Gross National Product: Estimated US$1637 billion in
1984; US$9,800 GNP per capita, with 3 percent growth rate.
Economy centrally planned and controlled by communist party.
Energy and Mining: Country energy deficient; relies on
imported crude oil and natural gas from Soviet Union and domestic
lignite. Energy probable major problem for 1990s. Dependent on
imports for iron and nonferrous ores.
Industry: Manufacturing industries dominate. Machinery
important; also chemicals, electronics, metallurgy, textiles, and
Agriculture: System largely collectivized. Efficient
but must import grain, vegetables, vegetable oil, and livestock.
Foreign Trade: Major trade partners other communist
countries. Major exports machinery, optics, and electronics.
Major imports crude oil, agricultural products, metals and metal
products, and consumer goods.
Balance of trade positive in 1984: exports US$25.2
billion; imports were US$22.9 billion.
Exchange Rate: About 205 GDR marks per US$1 in March
Fiscal Year: Calendar year
Fiscal Policy: Central planning; state almost exclusive
owner of means of production.
Data as of July 1987