Country Details
Yemen
Middle East, bordering the Arabian Sea, Gulf of Aden, and Red Sea, between Oman and Saudi Arabia
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Economy
Detailed information and insights
Economic overview
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
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.)
Real GDP growth rate
Real GDP growth rate 2018
0.8% (2018 est.)
Real GDP growth rate 2017
-5.1% (2017 est.)
Real GDP growth rate 2016
-9.4% (2016 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 (official exchange rate)
$8.278 billion (2024 est.)
Note
note: data in current dollars at official exchange rate
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
29.1% (2022 est.)
Inflation rate (consumer prices) 2021
26% (2021 est.)
Inflation rate (consumer prices) 2020
19.6% (2020 est.)
GDP - composition, by sector of origin
Agriculture
28.7% (2018 est.)
Industry
25.4% (2018 est.)
Services
41.8% (2018 est.)
Agricultural products
mangoes/guavas, potatoes, milk, onions, spices, chicken, sorghum, watermelons, tomatoes, grapes (2023)
Note
note: top ten agricultural products based on tonnage
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
Industrial production growth rate
-1.1% (2018 est.)
Note
note: annual % change in industrial value added based on constant local currency
Labor force
7.848 million (2024 est.)
Note
note: number of people ages 15 or older who are employed or seeking work
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.)
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.)
Budget
Revenues
$2.207 billion (2019 est.)
Expenditures
$3.585 billion (2019 est.)
Public debt
Public debt 2016
68.1% of GDP (2016 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.)
Exports
Exports 2017
$384.5 million (2017 est.)
Exports 2016
$938.469 million (2016 est.)
Exports 2015
$1.867 billion (2015 est.)
Exports - partners
UAE 28%, India 21%, Saudi Arabia 17%, Oman 7%, Malaysia 5% (2023)
Note
note: top five export partners based on percentage share of exports
Exports - commodities
gold, fish, scrap iron, shellfish, industrial acids/oils/alcohols (2023)
Note
note: top five export commodities based on value in dollars
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)
Note
note: top five import partners based on percentage share of imports
Imports - commodities
wheat, raw sugar, rice, iron bars, plastic products (2023)
Note
note: top five import commodities based on value in dollars
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.)
Debt - external
Debt - external 2023
$6.492 billion (2023 est.)
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.)