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Yemen Economy 2016
http://www.theodora.com/wfbcurrent/yemen/yemen_economy.html
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


















Yemen Economy 2016
SOURCE: 2016 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 23, 2014

Economy - overview:
Yemen is a low income country that is highly dependent on declining oil resources for revenue. Petroleum accounts for roughly 25% of GDP and 63% of government revenue. Yemen has tried to counter the effects of its declining oil resources and continuing attacks on its oil pipelines by diversifying its economy through an economic reform program initiated in 2006 that is designed to bolster non-oil sectors of the economy and foreign investment. In October 2009, Yemen exported its first liquefied natural gas as part of this diversification effort. In January 2010, the international community established the Friends of Yemen group that aims to support Yemen's efforts toward economic and political reform. In 2012, the Friends of Yemen pledged nearly $7 billion in assistance to Yemen. The Yemeni Government also endorsed a Mutual Accountability Framework to facilitate the efficient implementation of donor aid. The unrest that began in early 2011 caused GDP to plunge almost 11% in 2011. Availability of basic services, including electricity, water, and fuel, has improved since the transition, but progress toward achieving more sustainable economic stability has been slow and uneven. Yemen continues to face difficult long-term challenges, including declining water resources, high unemployment, severe food scarcity, and a high population growth rate.

GDP (purchasing power parity):
$61.63 billion (2013 est.)
country comparison to the world: 89

$58.45 billion (2012 est.)
$57.36 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$43.89 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.8% (2013 est.)
country comparison to the world: 86

0.1% (2012 est.)
-10.5% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$2,500 (2013 est.)
country comparison to the world: 187

$2,500 (2012 est.)
$2,500 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
4.2% of GDP (2013 est.)
country comparison to the world: 147

9.6% of GDP (2012 est.)
6.3% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 80.3%
government consumption: 12.5%
investment in fixed capital: 18.4%
investment in inventories: -4%
exports of goods and services: 17.8%
imports of goods and services: -24.9%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 7.7%
industry: 30.9%
services: 61.4% (2013 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, leather goods; food processing; handicrafts; aluminum products; cement; commercial ship repair; natural gas production

Industrial production growth rate:
4.8% (2013 est.)
country comparison to the world: 60
[see also: Industrial production growth rate country ranks ]

Labor force:
7.1 million (2013 est.)
country comparison to the world: 63
[see also: Labor force country ranks ]

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.)
country comparison to the world: 188
[see also: Unemployment rate country ranks ]

Population below poverty line:
45.2% (2003)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 30.8% (2005)

Distribution of family income - Gini index:
37.7 (2005)
country comparison to the world: 74

33.4 (1998)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $7.769 billion
expenditures: $12.31 billion (2013 est.)

Taxes and other revenues:
17.7% of GDP (2013 est.)
country comparison to the world: 176
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-10.3% of GDP (2013 est.)
country comparison to the world: 206
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
47.1% of GDP (2013 est.)
country comparison to the world: 73

45.4% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
11.8% (2013 est.)
country comparison to the world: 213

9.9% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA%
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
22% (31 December 2013 est.)
country comparison to the world: 12

23% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$5.753 billion (31 December 2013 est.)
country comparison to the world: 96

$5.142 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$14.2 billion (31 December 2013 est.)
country comparison to the world: 93

$12.35 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$11.2 billion (31 December 2013 est.)
country comparison to the world: 93

$9.576 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$3.312 billion (2013 est.)
country comparison to the world: 161

-$985 million (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$6.694 billion (2013 est.)
country comparison to the world: 105

$7.57 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
crude oil, coffee, dried and salted fish, liquefied natural gas

Exports - partners:
China 41%, Thailand 19.2%, India 11.4%, South Korea 4.4% (2013 est.)

Imports:
$10.97 billion (2013 est.)
country comparison to the world: 96

$12.49 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
food and live animals, machinery and equipment, chemicals

Imports - partners:
EU 48.8%, UAE 9.8%, Switzerland 8.8%, China 7.4%, India 5.8% (2013 est.)

Reserves of foreign exchange and gold:
$5.538 billion (31 December 2013 est.)
country comparison to the world: 92

$6.158 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$7.806 billion (31 December 2013 est.)
country comparison to the world: 106

$7.419 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
Yemeni rials (YER) per US dollar -

214.9 (2013 est.)
214.35 (2012 est.)
219.59 (2010 est.)
202.85 (2009)
199.76 (2008)


NOTE: The information regarding Yemen on this page is re-published from the 2016 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Yemen Economy 2016 information contained here. All suggestions for corrections of any errors about Yemen Economy 2016 should be addressed to the CIA.




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