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, milk, onions, spices, chicken, sorghum, watermelons, tomatoes, grapes (2023).
More about the economy of Yemen
| Labor force | 7.848 million (2024 est.) |
|---|---|
| Industrial production growth rate | -1.1% (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 | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Yemeni rials (YER) per US dollar - |
| Exchange rates 2023 | 1,355.116 (2023 est.) |
| Exchange rates 2022 | 1,115.002 (2022 est.) |
| Exchange rates 2021 | 1,028.108 (2021 est.) |
| Exchange rates 2020 | 743.006 (2020 est.) |
| Exchange rates 2019 | 486.731 (2019 est.) |
| Debt - external | |
| Debt - external 2023 | $6.492 billion (2023 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 2016 | 68.1% of GDP (2016 est.) |
| Budget | |
| Revenues | $2.207 billion (2019 est.) |
| Expenditures | $3.585 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 20.05% of GDP (2023 est.) |
| Remittances 2022 | 16.02% of GDP (2022 est.) |
| Remittances 2021 | 19.44% of GDP (2021 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 23%, UAE 15%, Saudi Arabia 11%, Turkey 8%, India 7% (2023) |
| Comodities Imports force | wheat, raw sugar, rice, iron bars, plastic products (2023) |
| Exports | |
| Imports 2017 | $4.079 billion (2017 est.) |
| Imports 2016 | $8.256 billion (2016 est.) |
| Imports 2015 | $7.697 billion (2015 est.) |
| Exports (partners) | UAE 28%, India 21%, Saudi Arabia 17%, Oman 7%, Malaysia 5% (2023) |
| Comodities Exports force | gold, fish, scrap iron, shellfish, industrial acids/oils/alcohols (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $18.719 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $18.908 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $19.294 billion (2022 est.) |
| GDP (official exchange rate) | $8.278 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $200 (2024 est.) |
| Real GDP per capita 2023 | $200 (2023 est.) |
| Real GDP per capita 2022 | $300 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 28.7% (2018 est.) |
| Industry | 25.4% (2018 est.) |
| Services | 41.8% (2018 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 17.1% (2024 est.) |
| Unemployment rate 2023 | 17.1% (2023 est.) |
| Unemployment rate 2022 | 17.4% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 32.4% (2024 est.) |
| Male | 31.8% (2024 est.) |
| Female | 38.4% (2024 est.) |
All Important Facts about Yemen
Want to know more about Yemen? Check all different factbooks for Yemen below.
