Economy of Serbia is the 84th or 79th largest in the world at $43.866 billion or $95.492 billion by nominal gross domestic product or purchasing power parity respectively. Its economy is mostly based on various services (51.1% of GDP), industry (38.5% of GDP) and agriculture (10.4% of GDP). In the late 1980s, at the beginning of the process of economic transition from a planned economy to a market economy, Serbia's economy had a favorable position, but it was gravely impacted by economic sanctions from 1992 to 1995.