The term for nationalized property in the former German Democratic Republic (GDR) under the control of the Sozialistiche Einheitspartei (SED). Apart from the personal property of its citizens, church property, and the private property of craftsmen and tradespeople, there was only socialist property in the GDR (ie Volkseigentum and co-operative property). In the mid-1980s, 8·1% of the economy was in public ownership, 0·6% in semi-public ownership (in a transitional stage towards Volkseigentum), 14·7% in co-operative ownership (mainly in agriculture), and 4·6% in private ownership (mainly small trade). 98% of industry and transport were nationalized.