The economic backwardness Yemen is one of the least developed countries in the world. In the 1991 Gulf War and the 1994 civil war serious setback for the national economy. In 1995, the Yemeni government began economic, fiscal and administrative reforms. 1996-2000, GDP average annual growth rate of 5.5%, the fiscal revenue has increased year by year. The first time in 2001 fiscal surplus. In 2005 the government to further economic reform measures introduced to cut fuel subsidies, lower import tariffs, and strive to adjust the economic structure, improve the investment environment, reduce its financial burden, achieved some success, so also basically stable economic operation, main economic indicators.
Also economic development is mainly dependent on oil export revenues. Recoverable proven oil reserves of about 60 billion barrels of recoverable gas reserves of about 500 billion cubic meters. Yemen did not participate in any OPEC quota restrictions, and therefore not subject to international oil organization more autonomy in production. The Government attaches great importance to the exploration and exploitation of oil, force Yemen craftsmen weaving carpets Figure by development of oil and mineral resources to overcome the economic difficulties. Benefit from high oil prices in the international market, in 2005, also oil export revenues amounted to $ 3.1 billion, accounting for 60% of fiscal revenue.
In addition, the impact of foreign aid on about pushing for economic development also play an important role. Since 1997, from the Western countries and international financial organizations to obtain nearly $ 3 billion in aid and concessional loans, waive or over 70 billion U.S. dollars debt rescheduling. , Third Yemeni donors conference held in Paris in October 2002. The United States, Britain, France, the World Bank, the International Monetary Fund organizations of 34 countries and international and regional organizations at the meeting promised to also provide a total of $ 2.3 billion economic aid between 2003-2005. In October 2003, the EU committed itself to also aid in 2003-2006, 91.7 million euros. In addition, the World Bank and the Foundation of the Arab countries to also provide the total of about $ 1 billion. Or the main recipients of the United States and the European Union and other Western countries in the region, bilateral aid provided by the United States, Britain, Germany, Italy, France, the Netherlands, Japan and other Western countries annually to also mostly in the $ 30 million.
The main economic data (2005):
GDP: $ 15.6 billion.
GDP per capita: $ 750.
GDP growth rate: 4.6%.
Inflation rate: 10%.
External debt: $ 5.381 billion.
Currency Name: Rial (YER).
The official exchange rate: U.S. $ 1 = 194 riyals.
Resources: In addition to oil, Yemen, as well as copper, iron, aluminum, chromium, nickel, cobalt, gold, silver, coal, salt, marble, sulfur, petroleum, natural gas, gypsum.
Industry: textiles, petroleum, chemicals, aluminum, leather, cement, building materials, cigarettes, food and processing industries. The mid-1980s to start drilling for oil. Yemeni generating capacity of 3.2 billion kwh in 2000.
Agriculture: There are 1.66 million hectares of arable land have been cultivated area of about 1.27 million hectares. Agricultural population accounts for about 75% of the country's population. The main agricultural products are cotton, coffee, sorghum, millet, maize, barley, beans, sesame, Carter and tobacco. Food insufficiency, half rely on imports, cotton and coffee available for export.
Transportation: National Railway. Road length of 69,263 kilometers, including asphalt 9963 kilometers, 59,300 kilometers of unsealed roads. Air, Yemen has five major airports, Sana'a, Aden, Li Yang, Taz and Dutch Delta, a total of 49 airports, including 14 airports with asphalt runway; Sanaa, Aden and Li Yang Airport is the international airport. In May 1996, the former Yugoslavia, the northern two state-run airlines merged Yemen Airways Yemeni government holding 51% the Saudi government accounted for 49% of the shares, a total of 20 civil aircraft. Shipping, port 7. Aden Port is the largest port, 30 berths, dockable ton cargo; Hodeidah Port annual throughput of 1.5 million tons; wooden Kazakhstan the annual throughput of 350,000 tons; addition Mukalla Port.
Fiscal and financial: the 2006 budget total revenue of approximately $ 5.4 billion, with a total expenditure of about $ 6.1 billion, the budget deficit of about $ 700 million. As of November 2005, the foreign exchange reserves of $ 6.3 billion to the end of 2005, the total external debt of $ 5.381 billion.
Also economic development is mainly dependent on oil export revenues. Recoverable proven oil reserves of about 60 billion barrels of recoverable gas reserves of about 500 billion cubic meters. Yemen did not participate in any OPEC quota restrictions, and therefore not subject to international oil organization more autonomy in production. The Government attaches great importance to the exploration and exploitation of oil, force Yemen craftsmen weaving carpets Figure by development of oil and mineral resources to overcome the economic difficulties. Benefit from high oil prices in the international market, in 2005, also oil export revenues amounted to $ 3.1 billion, accounting for 60% of fiscal revenue.
In addition, the impact of foreign aid on about pushing for economic development also play an important role. Since 1997, from the Western countries and international financial organizations to obtain nearly $ 3 billion in aid and concessional loans, waive or over 70 billion U.S. dollars debt rescheduling. , Third Yemeni donors conference held in Paris in October 2002. The United States, Britain, France, the World Bank, the International Monetary Fund organizations of 34 countries and international and regional organizations at the meeting promised to also provide a total of $ 2.3 billion economic aid between 2003-2005. In October 2003, the EU committed itself to also aid in 2003-2006, 91.7 million euros. In addition, the World Bank and the Foundation of the Arab countries to also provide the total of about $ 1 billion. Or the main recipients of the United States and the European Union and other Western countries in the region, bilateral aid provided by the United States, Britain, Germany, Italy, France, the Netherlands, Japan and other Western countries annually to also mostly in the $ 30 million.
The main economic data (2005):
GDP: $ 15.6 billion.
GDP per capita: $ 750.
GDP growth rate: 4.6%.
Inflation rate: 10%.
External debt: $ 5.381 billion.
Currency Name: Rial (YER).
The official exchange rate: U.S. $ 1 = 194 riyals.
Resources: In addition to oil, Yemen, as well as copper, iron, aluminum, chromium, nickel, cobalt, gold, silver, coal, salt, marble, sulfur, petroleum, natural gas, gypsum.
Industry: textiles, petroleum, chemicals, aluminum, leather, cement, building materials, cigarettes, food and processing industries. The mid-1980s to start drilling for oil. Yemeni generating capacity of 3.2 billion kwh in 2000.
Agriculture: There are 1.66 million hectares of arable land have been cultivated area of about 1.27 million hectares. Agricultural population accounts for about 75% of the country's population. The main agricultural products are cotton, coffee, sorghum, millet, maize, barley, beans, sesame, Carter and tobacco. Food insufficiency, half rely on imports, cotton and coffee available for export.
Transportation: National Railway. Road length of 69,263 kilometers, including asphalt 9963 kilometers, 59,300 kilometers of unsealed roads. Air, Yemen has five major airports, Sana'a, Aden, Li Yang, Taz and Dutch Delta, a total of 49 airports, including 14 airports with asphalt runway; Sanaa, Aden and Li Yang Airport is the international airport. In May 1996, the former Yugoslavia, the northern two state-run airlines merged Yemen Airways Yemeni government holding 51% the Saudi government accounted for 49% of the shares, a total of 20 civil aircraft. Shipping, port 7. Aden Port is the largest port, 30 berths, dockable ton cargo; Hodeidah Port annual throughput of 1.5 million tons; wooden Kazakhstan the annual throughput of 350,000 tons; addition Mukalla Port.
Fiscal and financial: the 2006 budget total revenue of approximately $ 5.4 billion, with a total expenditure of about $ 6.1 billion, the budget deficit of about $ 700 million. As of November 2005, the foreign exchange reserves of $ 6.3 billion to the end of 2005, the total external debt of $ 5.381 billion.
