Serbia:
Economy

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Other pages in this profile of Serbia:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition MILOSEVIC-era mismanagement of the economy, an extended period of economic sanctions, and the damage to Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav President MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS) coalition government implemented stabilization measures and embarked on a market reform program. After renewing its membership in the IMF in December 2000, a down-sized Yugoslavia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). A World Bank-European Commission sponsored Donors' Conference held in June 2001 raised $1.3 billion for economic restructuring. In November 2001, the Paris Club agreed to reschedule the country's $4.5 billion public debt and wrote off 66% of the debt. In July 2004, the London Club of private creditors forgave $1.7 billion of debt just over half the total owed. Belgrade has made only minimal progress in restructuring and privatizing its holdings in major sectors of the economy, including energy and telecommunications. It has made halting progress towards EU membership and is currently pursuing a Stabilization and Association Agreement with Brussels. Serbia is also pursuing membership in the World Trade Organization. Unemployment remains an ongoing political and economic problem.
GDP (purchasing power parity)	Definition - World rank and map $77.28 billion (2007 est.)
GDP (official exchange rate)	Definition $41.68 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 7.3% (2007 est.)
GDP - per capita	Definition - World rank and map $10,400 (2007 est.)
GDP - composition by sector	Definition agriculture: 12.3% industry: 24.2% services: 63.5% (2007 est.)
Labor force	Definition 2.961 million (2002 est.)
Labor force - by occupation	Definition agriculture: 30% industry: 46% services: 24% (2002)
Unemployment rate	Definition - World rank and map 18.8% (2007 est.)
Population below poverty line	Definition 6.5% (2007 est.)
Distribution of family income - Gini index	Definition - World rank and map 30 (2003)
Inflation rate (consumer prices)	Definition - World rank and map 6.8% (2007)
Investment (gross fixed)	Definition - World rank and map 20.1% of GDP (2007 est.)
Budget	Definition revenues: $9.6 billion expenditures: $9.8 billion (2007 est.)
Public debt	Definition - World rank and map 37% of GDP (2007 est.)
Agriculture - products	Definition wheat, maize, sugar beets, sunflower, raspberries, beef, pork, milk
Industries	Definition sugar, agricultural machinery, electrical and communication equipment, paper and pulp, lead, transportation equipment
Industrial production growth rate	Definition - World rank and map 1.8% (2007 est.)
Electricity - production	Definition - World rank and map 33.87 billion kWh (2004)
Electricity - consumption	Definition - World rank and map NA kWh
Electricity - exports	Definition 12.05 billion kWh (2004)
Electricity - imports	Definition 11.23 billion kWh (2004)
Oil - production	Definition - World rank and map 14,660 bbl/day (2003)
Oil - consumption	Definition - World rank and map 85,000 bbl/day (2003 est.)
Oil - exports	Definition - World rank and map NA bbl/day
Oil - imports	Definition - World rank and map NA bbl/day
Oil - proved reserves	Definition - World rank and map 77.5 million bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 650 million cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 2.55 billion cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 2.1 billion cu m (2004 est.)
Natural gas - proved reserves	Definition - World rank and map 46.17 billion cu m (1 January 2006)
Current account balance	Definition - World rank and map -$6.889 billion (2007 est.)
Exports	Definition - World rank and map $8.824 billion (2007 est.)
Exports - commodities	Definition manufactured goods, food and live animals, machinery and transport equipment
Imports	Definition - World rank and map $18.35 billion (2007 est.)
Reserves of foreign exchange and gold	Definition - World rank and map $14.22 billion (2007 est.)
Debt - external	Definition - World rank and map $26.24 billion (includes debt for Montenegro and Kosovo) (2007 est.)
Stock of direct foreign investment - at home	Definition $11.95 billion (2006 est.)
Stock of direct foreign investment - abroad	Definition $NA
Market value of publicly traded shares	Definition $5.409 billion (2005)
Economic aid - recipient	Definition $2 billion pledged in 2001 to Serbia and Montenegro (disbursements to follow over several years; some aid pledged by EU and US has been placed on hold because of lack of cooperation by Serbia in handing over General Ratko MLADIC to the criminal court in The Hague)
Currency (code)	Definition Serbian dinar (RSD)
Exchange rates	Definition Serbian dinars per US dollar - 54.5 (2007), 59.98 (2006)

Serbia: Economy

Serbia:
Economy