$ 6 Billion Yemen Trade Balance Deficit in 2018
English - Saturday 27 April 2019 الساعة 04:15 pm
Aden – NewsYemen.net
Yemen's trade balance declined sharply during the last year 2018. The deficit between the import and export bill reached about $ 6 billion and $ 29 million , and reached about 90%.
Yemen's exports of goods and services during the past year reached $ 305 million, compared with $ 7.3 billion in the same period last year, a report stated.
The Yemen's economy is going through very critical conditions. The cumulative decline in indicators and macroeconomic balances has reached its worst stage.
In the current war and the stopping of trade activities, the balance of payments deficit and trade balance of the country are increasing.
The World Bank report, which draws its data from the Central Bank of Yemen and the International Monetary Fund and staff estimates, that the value of Yemeni exports of goods and services amounted to $ 1.3 305 billion, of which $ 894 million sales of crude oil, and $ 411 million value of non-oil.
While the value of import bills of the country's goods and services amounted to about $ 7.3 billion dollars, of which $ 542 million worth of fuel imports, $ 1.4 billion worth of food imports and the rest of the value of other imports.
The pressure on the balance of payments was high during 2018 due to the declining of oil revenues, the decline in remittances and the continued increase in demand for food and fuel imports, the current account deficit is likely to remain high.
The war, which has entered its fifth year, has brought economic activities to a halt on a large scale, owing to the decline in jobs, private sector operations and business opportunities.
Operation costs have also risen sharply as a result of insecurity and shortages of supplies, resulting lay off large numbers of employees in public and private sectors.
