Yemen Economy 2001

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: NA

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)

Currency code: 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

NOTE: The information regarding Yemen on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Yemen Economy 2001 information contained here. All suggestions for corrections of any errors about Yemen Economy 2001 should be addressed to the CIA.