THE PULP AND PAPER INDUSTRY, 1965—1969 (IN YUGOSLAVIA)
THE PULP AND PAPER INDUSTRY, 1965—1969 (IN YUGOSLAVIA)

Summary/Abstract: The development of the pulp and paper industry was very intensive before 1965, but suffered a sudden slowdown from 1965—1969. The average annual growth rate of production decreased from about 14 per cent in 1957—1961 and close on 28 per cent in 1962—1965, to a mere 8 per cent in the 1965—1969 period, with the growth rate of consumption decreasing almost in the same ratio. There were even greater changes in financial effects. In 1964, the pulp and paper industry had one of the highest rates of capital formation of all branches of industry, but as early as 1965 its business effect began to decline and in subsequent years the whole branch found itself in a very difficult situation with many large enterprises operating at a loss. This recession was primarily due to a slowdown in general economic growth and the resulting relative decrease in paper consumption, and also to the very high increase recorded by the industry in the preceding period, which has been taken here as a basis for comparison.

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