NA

International organization participation:

BSEC, CE, CEI, EAPC, EBRD, FAO, G-9, IAEA, IBRD, ICAO, ICC, ICCt,
ICRM, IDA, IFAD (suspended), IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO,
Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MONUC, NAM
(observer), OAS (observer), OIF (observer), OPCW, OSCE, PCA, PFP,
SECI, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMIL, UNOCI, UNWTO, UPU,
WCL, WCO, WFTU, WHO, WIPO, WMO, WTO (observer)

Diplomatic representation in the US:

chief of mission: Ambassador Ivan VUJACIC chancery: 2134 Kalorama Road NW, Washington, DC 20008 telephone: (202) 332-0333 FAX: (202) 332-3933 consulate(s) general: Chicago, New York

Diplomatic representation from the US:

chief of mission: Ambassador Cameron MUNTER embassy: Kneza Milosa 50, 11000 Belgrade mailing address: 5070 Belgrade Place, Washington, DC 20521-5070 telephone: (11) 361-9344 FAX: (11) 361-8230

Flag description:

three equal horizontal stripes of red (top), blue, and white; charged with the coat of arms of Serbia shifted slightly to the hoist side

Economy
Serbia

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 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):

$77.28 billion (2007 est.)

GDP (official exchange rate):

$41.68 billion (2007 est.)

GDP - real growth rate:

7.3% (2007 est.)

GDP - per capita (PPP):

$10,400 (2007 est.)

GDP - composition by sector:

agriculture: 12.3% industry: 24.2% services: 63.5% (2007 est.)

Labor force:

2.961 million (2002 est.)

Labor force - by occupation:

agriculture: 30% industry: 46% services: 24% (2002)

Unemployment rate:

18.8% (2007 est.)

Population below poverty line:

6.5% (2007 est.)

Distribution of family income - Gini index:

30 (2003)

Investment (gross fixed):

20.1% of GDP (2007 est.)

Budget:

revenues: $9.6 billion expenditures: $9.8 billion (2007 est.)

Public debt:

37% of GDP (2007 est.)

Inflation rate (consumer prices):

6.8% (2007)

Central bank discount rate:

9.57% (31 December 2007)

Commercial bank prime lending rate:

11.13% (31 December 2007)

Stock of money:

$4.632 billion (31 December 2007)

Stock of quasi money:

$12.19 billion (31 December 2007)

Stock of domestic credit:

$13.44 billion (31 December 2007)

Agriculture - products:

wheat, maize, sugar beets, sunflower, raspberries, beef, pork, milk

Industries:

sugar, agricultural machinery, electrical and communication equipment, paper and pulp, lead, transportation equipment

Industrial production growth rate:

1.8% (2007 est.)

Electricity - production:

33.87 billion kWh (2004)

Electricity - consumption:

NA kWh

Electricity - exports:

12.05 billion kWh (2004 est.)

Electricity - imports:

11.23 billion kWh (2004)

Oil - production:

11,410 bbl/day (2007 est.)

Oil - consumption:

85,000 bbl/day (2003 est.)

Oil - exports:

NA bbl/day

Oil - imports:

NA bbl/day

Oil - proved reserves:

77.5 million bbl (1 January 2008 est.)

Natural gas - production:

650 million cu m (2005 est.)

Natural gas - consumption:

2.55 billion cu m (2005 est.)

Natural gas - exports:

0 cu m (2005 est.)

Natural gas - imports:

2.1 billion cu m (2004 est.)

Natural gas - proved reserves:

48.14 billion cu m (1 January 2008 est.)

Current account balance:

-$6.889 billion (2007 est.)

Exports:

$8.824 billion (2007 est.)

Exports - commodities:

manufactured goods, food and live animals, machinery and transport equipment

Imports:

$18.35 billion (2007 est.)

Economic aid - recipient:

$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)

Reserves of foreign exchange and gold:

$14.22 billion (2007 est.)

Debt - external:

$26.24 billion (includes debt for Montenegro and Kosovo) (2007 est.)

Stock of direct foreign investment - at home:

$11.95 billion (2006 est.)

Stock of direct foreign investment - abroad: