| People | Serbia |
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Economy - overview:
|
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 October 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):
|
$56.89 billion (2007 est.) |
GDP (official exchange rate):
|
$41.44 billion (2007 est.) |
GDP - real growth rate:
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7% (2007 est.) |
GDP - per capita (PPP):
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$7,700 (2007 est.) |
GDP - composition by sector:
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agriculture: 12.3%
industry: 24.2%
services: 63.5% (2007 est.) |
Investment (gross fixed):
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20.1% of GDP (2007 est.) |
Population below poverty line:
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6.5% (2007 est.) |
Household income or consumption by percentage share:
|
void |
Distribution of family income - Gini index:
|
30 (2003) |
Inflation rate (consumer prices):
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10.1% (2007 est.) |
Labor force:
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2.961 million (2002 est.) |
Labor force participation rate:
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29.15 % of population |
Labor force - by occupation:
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agriculture: 30%
industry: 46%
services: 24% (2002) |
Unemployment rate:
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18.8% (2007 est.) |
Budget:
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revenues: $9.6 billion
expenditures: $9.8 billion (2007 est.) |
Budget revenues per capita:
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945 USD per capita |
Public debt:
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37% of GDP (2007 est.) |
Industries:
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sugar, agricultural machinery, electrical and communication equipment, paper and pulp, lead, transportation equipment |
Industrial production growth rate:
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1.8% (2007 est.) |
Electricity - production:
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33.87 billion kWh (2004) |
Electricity - production per capita:
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3,334 kWh per capita |
Electricity - consumption:
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NA kWh |
Electricity - consumption - per capita:
|
void |
Electricity - exports:
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12.05 billion kWh (2004) |
Electricity - imports:
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11.23 billion kWh (2004) |
Oil - production:
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14,660 bbl/day (2003) |
Oil - production per capita:
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1,444 bbl/day per capita |
Oil - consumption:
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85,000 bbl/day (2003 est.) |
Oil - consumption - per capita:
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3.05 bbl/year per capita |
Oil - exports:
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NA bbl/day |
Oil - imports:
|
NA bbl/day |
Oil - proved reserves:
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77.5 million bbl (1 January 2006 est.) |
Natural gas - production:
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650 million cu m (2005 est.) |
Natural gas - production per capita:
|
64 cu m per capita |
Natural gas - consumption:
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2.55 billion cu m (2005 est.) |
Natural gas - consumption - per capita:
|
252 cu m per capita |
Natural gas - exports:
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0 cu m (2005 est.) |
Natural gas - imports:
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2.1 billion cu m (2004 est.) |
Natural gas - proved reserves:
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46.17 billion cu m (1 January 2006) |
Agriculture - products:
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wheat, maize, sugar beets, sunflower, raspberries, beef, pork, milk |
Current account balance:
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-$6.7 billion (2007 est.) |
Current account balance - per capita:
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-659 USD per capita |
Exports:
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$8.824 billion (2007 est.) |
Exports per capita:
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869 USD per capita |
Exports - commodities:
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manufactured goods, food and live animals, machinery and transport equipment |
Exports - partners:
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void |
Imports:
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$18.3 billion (2007 est.) |
Imports per capita:
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1,802 USD per capita |
Imports - commodities:
|
void |
Imports - partners:
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void |
Reserves of foreign exchange and gold:
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$14.22 billion (2007) |
Reserves of foreign exchange and gold - per capita:
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1,400 USD per capita |
Debt - external:
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$26.24 billion (includes debt for Montenegro and Kosovo) (2007 est.) |
Debt - external - per capita:
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2,583 USD per capita |
Stock of direct foreign investment - at home:
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$11.95 billion (2006 est.) |
Stock of direct foreign investment - abroad:
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$NA |
Market value of publicly traded shares:
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$5.409 billion (2005) |
Economic aid - donor:
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void |
Economic aid - recipient:
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$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) |
Economic aid - recipient per capita:
|
197 USD per capita |
Currency (code):
|
Serbian Dinar (RSD) |
Exchange rates:
|
Serbian dinars per US dollar - 54.5 (2007), 59.98 (2006) |
Fiscal year:
|
void |
|
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