Yemen

Yemen

In terms of GDP per capita, Yemen is the poorest country in the Arab world and one of the poorest nations in the world. With production of coffee and Qat in the North and pre-independence economic activity in the port city of Aden in the South, Yemen has low domestic industrial output and a lack of raw materials making it dependent on a wide variety of imports.

 

The main oil produced and used in Yemen is Marib oil. Marib oil contains associated natural gas. Proven reserves of 10 to 13 trillion cubic feet (283 to 368 km³) could sustain a liquid natural gas (LNG) export project.

 

Since the conclusion of the war, the government entered into agreement with the International Monetary Fund (IMF) to implement a structural adjustment program. Phase one of the IMF program included major financial and monetary reforms, including floating the currency, reducing the budget deficit, and cutting subsidies. Phase two will address structural issues such as civil service reform. The World Bank also is active in Yemen, with 22 active projects in 2004, including projects to improve governance in the public sector, water, and education. Since 1998, the government of Yemen has sought to implement World Bank economic and fiscal recommendations. In subsequent years, Yemen has lowered its debt burden through Paris Club agreements and restructuring U.S. foreign debt. In 2003, government reserves reached $5 billion.

 

Total GDP: $55.28 billion (2008 est.)

 

GDP Growth Rate: 3.2% (2008 est.)

 

GDP Per Capita: $2,400 (2008 est.)

 

Population: 23,822,783 (July 2009 est.)

 

Population Growth Rate: 3.453% (2009 est.)

 

Fertility Rate: 6.32 children born/woman (2009 est.)

 

Age Structure:

0-14 years: 46.2% (male 5,602,590/female 5,398,103)

15-64 years: 51.3% (male 6,212,378/female 6,009,401)

65 years and over: 2.5% (male 288,501/female 311,810)

(2009 est.)

 

Source: CIA World Factbook