Overview: The low level of domestic industry and agriculture make North Yemen dependent on imports for virtually all of its essential needs. Large trade deficits are made up for by remittances from Yemenis working abroad and foreign aid. Once self-sufficient in food production, the YAR is now a major importer. Land once used for export crops--cotton, fruit, and vegetables--has been turned over to growing qat, a mildly narcotic shrub chewed by Yemenis that has no significant export market. Oil export revenues started flowing in late 1987 and boosted 1988 earnings by about $800 million.

GDP: $5.5 billion, per capita $820; real growth rate 19.7% (1988 est.)

Inflation rate (consumer prices): 16.9% (1988)

Unemployment rate: 13% (1986)

Budget: revenues $1.32 billion; expenditures $2.18 billion, including capital expenditures of $588 million (1988 est.)

Exports: $853 million (f.o.b., 1988); commodities--crude oil, cotton, coffee, hides, vegetables; partners--US 41%, PDRY 14%, Japan 12%

Imports: $1.3 billion (f.o.b., 1988); commodities--textiles and other manufactured consumer goods, petroleum products, sugar, grain, flour, other foodstuffs, and cement; partners--Italy 10%, Saudi Arabia 9%, US 9.3%, Japan 9%, UK 8% (1985)

External debt: $3.5 billion (December 1989 est.)

Industrial production: growth rate 2% in manufacturing (1988)

Electricity: 415,000 kW capacity; 500 million kWh produced, 70 kWh per capita (1989)

Industries: crude oil production, small-scale production of cotton textiles and leather goods; food processing; handicrafts; fishing; small aluminum products factory; cement

Agriculture: accounts for 50% of GDP and 70% of labor force; farm products--grain, fruits, vegetables, qat (mildly narcotic shrub), coffee, cotton, dairy, poultry, meat, goat meat; not self-sufficient in grain

Aid: US commitments, including Ex-Im (1970-88), $354 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $1.4 billion; OPEC bilateral aid (1979-89), $2.9 billion; Communist countries (1970-88), $248 million

Currency: Yemeni riyal (plural--riyals); 1 Yemeni riyal (YR) = 100 fils

Exchange rates: Yemeni riyals (YR) per US$1--9.7600 (January 1990), 9.7600 (1989), 9.7717 (1988), 10.3417 (1987), 9.6392 (1986), 7.3633 (1985)

Fiscal year: calendar year

NOTE: The information regarding Yemen Arab Republic on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Yemen Arab Republic Economy 1990 information contained here. All suggestions for corrections of any errors about Yemen Arab Republic Economy 1990 should be addressed to the CIA.