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Yemen Economy:
Yemen, one of the poorest countries in the Arab world, has reported strong growth since 2000, but its economic fortunes depend mostly on oil. 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. Yemen has worked to maintain tight control over spending and to implement additional components of the IMF program, but a 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):
$16.25 billion (2004 est.)
GDP — real growth rate:
1.9% (2004 est.)
GDP — per capita:
purchasing power parity: $800 (2004 est.)
GDP — composition by sector:
agriculture: 15.5%
industry: 44.7%
services: 39.7%
(2001)
Labor force:
5.98 million (2004 est.)
Labor force — by occupation:
NA
Unemployment rate:
35% (2003 est.)
Population below poverty line:
45.2% (2003 est.)
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 25.9% (2003)
Distribution of family income — Gini index:
33.4 (1998 est.)
Inflation rate (consumer prices):
12.2% (2004 est.)
Investment (gross fixed):
16.1% of GDP (2004 est.)
Budget:
revenues: $4.25 billion (2004 est.)
expenditures: $4.57 billion including capital expenditures of NA (2004 est.)
Public debt:
46.4% 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; commercial ship repair
Industrial production growth rate:
3% (2003 est.)
Electricity — production:
3.04 billion kWh (2002 est.)
Electricity — consumption:
2.83 billion kWh (2002 est.)
Electricity — exports:
0 kWh (2002 est.)
Electricity — imports:
0 kWh (2002 est.)
Oil — production:
417,500 bbl/day (2004 est.)
Oil — consumption:
78,000 bbl/day (2003 est.)
Oil — exports:
370,300 bbl/day (2003 est.)
Oil — imports:
NA
Oil — proved reserves:
4 billion bbl (2004 est.)
Natural gas — production:
0 cu m (2003 est.)
Natural gas — consumption:
0 cu m (2003 est.)
Natural gas — exports:
0 cu m (2003 est.)
Natural gas — imports:
0 cu m (2003 est.)
Natural gas — proved reserves:
480 billion cu m (2004 est.)
Current account balance:
$369.9 million (2004 est.)
Exports:
$4.47 billion (f.o.b. 2004 est.)
Exports — commodities:
crude oil, coffee, dried and salted fish
Exports — partners:
Thailand 33.8%, China 30.3%, Singapore 7.8% (2001)
Imports:
$3.73 billion (f.o.b. 2004 est.)
Imports — commodities:
food and live animals, machinery and equipment, chemicals
Imports — partners:
UAE 12.2%, Saudi Arabia 9.7%, China 8.8%, France 7.3%, India 4.4%, US 4.4%, Kuwait 4.2% (2004)
Reserves of foreign exchange and gold:
$5.3 billion (2004 est.)
Debt — external:
$5.4 billion (2004 est.)
Economic aid — recipient:
$2.3 billion (2003-07 est.)
Currency:
Yemeni rial (YER)
Exchange rates:
Yemeni rials per US$: 184.78 (2004 est.), 183.45 (2003 est.), 175.63 (2002 est.), 168.67 (2001 est.), 161.72 (2000 est.)
Fiscal year:
calendar year
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