; 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
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 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
in 1992. Hyperinflation ended with the establishment of a new currency
unit in June 1993; prices were relatively stable in 1994. Reliable
statistics are hard to come by; the GDP estimate of $1,000 per capita
in 1994 is extremely rough. Output in 1994 seems to have leveled off
after the plunge in 1993.

National product: GDP - purchasing power parity - $10 billion (1994
est.)

National product real growth rate: NA%

National product per capita: $1,000 (1994 est.)

Inflation rate (consumer prices): 20% (January-November 1994 est.)

Unemployment rate: more than 40% (1994 est.)

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

Exports: $NA
commodities: prior to the breakup of the federation, Yugoslavia
exported machinery and transport equipment, manufactured goods,
chemicals, food and live animals, raw materials
partners: prior to the imposition of UN sanctions trade partners were
the other former Yugoslav republics, Italy, Germany, other EC, the FSU
countries, East European countries, US

Imports: $NA
commodities: prior to the breakup of the federation, Yugoslavia
imported machinery and transport equipment, fuels and lubricants,
manufactured goods, chemicals, food and live animals, raw materials
including coking coal for the steel industry
partners: prior to the imposition of UN sanctions trade partners were
the other former Yugoslav republics, the FSU countries, EC countries
(mainly Italy and Ge