introduction of a new currency in June 1993; prices remained relatively stable from 1995 to 1997, but inflationary pressures resumed again in 1998. Statistics continue to be unreliable and estimates of GDP are highly approximate. The economic boom expected by the government after the suspension of UN sanctions in December 1995 did not occur. The main blame for the economic downturn lies with the government, but the destruction of Serbian infrastructure and industry by NATO bombing during the Kosovo War has also added to the economic woes. All sanctions have now been lifted. Yugoslavia begins economic reforms. There is an acute shortage of electricity as a result of insufficient investment by the former regimes, depletion of reservoirs due to prolonged drought and lack of money. GDP grew by about 15% in 2000, offsetting much of the 20% fall in GDP in 1999.
GDP: at purchasing power parity – $24.2 billion (2000 est.).
Real GDP growth rate: 15% (2000 est.).
GDP per capita: Purchasing power parity – $2,300 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 20%; industry: 50%; services: 30% (1998 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 42% (1999 est.).
Labor force: 1.6 million people (1999 est.).
Employment structure: no data.
Unemployment rate: 30% (2000 est.).
Budget: income: no data; costs: no data.
Spheres of the economy: mechanical engineering (production of aircraft, trucks and cars; tanks and other weapons; electrical equipment; agricultural equipment); metallurgy (steel, aluminum, copper, lead, zinc, chromium, antimony, bismuth, cadmium); mining (coal, bauxite, non-ferrous metal ores, iron ore, limestone); production of consumer goods (textiles, shoes, food, household appliances); electronic industry, oil refining, chemical and pharmaceutical industry.
Growth in industrial production: -22% (1999 est.).
Power generation: 34.455 billion kWh (1999).
Sources of electricity generation: fossil fuels: 70%; hydropower: 30%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 33.006 billion kWh (1999)
Electricity export: 960 million kWh (1999).
Electricity import: 1.923 billion kWh (1999)
Agricultural products: grain, fruits, vegetables, tobacco, olives; cattle, sheep, goats.
Export: $1.5 billion (1999)
Exports: manufactured goods, foodstuffs and livestock, raw materials.
Export partners: Bosnia and Herzegovina, Italy, Former Yugoslav Republic of Macedonia, Germany (1998).
Imports: $3.3 billion (1999)
Imports: machinery and transport equipment, fuels and lubricants, manufactured goods, chemicals, food and livestock, raw materials.
Import partners: Germany, Italy, Russia, Former Yugoslav Republic of Macedonia (1998).
External debt: $14.1 billion (1999 est.) Recipient of economic assistance: no data.
Economic aid donor:
Currency: New Yugoslav dinar; note – Montenegro uses the Deutsche Mark as legal tender (1999).
Currency code: YUM.
Exchange rate: YUM/USD – official rate: 10.0 (December 1998), 5.85 (December 1997), 5.02 (September 1996), 1.5 (early 1995); black market rate: 14.5 (December 1998), 8.9 (December 1997), 2 to 3 (early 1995).
Fiscal year: calendar year.
Telecommunications Telephone lines: 2.017 million (1995).
Mobile cell phones: 87,000 (1997).
Telephone system: internal: no data; international: satellite earth station – 1 Intelsat (Atlantic Ocean).
Broadcast stations: AM – 113, FM – 194, shortwave -2 (1998).
Radio receivers: 3.15 million (1997)
Television broadcast stations: over 771 (including 86 high-power stations and 685 low-power stations, as well as 20 repeaters of the main networks; also numerous local or private stations in Serbia and Vojvodina) (1997).
Televisions: 2.75 million (1997)
Internet country code: yu
Internet service providers: 9 (2000).
Number of users: 80,000 (2000).
Transport Railways: total: 4,095 km; standard gauge: 4,095 km (1.435 m gauge) (since 1992, 1,377 km partially electrified); note: during the conflict in Kosovo in 1999, the Serbian railway system suffered significant damage due to the destruction of bridges; many railway bridges have been restored, but the bridge over the Danube in the city of Novi Sad had not been restored by the beginning of 2000, but bypass routes are possible; Montenegrin railways are not damaged.
Roads: total: 48,603 km; paved: 28,822 km (including 560 km of motorways); unpaved: 19,781 km (1998 est.); note: due to the conflict in Kosovo in 1999, many road bridges were destroyed; after the end of the conflict in June 1999, Serbia is implementing a program to rebuild bridges or build bypass roads.
Waterways: 587 km; the Danube flows through Serbia, linking Europe with the Black Sea; in early 2000, the river was blocked near the city of Novi Sad by a pontoon bridge; the canal system in the north of the country can serve as a bypass, but there are restrictions on the size of ships (2001).
Pipelines: for crude oil – 415 km; for refined products – 130 km; for natural gas – 2,110 km.
Ports and harbours: Bar, Belgrade, Zelenika, Kotor, Novi Sad, Pancevo, Tivat.
Merchant fleet: total: 1 ship (displacement 1,000 tons or more) with a total displacement of 2,437 gross register tons / 400 long tons gross tonnage; ships of different types: coastal passenger ships – 1 (2000 est.).
Airports: 47 (2000 est.).
Airports with paved runways: total: 19; over 3,047 m: 2; from 2438 to 3047 m:5; from 1,524 to 2,437 m: 5; from 914 to 1523 m:3; less than 914 m: 4 (2000 est.).
Airports with unpaved runways: total: 28; from 1,524 to 2,437 m: 2; from 914 to 1523 m:12; less than 914 m: 14 (2000 est.). Helipads: 2 (2000 est.).