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    Yemen, People's Democratic Republic of Economy - 1989

      Overview: The PDRY is one of the poorest Arab countries, with a per capita GNP of about $500. A shortage of natural resources, a widely dispersed population, and an arid climate make economic development difficult. The economy has grown at an average annual rate of only 2-3% since the mid-1970s. The economy is organized along socialist lines, dominated by the public sector. Economic growth has been constrained by a lack of incentives, partly stemming from centralized control over production decisions, investment allocation, and import choices.

      GNP: $1.01 billion, per capita $480; real growth rate - 6.6% (1986)

      Inflation rate (consumer prices): 0.8% (1986)

      Unemployment rate: NA%

      Budget: revenues $474 million; expenditures $848 million, including capital expenditures of $323 million (1987 est.)

      Exports: $54.0 million (f.o.b., 1987 est.); @m5commodities--cotton, hides, skins, dried and salted fish; @m5partners--Japan 36%, YAR 23%, Singapore 10%

      Imports: $497.0 million (f.o.b., 1987 est.); @m5commodities--grain, consumer goods, crude oil, machinery, chemicals; @m5partners--USSR 14%, Australia 9%, UK 7%

      External debt: $2.23 billion (December 1988 est.)

      Industrial production: growth rate NA%

      Electricity: 245,000 kW capacity; 601 million kWh produced, 250 kWh per capita (1988)

      Industries: petroleum refinery (operates on imported crude oil); fish

      Agriculture: cotton is main cash crop; cereals, dates, qat (a mildly narcotic shrub), coffee, livestock; large amount of food must be imported (particularly for Aden)

      Aid: NA

      Currency: Yemeni dinar (plural--dinars); 1 Yemeni dinar (YD) = 1,000 fils

      Exchange rates: Yemeni dinars (YD) per US$1--0.3454 (fixed rate)

      Fiscal year: calendar year

      NOTE: The information regarding Yemen, People's Democratic Republic of on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Yemen, People's Democratic Republic of Economy 1989 information contained here. All suggestions for corrections of any errors about Yemen, People's Democratic Republic of Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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