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 2022 $5.687 billion (2022 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 28.7% (2018 est.)
Industry 25.4% (2018 est.)
Services 41.8% (2018 est.)
GDP - composition, by end use
Household consumption 126.4% (2018 est.)
Government consumption 9.1% (2018 est.)
Investment in fixed capital 5.8% (2018 est.)
Exports of goods and services 8.8% (2018 est.)
Imports of goods and services -50.1% (2018 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.

Yemen is found in Western Asia