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Economy
Economy - overview: The Former Yugoslav Republic of Macedonia, although the poorest republic in the former Yugoslav federation, can meet basic food and energy needs through its own agricultural and coal resources. The economy slowly rebounded in 1996 after years of recession. Continued recovery depends on Macedonia's ability to redevelop trade ties with Greece and Serbia and Montenegro; as well as on Skopje's continued commitment to economic liberalization. The economy depends on outside sources for all of its oil and gas and most of its modern machinery and parts. An important supplement of GDP is the remittances from thousands of Macedonians working in Germany and other West European nations.
GDP: purchasing power parity - $2 billion (1996 est.)
GDP - real growth rate: 1.1% (1996 est.)
GDP - per capita: purchasing power parity - $960 (1996 est.)
GDP - composition by sector: agriculture: 24% industry: 44% services : 32%
Inflation rate - consumer price index: 5% (1996 est.)
Labor force: total: 591,773 (June 1994) by occupation: manufacturing and mining 40% (1992)
Unemployment rate: 38% (1996 est.); note - many employed workers are, in fact, furloughees