Economy - overview:
Yemen, one of the poorest countries in the Arab world, reported
strong growth in the mid-1990s with the onset of oil production. It
has been harmed by periodic declines in oil prices, but now benefits
from current high prices. Yemen has embarked on an IMF-supported
structural adjustment program designed to modernize and streamline
the economy, which has led to substantial foreign debt relief and
restructuring. International donors, meeting in Paris in October
2002, agreed on a further $2.3 billion economic support package.
Yemen has worked to maintain tight control over spending and to
implement additional components of the IMF program. A markedly high
population growth rate and internal political dissension complicate
the government's task. Plans include a diversification of the
economy, encouragement of tourism, and more efficient use of scarce
water resources.
GDP:
purchasing power parity - $15.09 billion (2003 est.)
GDP - real growth rate:
2.8% (2003 est.)
GDP - per capita:
purchasing power parity - $800 (2003 est.)
GDP - composition by sector: agriculture: 15.2% industry: 45% services: 39.7% (2003)
Investment (gross fixed):
29.1% of GDP (2003)
Population below poverty line:
15.7% (2001)
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 25.9% (2003)
Distribution of family income - Gini index:
33.4 (1998)
Inflation rate (consumer prices):
10.8% (2003 est.)