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Yemen is a low income country that is highly dependent on declining oil resources for revenue. Petroleum accounts for roughly 25% of GDP and 70% of government revenue. Annual real GDP growth has averaged 3-4% since 2000. Yemen has been largely unaffected by and insulated from the effects of the global economic crisis because its financial system is underdeveloped and not well integrated into the international community, but the drop in oil prices since mid-2008 slashed government oil revenues in 2009 by more than 50%, as compared to 2008. Yemen has tried to counter the effects of its declining oil resources by di...  More..

Economy of Yemen
SOURCE: CIA - The World Factbook
Currency Yemeni Rial
GDP (PPP) $58.19 billion (2009 est.)
GDP (per capita) $2,500 (2009 est.)
Exports $5.55 billion (2009 est.)
Imports $7.12 billion (2009 est.)
Main Industries Crude Oil Production and Petroleum Refining; Small-scale Production Of Cotton Textiles and Leather Goods; Food Processing; Handicrafts; Small Aluminum Products Factory; Cement; Commercial Ship Repair; Natural Gas Production
Exports - Commodities Crude Oil, Coffee, Dried and Salted Fish, Liquefied Natural Gas
Imports - Commodities Food and Live Animals, Machinery and Equipment, Chemicals
Exports Partners China 30.9%, Thailand 25.7%, South Africa 14.6%, India 8.8%, Japan 5.1%, UAE 4.2% (2008)
Imports Partners UAE 15.5%, China 11.8%, India 8.4%, Saudi Arabia 7.3%, Kuwait 5.4%, US 4.1% (2008)

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