Economy Of Yemen - Yemen Information

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Economy Of Yemen
Yemen Information - Country Guides

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. It has been harmed by periodic declines in oil prices, but now benefits from current high prices. Yemen has embarked on an IMF-supported structural adjustment program designed to modernize and streamline the economy, which has led to substantial foreign debt relief and restructuring. International donors, meeting in Paris in October 2002, agreed on a further $2.3 billion economic support package. Yemen has worked to maintain tight control over spending and to implement additional components of the IMF program. A markedly high population growth rate and internal political dissension complicate the government's task. Plans include a diversification of the economy, encouragement of tourism, and more efficient use of scarce water resources.
GDP	purchasing power parity - $15.09 billion (2004 est.)
GDP - real growth rate	2.8% (2004 est.)
GDP - per capita	purchasing power parity - $800 (2004 est.)
GDP - composition by sector	agriculture: 15.2% industry: 45% services: 39.7% (2004 est.)
Investment gross fixed	29.1% of GDP (2004 est.)
Population below poverty line	15.7% (2004)
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	10.8% (2004 est.)
Labor force	5.79 million (2004 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	35% (2003 est.)
Budget	revenues: $3.729 billion expenditures: $4.107 billion, including capital expenditures of na (2004 est.)
Public debt	39.5% of GDP (2004 est.)
Agriculture products	grain, fruits, vegetables, pulses, qat (mildly narcotic shrub), 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
Industrial production growth rate	3% (2003 est.)
Electricity production	3.01 billion kWh (2001)
Electricity production by source	fossil fuel: 100% hydro: 0% other: 0% (2001) nuclear: 0%
Electricity consumption	2.8 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	438,500 bbl/day (2004 est.)
Oil consumption	74,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	3.2 billion bbl (2004)
Natural gas production	0 cu m (2001 est.)
Natural gas consumption	0 cu m (2001 est.)
Natural gas exports	0 cu m (2001 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	480 billion cu m (2004)
Current account balance	$157 million (2004 est.)
Exports	$3.92 billion f.o.b. (2004 est.)
Exports commodities	crude oil, coffee, dried and salted fish
Exports partners	China 31.7%, Thailand 20.3%, India 15.6%, South Korea 4.9%, Malaysia 4.3% (2003)
Imports	$3.042 billion f.o.b. (2003 est.)
Imports commodities	food and live animals, machinery and equipment, chemicals
Imports partners	UAE 12.9%, Saudi Arabia 10.2%, China 8.9%, US 4.9%, Kuwait 4.4%, France 4.1% (2003)
Reserves of foreign exchange gold	$5.009 billion (2004 est.)
Debt external	$6.044 billion (2004 est.)
Economic aid recipient	$2.3 billion (2003-07 disbursements)
Currency	Yemeni rial (YER)
Currency code	YER
Exchange rates	Yemeni rials per US dollar - NA (2003), 175.625 (2002), 168.672 (2001), 161.718 (2000), 155.718 (1999)
Fiscal year	calendar year

Yemeni Flag Map Of Yemen Soqotri language

Economy Of YemenYemen Information - Country Guides

Economy Of Yemen
Yemen Information - Country Guides