Yemen Economic Outlook
September 4, 2018The conflict in Yemen, which according to the United Nations has created the world’s largest humanitarian crisis, continued unabated in recent weeks, piling further pressure on the already-crippled economy. The port city of Hodeidah, which brings most of the food and fuel supplies into the country and is controlled by Iranian-aligned Houthi rebels, remains under siege by the Saudi-backed coalition following debilitating airstrikes on the city throughout August. Meanwhile, the first outbound shipment of oil since the civil war began was exported in recent weeks, sourced from a field in southern Shabwa. The Oil and Minerals Ministry later announced that it is planning to restart other oil fields in the government-held province too, which would help alleviate pressure on the trade balance.
Yemen Economic GrowthThis year, the economy is likely to contract further owing to continued heavy conflict. FocusEconomics panelists expect the economy to contract 1.2% in 2018, which is 0.5 percentage points down from last month’s forecast. They see the economy expanding 7.9% in 2019.
Yemen Economy Data
|GDP per capita (USD)||1,344||1,164||937||761||-|
|GDP (USD bn)||35.8||32.0||26.5||22.2||-|
|Economic Growth (GDP, annual variation in %)||3.6||-10.6||-29.2||-9.8||-|
|Fiscal Balance (% of GDP)||-6.9||-7.1||-12.0||-||-|
|Public Debt (% of GDP)||48.2||51.6||70.9||-||-|
|Inflation Rate (CPI, annual variation in %)||11.0||8.2||39.4||5.0||20.0|
|Policy Interest Rate (%)||15.00||15.00||15.00||15.00||15.00|
|Exchange Rate (vs USD)||214.9||215.0||215.2||250.2||250.3|
|Exchange Rate (vs USD, aop)||215.0||215.0||215.0||241.0||250.3|
|Current Account (% of GDP)||-4.3||-4.7||-11.4||-||-|
|Current Account Balance (USD bn)||-1.5||-1.5||-3.0||-||-|
|Trade Balance (USD billion)||-6.2||-9.6||-6.1||-6.9||-|
|Exports (USD billion)||7.1||2.5||0.5||0.2||-|
|Imports (USD billion)||13.3||12.1||6.6||7.0||-|
|Exports (annual variation in %)||1.4||-64.6||-81.5||-60.5||-|
|Imports (annual variation in %)||17.9||-9.1||-45.5||7.1||-|
|International Reserves (USD)||5.3||4.7||2.0||-||-|
|External Debt (% of GDP)||21.1||24.5||27.5||31.9||-|
5 years of Yemen economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
|Exchange Rate||250.3||0.0 %||Sep 24|
|Stock Market||0.1||0.0 %||Sep 24|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.