The Kingdom of Serbia in history was founded by the Yugoslavs. After World War I, it became a major part of Yugoslavia. 1992 Serbia and Montenegro formed the Federal Republic of Yugoslavia (later renamed Serbia and Montenegro). On June 3, 2006, Montenegro officially became independent.
Serbia has experienced rapid economic growth in recent years (the economic growth rate reached 6.3% in 2006), so it has been called "the tiger of the Balkans" by some people. Its economy is dominated by service industry, accounting for 63% of the gross national product in 2008. Football is Serbia's favorite team sport.