Short facts about the economy in Yemen
| Economy -
overview: |
Yemen, one of the poorest countries in
the Arab world, reported strong growth in the mid-1990s with the onset of oil
production, but was harmed by low oil prices in 1998. Yemen has embarked on an
IMF-supported structural adjustment program designed to modernize and streamline
the economy, which has led to foreign debt relief and restructuring. Aided by
higher oil prices in 1999-2000, Yemen worked to maintain tight control over
spending and implement additional components of the IMF program. A high
population growth rate of nearly 3.4% and internal political dissension
complicate the government's task. |
| GDP: |
purchasing power parity - $14.4 billion
(2000 est.) |
| GDP - real
growth rate: |
6% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $820 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 20%
industry: 42%
services: 38%
(1998) |
| Population
below poverty line: |
19% (1992
est.) |
| Household
income or consumption by percentage share: |
lowest 10%: 2.3%
highest 10%: 30.8%
(1992) |
| Inflation
rate (consumer prices): |
10% (2000
est.) |
| Labor force
- by occupation: |
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: |
30% (1995
est.) |
| Budget: |
revenues: $3 billion
expenditures: $3.1 billion, including capital
expenditures of $NA (2001 est.) |
| Industries: |
crude oil production and petroleum
refining; small-scale production of cotton textiles and leather goods; food
processing; handicrafts; small aluminum products factory;
cement |
| Industrial
production growth rate: |
NA% |
| Electricity
- production: |
2.4 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 100%
hydro: 0%
nuclear:
0%
other: 0% (1999) |
| Electricity
- consumption: |
2.232 billion kWh
(1999) |
| Electricity
- exports: |
0 kWh
(1999) |
| Electricity
- imports: |
0 kWh
(1999) |
| Agriculture
- products: |
grain, fruits, vegetables, pulses, qat
(mildly narcotic shrub), coffee, cotton; dairy products, livestock (sheep,
goats, cattle, camels), poultry; fish |
| Exports: |
$4.2 billion (f.o.b., 2000
est.) |
| Exports -
commodities: |
crude oil, coffee, dried and salted
fish |
| Exports -
partners: |
Thailand 34%, China 26%, South Korea
14%, Japan 3% (1999) |
| Imports: |
$2.7 billion (f.o.b., 2000
est.) |
| Imports -
commodities: |
food and live animals, machinery and
equipment |
| Imports -
partners: |
Saudi Arabia 10%, UAE 8%, US 7%, France
7%, Italy 6% (1999) |
| Debt -
external: |
$4.4 billion
(2000) |
| Economic aid
- recipient: |
$176.1 million
(1995) |
| Currency: |
Yemeni rial
(YER) |
| Exchange
rates: |
Yemeni rials per US dollar - 164.590
(October 2000), 160.683 (2000), 155.718 (1999), 135.882 (1998), 129.281 (1997),
94.157 (1996) |
| Fiscal
year: |
calendar year | Source: World Factbook |
