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
has been harmed by periodic declines in oil 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 implement additional components of the IMF
program. A high population growth rate and internal political
dissension complicate the government's task.
GDP:
purchasing power parity - $15.07 billion (2002 est.)
GDP - real growth rate:
4.1% (2002 est.)
GDP - per capita:
purchasing power parity - $800 (2002 est.)
GDP - composition by sector:
agriculture: 22%
industry: 38%
services: 40% (2001)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 25.9% (1998)
Distribution of family income - Gini index:
33.4 (1998)
Inflation rate (consumer prices):
12.2% (2002 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:
4% (2002 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 (2001 est.)
Oil - consumption:
74,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Oil - proved reserves:
3.2 billion bbl (37257)
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 (37257)
Agriculture - products:
grain, fruits, vegetables, pulses, qat (mildly narcotic shrub),
coffee, cotton; dairy products, livestock (sheep, goats, cattle,
camels), poultry; fish
Exports:
$3.4 billion f.o.b. (2002 est.)
Exports - commodities:
crude oil, coffee, dried and salted fish
Exports - partners:
India 21.1%, Thailand 16.9%, South Korea 11.2%, China 11.1%,
Malaysia 7.7%, US 6.7%, Singapore 4% (2002)
Imports:
$2.9 billion f.o.b. (2002 est.)
Imports - commodities:
food and live animals, machinery and equipment, chemicals
Imports - partners:
US 10.4%, Saudi Arabia 9.5%, China 8.7%, UAE 6.9%, Russia 5.8%,
France 4.7% (2002)
Debt - external:
$6.2 billion (2002)
Economic aid - recipient:
$2.3 billion to be disbursed 2003-07 (2003-07 disbursements)
Currency:
Yemeni rial (YER)
Currency code:
YER
Exchange rates:
Yemeni rials per US dollar - NA (2002), 168.67 (2001), 161.72
(2000), 155.72 (1999), 135.88 (1998)
Fiscal year:
calendar year