Yemen - Economy
How is the economy of Yemen? Based on the information we have, Yemen has a low-income Middle Eastern economy; infrastructure, trade, and economic institutions devastated by civil war; oil/gas-dependent but decreasing reserves; massive poverty, food insecurity, and unemployment; high inflation. Key agricultural products in this country include: mangoes/guavas, potatoes, onions, milk, sorghum, spices, watermelons, chicken, tomatoes, grapes (2022).
More about the economy of Yemen
| Labor force | 6.883 million (2023 est.) |
|---|---|
| Industrial production growth rate | -1.12% (2018 est.) |
| Industries | crude oil production and petroleum refining; small-scale production of cotton textiles, leather goods; food processing; handicrafts; aluminum products; cement; commercial ship repair; natural gas production |
| Population below poverty line | 48.6% (2014 est.) |
| Taxes and other revenues | 9% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Yemeni rials (YER) per US dollar - |
| Exchange rates 2022 | 1,114.293 (2022 est.) |
| Exchange rates 2021 | 1,035.467 (2021 est.) |
| Exchange rates 2020 | 743.006 (2020 est.) |
| Exchange rates 2019 | 486.731 (2019 est.) |
| Exchange rates 2018 | 214.89 (2018 est.) |
| Debt - external | |
| Debt - external 2018 | $6.805 billion (2018 est.) |
| Debt - external 31 December 2016 | $7.181 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $1.251 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $1.688 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $969.613 million (2020 est.) |
| Current account balance | |
| Current account balance 2016 | -$2.419 billion (2016 est.) |
| Current account balance 2015 | -$3.026 billion (2015 est.) |
| Current account balance 2014 | -$1.488 billion (2014 est.) |
| Public debt | |
| Public debt 2017 | 74.5% of GDP (2017 est.) |
| Budget | |
| Revenues | $2.207 billion (2019 est.) |
| Expenditures | $3.585 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 20.52% of GDP (2023 est.) |
| Remittances 2022 | 16.01% of GDP (2022 est.) |
| Remittances 2021 | 19.58% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3% (2014 est.) |
| Highest 10% | 29.4% (2014 est.) |
| Imports | |
| Imports 2017 | $4.079 billion (2017 est.) |
| Imports 2016 | $8.256 billion (2016 est.) |
| Imports 2015 | $7.697 billion (2015 est.) |
| Imports (partners) | China 26%, UAE 14%, Turkey 10%, India 10%, Oman 4% (2022) |
| Comodities Imports force | wheat, raw iron bars, rice, garments, milk (2022) |
| Exports | |
| Imports 2017 | $4.079 billion (2017 est.) |
| Imports 2016 | $8.256 billion (2016 est.) |
| Imports 2015 | $7.697 billion (2015 est.) |
| Exports (partners) | China 32%, Thailand 20%, India 12%, UAE 7%, Oman 5% (2022) |
| Comodities Exports force | crude petroleum, scrap iron, gold, fish, shellfish (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2017 | $73.63 billion (2017 est.) |
| Real GDP (purchasing power parity) 2016 | $78.28 billion (2016 est.) |
| Real GDP (purchasing power parity) 2015 | $90.63 billion (2015 est.) |
| GDP (official exchange rate) | $21.606 billion (2018 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2017 | $2,500 (2017 est.) |
| Real GDP per capita 2016 | $2,700 (2016 est.) |
| Real GDP per capita 2015 | $3,200 (2015 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 20.3% (2017 est.) |
| Industry | 11.8% (2017 est.) |
| Services | 67.9% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 116.6% (2017 est.) |
| Government consumption | 17.6% (2017 est.) |
| Investment in fixed capital | 2.2% (2017 est.) |
| Investment in inventories | 0% (2017 est.) |
| Exports of goods and services | 7.5% (2017 est.) |
| Imports of goods and services | -43.9% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 17.22% (2023 est.) |
| Unemployment rate 2022 | 17.52% (2022 est.) |
| Unemployment rate 2021 | 18.25% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 32.7% (2023 est.) |
| Male | 32.1% (2023 est.) |
| Female | 38.4% (2023 est.) |
All Important Facts about Yemen
Want to know more about Yemen? Check all different factbooks for Yemen below.
