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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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germandr.4
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1991-04-07
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Economy
Overview: The GDR is moving rapidly away from its centrally
planned economy. As the 1990s begin, economic integration
with West Germany appears inevitable, beginning with the
establishment of a common currency. The opening of the border
with the FRG in late 1989 and the continuing emigration
of hundreds of thousands of skilled workers had brought
growth to a standstill by yearend 1989. Features of the
old economic regime that will quickly change: (a) the
collectivization of 95% of East German farms; (b) state
ownership of nearly all transportation facilities, industrial
plants, foreign trade organizations, and financial institutions;
(c) the 65% share in trade of the USSR and other CEMA countries;
and (d) the detailed control over economic details exercised
by Party and state. Once integrated into the thriving West
German economy, the area will have to stem the outflow of
workers and renovate the obsolescent industrial base. After
an initial readjustment period, living standards and quality
of output will steadily rise toward West German levels.
GNP: $159.5 billion, per capita $9,679; real growth rate 1.2%
(1989 est.).
Inflation rate (consumer prices): NA.
Unemployment rate: NA%.
Budget: revenues $123.5 billion; expenditures $123.2 billion,
including capital expenditures of $33 billion (1986).
Exports: $30.7 billion (f.o.b., 1988); commodities--machinery
and transport equipment 47%, fuels and metals 16%, consumer
goods 16%, chemical products and building materials 13%,
semimanufactured goods and processed foodstuffs 8%; partners--
USSR, Czechoslovakia, Poland, FRG, Hungary, Bulgaria, Switzerland,
Romania.
Imports: $31.0 billion (f.o.b., 1988); commodities--fuels
and metals 40%, machinery and transport equipment 29%, chemical
products and building materials 9%; partners--CEMA countries 65%,
non-Communist 33%, other 2%.
External debt: $20.6 billion (1989).
Industrial production: growth rate 2.7% (1989 est.).
Electricity: (including East Berlin) 24,585,000 kW capacity;
122,500 million kWh produced, 7,390 kWh per capita (1989).
Industries: metal fabrication, chemicals, brown coal, shipbuilding,
machine building, food and beverages, textiles, petroleum.
Agriculture: accounts for about 10% of GNP (including fishing
and forestry); principal crops--wheat, rye, barley, potatoes,
sugar beets, fruit; livestock products include pork, beef,
chicken, milk, hides and skins; net importer of food; fish
catch of 193,600 metric tons in 1987.
Aid: donor--$4.0 billion extended bilaterally to non-Communist
less developed countries (1956-88).
Currency: GDR mark (plural--marks); 1 GDR mark (M) = 100
pfennige.
Exchange rates: GDR marks (M) per US$1--3.01 (1988), 3.00
(1987), 3.30 (1986), 3.70 (1985), 3.64 (1984).
Fiscal year: calendar year.