In the energy sector, Russian energy giants, Lukoil and Gazprom have made large investments. In … Serbia - Serbia - Economy: In 1945 Yugoslavia adopted a socialist economic system modeled on institutions in the Soviet Union, but, following its break with the Communist Information Bureau (Cominform) in 1948, a system evolved that allowed increasing opportunity for individual enterprise.
Some coal has been developed in the northeast, and the possibility exists for the expansion of mining there.
In recent years, Serbia has received large investments from foreign … Other agricultural regions include Macva, Pomoravlje, Tamnava, Rasina, and Jablanica.In the structure of the agricultural production 70% is from the crop field production, and 30% is from the livestock production.
38% cable television, 17% IPTV, and 10% satellite).
Some of the international brand-names established production in Serbia: PepsiCo and Nestlé in food-processing sector; Coca-Cola (Belgrade), Heineken (Novi Sad) and Carlsberg (Backa Palanka) in beverage industry; Nordzucker in sugar industry. Other important agricultural products are: sunflower, sugar beet, soybean, potato, apple, pork meat, beef, poultry and dairy.There are 56,000 ha of vineyards in Serbia, producing about 230 million litres of wine annually. The economy is dominated by services which accounts for 67.9% of GDP, followed by industry with 26.1% of GDP, and agriculture at 6% of GDP. Serbia’s exports, however, recorded a steady growth in last couple of years reaching $19.2 billion in 2018. Some 58% of households have fixed-line (non-mobile) broadband Internet connection while 67% are provided with pay television services (i.e.
The road network, except for the most of class-IA roads, are of comparatively lower quality to the Western European standards because of lack of financial resources for their maintenance in the last 20 years.Over 300 kilometres of new motorways has been constructed in the last decade and additional 142 kilometres are currently under construction: A5 motorway (from south of Pojate (north of Krusevac to Cacak) and 30 km-long segment of A2 (between Cacak and Pozega).
In 2019, total of over 3.6 million tourists were recorded in accommodations, of which half were foreign. Majority of FDI went into automotive industry, food and beverage industry, machinery, textile and clothing.Blue-chip corporations making investments in manufacturing sector include: Fiat Chrysler Automobiles, Bosch, Michelin, Siemens, Panasonic, Continental, Schneider Electric, Philip Morris, LafargeHolcim, Pepsico, Coca-Cola, Carlsberg and others. In 1993, a monthly inflation rate stood at staggering 313 million percent. Nominal GDP in 2019 is projected to reach $51.523 billion, which is $7,397 per capita, while GDP based on purchasing power parity (PPP) stood at $129.298 billion, which is $18,564 per capita. The entire production of electricity is concentrated in Elektroprivreda Srbije (EPS), public electric-utility power company.The current oil production in Serbia amounts to over 1.1 million tonnes of oil equivalent and satisfies some 43% of country’s needs while the rest is imported. Although still a major mode of freight transportation, railroads face increasing problems with the maintenance of the infrastructure and lowering speeds. Foreign and domestic containment measures weighed heavily on the industrial sector and foreign demand; exports fell by over a quarter in May, while industrial output fell sharply in the same month, albeit at a slower pace than in the prior month. The largest mobile operator is Telekom Srbija with 4.2 million subscribers, followed by Telenor with 2.8 million users and Vip mobile with about 2 million.
For a limited number of products (baby beef, sugar, and wine), annual import quotas remain in effect. At the same time, the country experienced a serious “brain drain”.
Although fewer than one-fourth of economically active Serbs are now employed in farming (compared with nearly three-fourths in 1948), cropland occupies nearly two-thirds of Serbia’s territory.
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