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    Yemen, People's Democratic Republic of Economy - 1990

      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: $1.2 billion, per capita $495; real growth rate 5.2% (1988 est.)

      Inflation rate (consumer prices): 2.8% (1987)

      Unemployment rate: NA%

      Budget: revenues $429 million; expenditures $976 million, including capital expenditures of $402 million (1988 est.)

      Exports: $82.2 million (f.o.b., 1988 est.); commodities--cotton, hides, skins, dried and salted fish; partners--Japan, YAR, Singapore

      Imports: $598.0 million (f.o.b., 1988 est.); commodities--grain, consumer goods, crude oil, machinery, chemicals; partners--USSR, Australia, UK

      External debt: $2.25 billion (December 1989 est.)

      Industrial production: growth rate NA%

      Electricity: 245,000 kW capacity; 600 million kWh produced, 240 kWh per capita (1989)

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

      Agriculture: accounts for 13% of GNP and 45% of labor force; products--grain, qat (mildly narcotic shrub), coffee, fish, livestock; fish and honey major exports; most food imported

      Aid: US commitments, including Ex-Im (FY70-80), $4.5 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $241 million; OPEC bilateral aid (1979-89), $279 million; Communist countries (1970-88), $2.2 billion

      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 1990 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 1990 information contained here. All suggestions for corrections of any errors about Yemen, People's Democratic Republic of Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)