1 has been followed by highly destructive warfare, the
destabilization of republic boundaries, and the breakup of important
interrepublic trade flows. Output in Serbia and Montenegro dropped by
half in 1992-93. Like the other former Yugoslav republics, it had
depended on its sister republics for large amounts of energy and
manufactures. Wide differences in climate, mineral resources, and
levels of technology among the republics accentuated this
interdependence, as did the communist practice of concentrating much
industrial output in a small number of giant plants. The breakup of
many of the trade links, the sharp drop in output as industrial plants
lost suppliers and markets, and the destruction of physical assets in
the fighting all have contributed to the economic difficulties of the
republics. One singular factor in the economic situation of Serbia is
the continuation in office of a communist government that is primarily
interested in political and military mastery, not economic reform.
Hyperinflation ended with the establishment of a new currency unit in
June 1993; prices have been relatively stable since 1995. Reliable
statistics continue to be hard to come by, and the GDP estimate is
extremely rough. The economic boom anticipated by the government after
the suspension of UN sanctions in December 1995 has failed to
materialize. Until the government cooperates on such matters as human
rights and war criminals, it will lack full support from international
financial institutions.

GDP: purchasing power parity-$24.3 billion (1997 est.)

GDP-real growth rate: 7% (1997 est.)

GDP-per capita: purchasing power parity-$2,280 (1997 est.)

GDP-composition by sector:
agriculture: 25%
industry: 50%
services: 25% (1994 est.)

Inflation rate-consumer price index: 7% (1997)

Labor force:
total: 2.178 million
by occupation: industry 41%, services 35%, trade and tourism 12%,
transportation and communication 7%, agriculture 5% (1994)

Unemployment rate: more than 35% (1995 est.)

Budget:
revenues: $NA
expenditures: $NA, including capital expenditures of $NA

Industries: machine building (aircraft, trucks, and automobiles; tanks
and weapons; electrical equipment; agricultural machinery); metallurgy
(steel, aluminum, copper, lead, zinc, chromium, antimony, bismuth,
cadmium); mining (coal, bauxite, nonferrous ore, iron ore, limestone);
consumer goods (textiles, footwear, foodstuffs, appliances);
electronics, petroleum pr