Yemen's Macroeconomic Statistics
Yemen's income is rather low, and it depends on its decreasing oil resources for the bulk of its revenue. Oil makes up about 25% of the emirate's GDP, and almost seventy percent of the government's revenue. Since 2000, annual GDP growth has averaged between 3% and 4%, a number that is expected to remain the same in 2011.
Yemen has been almost unaffected by the global economic downturn, because it has an underdeveloped banking system, and it is not a full participant in the global community. A drop in oil prices that started in 2008 cut 2009 oil revenues by more than half, and Yemen's government has tried to mitigate the effect by implementing various economic reforms. Those reforms are intended to diversify Yemen's economy and reduce its reliance on oil.
Of all the countries in the Arab world, Yemen is probably one of the least developed and most poor. It has a documented unemployment rate of 65%, declining natural resources and a rising population. Corruption is one of the biggest obstacles to the economy's development, limiting foreign investment. The government of Yemen has taken steps to cut down on corruption, but success has been limited.
Want to know more? Below is a list of more resources, both on our site and on other great sites on the internet. Check them out, and let us know if you have any suggestions for other resources.