| Economy | Yemen |
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Economy - overview:
|
Yemen is a low income country that is highly dependent on declining oil resources for revenue. Petroleum accounts for roughly 25% of GDP and 70% of government revenue. Yemen has tried to counter the effects of its declining oil resources by diversifying its economy through an economic reform program initiated in 2006 that is designed to bolster non-oil sectors of the economy and foreign investment. In October 2009, Yemen exported its first liquefied natural gas as part of this diversification effort. In January 2010, the international community established the Friends of Yemen group that aims to support Yemen's efforts toward economic and political reform, and in August 2010 the IMF approved a three-year $370 million program to further this effort. Despite these ambitious endeavors, Yemen continues to face difficult long term challenges, including declining water resources and a high population growth rate. |
GDP (purchasing power parity):
|
$63.24 billion (2011 est.)
$64.87 billion (2010 est.)
$60.08 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$2,500 (2011 est.)
$2,700 (2010 est.)
$2,500 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$36.7 billion (2011 est.) |
GDP - real growth rate:
|
-2.5% (2011 est.)
8% (2010 est.)
3.9% (2009 est.) |
GDP - composition by sector:
|
agriculture: 8.3%
industry: 41.6%
services: 50.1% (2011 est.) |
Investment (gross fixed):
|
18.7% of GDP (2011 est.) |
Population below poverty line:
|
45.2% (2003) |
Household income or consumption by percentage share:
|
lowest 10%: 2.9%
highest 10%: 30.8% (2005) |
Distribution of family income - Gini index:
|
37.7 (2005)
33.4 (1998) |
Inflation rate (consumer prices):
|
20% (2011 est.)
11.2% (2010 est.) |
Central bank discount rate:
|
NA% |
Commercial bank prime lending rate:
|
27% (31 December 2011 est.)
25% (31 December 2010 est.) |
Stock of money:
|
$3.489 billion (31 October 2009)
$3.399 billion (31 December 2008) |
Stock of money - per capita:
|
145 USD per capita |
Stock of quasi money:
|
$6.077 billion (31 October 2009)
$5.985 billion (31 December 2008) |
Stock of quasi money - per capita:
|
252 USD per capita |
Stock of domestic credit:
|
$6.637 billion (31 December 2011 est.)
$6.183 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
276 USD per capita |
Stock of narrow money:
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$3.599 billion (31 December 2011 est.)
$3.679 billion (31 December 2010 est.) |
Stock of broad money:
|
$9.502 billion (31 December 2011 est.)
$10.13 billion (31 December 2010 est.) |
Labor force:
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7.03 million (2011 est.) |
Labor force participation rate:
|
29.13 % of population |
Labor force - by occupation:
|
note: 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.) |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $5.507 billion
expenditures: $9.003 billion (2011 est.) |
Budget revenues per capita:
|
229 USD per capita |
Taxes and other revenues:
|
15% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-9.5% of GDP (2011 est.) |
Public debt:
|
37.2% of GDP (2011 est.)
30.8% of GDP (2010 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; commercial ship repair; natural gas production |
Industrial production growth rate:
|
9% (2010 est.) |
Electricity - production:
|
6.153 billion kWh (2008 est.) |
Electricity - production per capita:
|
255 kWh per capita |
Electricity - consumption:
|
4.646 billion kWh (2008 est.) |
Electricity - consumption - per capita:
|
193 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
258,800 bbl/day (2010 est.) |
Oil - production per capita:
|
10,724 bbl/day per capita |
Oil - consumption:
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157,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
2.37 bbl/year per capita |
Oil - exports:
|
207,700 bbl/day (2009 est.) |
Oil - imports:
|
64,610 bbl/day (2009 est.) |
Oil - proved reserves:
|
3 billion bbl (1 January 2011 est.) |
Natural gas - production:
|
520 million cu m (2009 est.) |
Natural gas - production per capita:
|
22 cu m per capita |
Natural gas - consumption:
|
100 million cu m (2009 est.) |
Natural gas - consumption - per capita:
|
5 cu m per capita |
Natural gas - exports:
|
420 million cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
478.5 billion cu m (1 January 2011 est.) |
Agriculture - products:
|
grain, fruits, vegetables, pulses, qat, coffee, cotton; dairy products, livestock (sheep, goats, cattle, camels), poultry; fish |
Current account balance:
|
-$3.12 billion (2011 est.)
-$1.209 billion (2010 est.) |
Current account balance - per capita:
|
-129 USD per capita |
Exports:
|
$7.127 billion (2011 est.)
$7.718 billion (2010 est.) |
Exports per capita:
|
296 USD per capita |
Exports - commodities:
|
crude oil, coffee, dried and salted fish, liquefied natural gas |
Exports - partners:
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China 34.4%, India 23%, Thailand 6.6%, South Africa 5.7%, Japan 5.3%, UAE 4.8% (2010) |
Imports:
|
$9.183 billion (2011 est.)
$8.701 billion (2010 est.) |
Imports per capita:
|
381 USD per capita |
Imports - commodities:
|
food and live animals, machinery and equipment, chemicals |
Imports - partners:
|
UAE 13.5%, China 12.2%, India 8.9%, Saudi Arabia 6.4%, Kuwait 4.7%, France 4.3%, Brazil 4.1% (2010) |
Reserves of foreign exchange and gold:
|
$4.311 billion (31 December 2011 est.)
$5.942 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
179 USD per capita |
Debt - external:
|
$6.636 billion (31 December 2011 est.)
$6.586 billion (31 December 2010 est.) |
Debt - external - per capita:
|
275 USD per capita |
Stock of direct foreign investment - at home:
|
$NA |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Yemeni rial (YER) |
Exchange rates:
|
Yemeni rials (YER) per US dollar -
229.8 (2011 est.)
219.59 (2010 est.)
202.85 (2009)
199.76 (2008)
199.14 (2007) |
Fiscal year:
|
calendar year |
|
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