Serbia contributed 35% to the total industrial production of the former Yugoslav SFR. Between 1989 and 1996, total industrial output fell by 60%. Production declines by sector during that time were as follows: metals and electrical products, 85%; textiles, leather, and rubber products, 75%; wood products, 63%; nonmetals, 56%; and chemicals and paper, 54%. In the mid-1990s, industry accounted for approximately 50% of the country's GDP.
The industrial production growth rate for Yugoslavia in 2000 was 11%, and industry accounted for 36% of GDP in 2001. Principal industries in Serbia and Montenegro include machine building (aircraft, trucks, automobiles, tanks and weapons, electrical equipment, agricultural machinery), metallurgy, textiles, footwear, foodstuffs, appliances, electronics, petroleum products, chemicals, and pharmaceuticals. Serbia produced 8,978 automobiles in 2001, a 30% decline from 2000; it also produced 555 heavy trucks in 2000, a 33% increase over 1999. Under their new, looser federation, the Serbian and Montenegrin economies are distinct, and it remains to be seen how industrial activity will operate under this new union.
