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Yemen:
Economy

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Yemen Page


Economy - overview
 Yemen, one of the poorest countries in the Arab world, reported average annual growth of 3.5% from 2000 through 2006. Its economic fortunes depend mostly on oil. Oil revenues probably increased in 2006 as a result of higher prices. Yemen was on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which led to substantial foreign debt relief and restructuring. However, government dedication to the program waned in 2001 for political reasons. Yemen is struggling to control excessive spending and rampant corruption. Yemen is dependent on foreign aid to finance its budget deficits and development projects. In November, Yemen secured $4.7 billion in assistance from Arabian Gulf and Western donors.
GDP (purchasing power parity)
 $20.46 billion (2006 est.)
GDP (official exchange rate)
 $15.07 billion (2006 est.)
GDP - real growth rate
 2.6% (2006 est.)
GDP - per capita
 $1,000 (2006 est.)
GDP - composition by sector
 agriculture: 12.4%
industry: 42.2%
services: 45.4% (2006 est.)
Labor force
 5.972 million (2006 est.)
Labor force - by occupation
 note: most people are employed in agriculture and herding; services, construction, industry, and commerce account for less than one-fourth of the labor force
Unemployment rate
 35% (2003 est.)
Population below poverty line
 45.2% (2003)
Household income or consumption by percentage share
 lowest 10%: 3%
highest 10%: 25.9% (2003)
Distribution of family income - Gini index
 33.4 (1998)
Inflation rate (consumer prices)
 20.8% (2006 est.)
Investment (gross fixed)
 17.4% of GDP (2006 est.)
Budget
 revenues: $7.363 billion
expenditures: $7.199 billion (2006 est.)
Public debt
 29.2% of GDP (2006 est.)
Agriculture - products
 grain, fruits, vegetables, pulses, qat, coffee, cotton; dairy products, livestock (sheep, goats, cattle, camels), poultry; fish
Industries
 crude oil production and petroleum refining; small-scale production of cotton textiles and leather goods; food processing; handicrafts; small aluminum products factory; cement; commercial ship repair
Electricity - production
 4.456 billion kWh (2005 est.)
Electricity - consumption
 3.381 billion kWh (2005 est.)
Electricity - exports
 0 kWh (2005)
Electricity - imports
 0 kWh (2005)
Oil - production
 387,500 bbl/day (2005 est.)
Oil - consumption
 85,000 bbl/day (2004 est.)
Oil - exports
 320,600 bbl/day (2004)
Oil - imports
 NA bbl/day
Oil - proved reserves
 3.72 billion bbl (1 January 2006)
Natural Gas - production
 0 cu m (2005 est.)
Natural Gas - consumption
 0 cu m (2005 est.)
Natural Gas - exports
 0 cu m (2005 est.)
Natural Gas - imports
 0 cu m (2005)
Natural Gas - proved reserves
 459 billion cu m (1 January 2006 est.)
Current account balance
 $1.836 billion (2006 est.)
Exports
 $7.285 billion f.o.b. (2006 est.)
Exports - commodities
 crude oil, coffee, dried and salted fish
Exports - partners
 China 31.4%, India 17.4%, Thailand 16.7%, South Korea 7%, US 6.7%, UAE 4.1% (2006)
Imports
 $4.69 billion f.o.b. (2006 est.)
Imports - commodities
 food and live animals, machinery and equipment, chemicals
Imports - partners
 UAE 16.4%, China 12.8%, Saudi Arabia 7.7%, Kuwait 5.8%, Brazil 4.5%, Malaysia 4.2%, US 4% (2006)
Reserves of foreign exchange and gold
 $7.545 billion (2006 est.)
Debt - external
 $5.494 billion (2006 est.)
Economic aid - recipient
 $2.3 billion (2003-07 disbursements)
Currency (code)
 Yemeni rial (YER)
Exchange rates
 Yemeni rials per US dollar - 197.18 (2006), 192.67 (2005), 184.78 (2004), 183.45 (2003), 175.63 (2002)
Fiscal year
 calendar year


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