The Financial Crisis and its Impacts on the MENA Region

 
Publisher: Middle East Commercial Services Limited
 

Yemen

Capital: Sanaa
Population: 23, 013, 376
Area: 527, 970 SQ KM
Currency: Yemeni Rial
Currency Code: YER
GDP Per Capita (PPP): $ 2, 300
GDP (Purchasing Power Parity): $52.05 Billion
GDP (Official Exchange Rate): $21.66 Billion
GDP Real Growth Rate: 3.1%
GDP Composition by Industry Sector: Agriculture: 12.3% - Industry: 41.5% - Services: 46.2%


Industry: Crude Oil Production and Petroleum Refining, small-scale production of Cotton Textiles and Leather Goods, Food Processing, Handicrafts, Small Aluminum Products, Cement, and Commercial Ship Repair.


Economy: Yemen has reported an average annual growth between 2000 and 2007 of 3 – 4 %.  Its economy is heavily dependent on declining oil resources, with the country trying to diversify its earnings.  In 2006, Yemen began an economic reform programme designed to bolster non-oil sectors of the economy and foreign investment.  As a result of the programme, international donors pledged $5 billion for development projects.  In addition, Yemen has made some progress on reforms over the past year that are likely to attract foreign investment.

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