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Gross National Product: Estimated at US$84
1986; US$7,910 per capita, with 1.3 percent growth rate.
Energy and Mining: Country energy deficient;
imported crude oil and natural gas from Soviet Union and
lignite. Coal reserves plentiful, but energy a major
the 1990s. Dependent on imports for iron and nonferrous
Industry: Manufacturing and chemicals
light industry and food processing also important.
heavy industry in postwar period.
Agriculture: Largely collectivized, but with
decentralized, loose restrictions on self-financing, much
emphasis on private-plot production, and no obligatory
Very efficient by East European standards; net exporter of
meat, and meat products.
Foreign Trade: Most important trading partner
Union, but about half of foreign trade with Western
Principal imports fuels, raw materials and semifinished
agricultural and forestry products, light industrial
Principal exports agricultural products, pharmaceuticals,
bauxite, machine tools, and lighting equipment. Balance of
negative in 1986: exports US$9.2 billion; imports US$9.6
Exchange Rate: Exchange rate in July 1989 about
sixtytwo forints per US$1.
Fiscal Year: Calendar year.
Fiscal Policy: Central planning with market
the late 1980s to decentralize economic decision making
broaden scope for private ownership.
Data as of September 1989