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Yugoslavia: The Third World
Country Study > Chapter 3 > The Economy > Foreign Trade > Trading Partners > The Third World

THE THIRD WORLD


As a founding member of the Nonaligned Movement, Yugoslavia established and maintained commercial relations with a large number of Third World countries. But trade with the underdeveloped countries never approached the level of trade with Western Europe or the Soviet Union. In 1987 total trade volume with Iraq, Yugoslavia's largest Third World partner, was about one-sixth that with the Soviet Union, and onefifth that with West Germany. Between 1979 and 1987 both imports from and exports to Third-World countries declined slightly as a proportion of the respective Yugoslav totals.

In the 1980s, two factors increasingly defined Yugoslavia's trade policy with the Third World: the need for hard currency and the need to limit dependency on Soviet oil by keeping other channels open. Both considerations encouraged commercial activity with oil-rich countries such as Iraq, Iran, Libya, Algeria, Angola, and Indonesia. Because those countries also sold oil to the West, they were able to pay their Yugoslav partners in hard currency.

In the 1980s, Yugoslav energy and machine building industries were especially active in start-to-finish construction of electrical power plants and hydroelectric stations, power transmission lines, irrigation systems, and other major construction projects in selected Third-World countries. Two firms, Energoinvest of Sarajevo and Energoproekt of Belgrade, represented groups of Yugoslav enterprises that acted as contractors in such cases. In 1988 Yugoslav construction services abroad were valued at $US1.4 billion. In 1990 Yugoslav fuel industries were active in joint oil and natural gas exploration in Syria, Tunisia, Libya, Angola, and Algeria.

Yugoslav consumer goods, most notably consumer electronics from the Nis Electronics Industry, vehicles from the Red Banner auto plants, and footwear, also went to Third-World markets. Major customers were India, Egypt, Iran, and Iraq.

Data as of December 1990




Last Updated: December 1990


Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Yugoslavia was first published in 1990. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.

Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on Factba.se.

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