collapse of the Yugoslav federation has been followed by
bloody ethnic warfare, the destabilization of republic boundaries, and
the breakup of important interrepublic trade flows. Serbia and
Montenegro faces major economic problems; output has dropped sharply,
particularly in 1993. First, like the other former Yugoslav republics,
it depended on its sister republics for large amounts of foodstuffs,
energy supplies, and manufactures. Wide varieties in climate, mineral
resources, and levels of technology among the republics accentuate
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 and Montenegro is the continuation in office of a
communist government that is primarily interested in political and
military mastery, not economic reform. A further complication is the
imposition of economic sanctions by the UN.
National product:
GDP - exchange rate conversion - $10 billion (1993 est.)
National product real growth rate:
NA%
National product per capita:
$1,000 (1993 est.)
Inflation rate (consumer prices):
hyperinflation (1993)
Unemployment rate:
more than 60% (1993 est.)
Budget:
revenues:
$NA
expenditures:
$NA, including capital expenditures of $NA
Exports:
$4.4 billion (f.o.b., 1990)
commodities:
machinery and transport equipment 29%, manufactured goods 28.5%,
miscellaneous manufactured articles 13.5%, chemicals 11%, food and
live animals 9%, raw materials 6%, fuels and lubricants 2%, beverages
and tobacco 1%
partners:
prior to the imposition of sanctions by the UN Security Council trade
partners were principally the other former Yugoslav republics; Italy,
Germany, other EC, the FSU countries, East European countries, US
Imports:
$6.4 billion (c.i.f., 1990)
commodities:
machinery and transport equipment 26%, fuels and lubricants 18%,
manufactured goods 16%, chemicals 12.5%, food and live animals 11%,
miscellaneous manufactured items 8%, raw materials, including coking
coal for the steel industry 7%, beverages, tobacco, and edible oils
1.5%
partners:
prior to the imposit