Economy of the Socialist Federal Republic of Yugoslavia information
"Economy of Yugoslavia" redirects here. For the outline of the economy of the Federal Republic of Yugoslavia (1992–2003), see Economy of Serbia and Montenegro.
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Economy of Socialist Yugoslavia
Currency
Yugoslav dinar (YUD)
Fiscal year
1 January – 31 December (calendar year)[1]
Statistics
GDP
$120.1 billion (24th) (1991 est.)[2]
GDP rank
24th (1991)[2]
GDP growth
-6.3% (1991)[3]
GDP per capita
$5,040 (59th) (1991 est., nominal)[4] $3,549 (1990, at current prices)[5]
Inflation (CPI)
164% (7th) (1991 est.)[6]
Labour force
9,600,000 (32nd) (1991 est.)[7]
Unemployment
16% (21st) (1991 est.)[8]
Main industries
metallurgy, machinery and equipment, petroleum, chemicals, textiles, wood processing, food processing, pulp and paper, motor vehicles, building materials[1]
External
Exports
$13.1 billion (39th) (1991 est.)[9]
Imports
$17.6 billion (32nd) (1991 est.)[10]
Gross external debt
$18 billion (36th) (1991 est.)[11]
Public finances
Revenues
$6.4 billion (51st) (1991 est.)[12]
Expenses
$6.4 billion (52nd) (1991 est.)[13]
Economic aid
$3.5 billion (1966-88)[1]
All values, unless otherwise stated, are in US dollars.
The economy of the Socialist Federal Republic of Yugoslavia (SFRY) was a unique system of socialist self-management that operated from the end of World War II until the country's dissolution in the 1990s. The Yugoslav economy was characterized by a combination of market mechanisms and state planning, with a focus on worker self-management and a decentralized approach to decision-making. Despite facing numerous challenges, including political instability and external pressures, the Yugoslav economy achieved significant growth and modernization during its existence, with a particularly strong emphasis on education, health care, and social welfare. However, the system ultimately proved unsustainable in the face of the global economic changes of the 1980s and the political tensions that led to the breakup of Yugoslavia in the 1990s. Despite common origins, the Yugoslav economy was significantly different from the economies of the Soviet Union and other Eastern European socialist states, especially after the Yugoslav-Soviet break-up in 1948.
The occupation and liberation struggle in World War II left Yugoslavia's infrastructure devastated. Even the most developed parts of the country were largely rural, and the little industry of the country was largely damaged or destroyed.
^ abcYugoslavia Economy - 1990. CIA Factbook. 1992. Retrieved June 13, 2010.
^ abGDP/GNP Million 1991. CIA Factbook. 1992. Retrieved June 13, 2010.
^GDP/GNP Growth Rate 1991. CIA Factbook. 1992. Retrieved June 13, 2010.
^Per Capita GDP/GNP 1991. CIA Factbook. 1992. Retrieved June 13, 2010.
^"National Accounts - Analysis of Main Aggregates (AMA)". unstats.un.org.
^Inflation Rate % 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
^Labor Force 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
^Unemployment rate % 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
^Export Million 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
^Imports Million 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
^External Debt Million 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
^Budget Revenues Million 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
^Budget Expenditures Million 1992. CIA Factbook. 1992. Retrieved June 13, 2010.
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