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    Yugoslavia Economy - 1989

      Overview: Economic problems have bedeviled the country since Tito's death in 1980, when the economic boom of the 1970s, financed largely with foreign loans, came to an end. During the early 1980s the government responded to the urgings of the IMF and Western creditors and approved ambitious economic reform programs that emphasized the role of market forces. However, Yugoslavia has failed to make good on the programs. Inflation and unemployment remain among the highest in Europe. Half of GDP comes from industry and 14% from agriculture, including fisheries and forestry. Socialized enterprise dominates industry, while over 80% of the agricultural land is privately owned.

      GNP: $154.1 billion, per capita $6,540; real growth rate 0.1% (1988)

      Inflation rate (consumer prices): 230% (1988 est.)

      Unemployment rate: 15% (1988)

      Budget: revenues $4.5 billion; expenditures $4.5 billion, including capital expenditures of $NA (1989)

      Exports: $11.4 billion (f.o.b., 1987); @m5commodities--raw materials and semimanufactures 50%, consumer goods 31%, capital goods and equipment 19%; @m5partners--EC 30%, CEMA 45%, less developed countries 14%, US 5%, other 6%

      Imports: $12.6 billion (c.i.f., 1987); @m5commodities--raw materials and semimanufactures 79%, capital goods and equipment 15%, consumer goods 6%; @m5partners--EC 30%, CEMA 45%, less developed countries 14%, US 5%, other 6%

      External debt: $20.5 billion, medium and long term debt (1987)

      Industrial production: growth rate - 1.0% (1988 est.)

      Electricity: 20,000,000 kW capacity; 83,500 million kWh produced, 3,540 kWh per capita (1988)

      Industries: metallurgy, machinery and equipment, petroleum, chemicals, textiles, wood processing, food processing, pulp and paper, motor vehicles, building materials

      Agriculture: diversified with many small private holdings and large combines; main crops--corn, wheat, tobacco, sugar beets, sunflowers; occasionally a net exporter of corn, tobacco, foodstuffs, live animals

      Aid: NA

      Currency: Yugoslav dinar (plural--dinars); 1 Yugoslav dinar (YD) = 100 paras

      Exchange rates: Yugoslav dinars (YD) per US$1--5,557.7 (January 1989), 2,522.6 (1988), 737.0 (1987), 379.2 (1986), 270.2 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Yugoslavia on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Yugoslavia Economy 1989 information contained here. All suggestions for corrections of any errors about Yugoslavia Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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