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. 1996 Index
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Bosnia and Herzegovina Economy 1996
Bosnia and Herzegovina ranked next to The Former Yugoslav Republic of
Macedonia as the poorest republic in the old Yugoslav federation. Although
agriculture has been almost all in private hands, farms have been small and
inefficient, and the republic traditionally has been a net importer of food.
Industry has been greatly overstaffed, one reflection of the rigidities of
Communist central planning and management. TITO had pushed the development
of military industries in the republic with the result that Bosnia hosted a
large share of Yugoslavia's defense plants. As of February 1995, Bosnia and
Herzegovina was being torn apart by the continued bitter interethnic warfare
that has caused production to plummet, unemployment and inflation to soar,
and human misery to multiply. No economic statistics for 1992-94 are
available, although output clearly has fallen substantially below the levels
of earlier years and almost certainly is well below $1,000 per head. The
country receives substantial amounts of humanitarian aid from the
international community.
GDP - purchasing power parity - $NA
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
$NA, including capital expenditures of $NA
growth rate NA%; production is sharply down because of interethnic and
interrepublic warfare (1991-94)
steel production, mining (coal, iron ore, lead, zinc, manganese, and
bauxite), manufacturing (vehicle assembly, textiles, tobacco products,
wooden furniture, 40% of former Yugoslavia's armaments including tank and
aircraft assembly, domestic appliances), oil refining (1991)
accounted for 9.0% of GDP in 1989; regularly produces less than 50% of food
needs; the foothills of northern Bosnia support orchards, vineyards,
livestock, and some wheat and corn; long winters and heavy precipitation
leach soil fertility reducing agricultural output in the mountains; farms
are mostly privately held, small, and not very productive (1991)
1 dinar = 100 para; Croatian dinar used in Croat-held area, presumably to be
replaced by new Croatian kuna; old and new Serbian dinars used in Serb-held
area; hard currencies probably supplanting local currencies in areas held by
Bosnian government
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