Yemen Economic Forecast

Yemen Economic Outlook

April 10, 2018

The economic situation remains grim. Food and fuel imports remain too low to meet domestic requirements, and the cholera outbreak is likely to flare up again as the country enters the rainy season. In addition, the price of basic staples has spiked on a weaker market exchange rate, and many public sector salaries are not being paid. There is also a risk that armed conflict could escalate further, after Houthi rebels recently attacked a Saudi oil tanker in response to a rocket strike that killed several civilians in the key port of Hodeidah. A slither of positive news came in early April, when countries pledged USD 2 billion in aid, with around half the funding to come from UAE and Saudi Arabia.

Yemen Economic Growth

The economy should expand slightly this year thanks to international support, although this is subject to a favorable evolution of the civil war. FocusEconomics panelists expect the economy to grow 1.2% in 2018, unchanged from last month’s forecast, and 4.9% in 2019.

Yemen Economy Data

Population (million)25.926.7-  -  -  
GDP per capita (USD)1,2391,344-  -  -  
GDP (USD bn)32.135.8-  -  -  
Economic Growth (GDP, annual variation in %)2.0-1.6-  -  -  
Fiscal Balance (% of GDP)-5.4-8.0-  -  -  
Public Debt (% of GDP)52.955.4-  -  -  
Inflation Rate (CPI, annual variation in %)9.911.0-  -  -  
Policy Interest Rate (%)18.0015.00-  -  -  
Exchange Rate (vs USD)214.4214.9-  -  -  
Exchange Rate (vs USD, aop)215.6215.0-  -  -  
Current Account (% of GDP)-1.0-4.3-  -  -  
Current Account Balance (USD bn)-0.3-1.5-  -  -  
Trade Balance (USD billion)-3.5-2.9-  -  -  
Exports (USD billion)7.87.8-  -  -  
Imports (USD billion)11.410.8-  -  -  
Exports (annual variation in %)-14.40.4-  -  -  
Imports (annual variation in %)32.9-5.3-  -  -  
International Reserves (USD)6.25.3-  -  -  
External Debt (% of GDP)24.121.1-  -  -  

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Yemen Facts

Exchange Rate250.10.0 %Apr 19
Exchange Rate250.10.0 %Apr 19
Stock Market0.10.0 %Apr 19
Stock Market0.10.0 %Apr 19

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