How much did Yemen export in 2023?

Officially the Yemen Republic, Yemen exported US$528 million worth of products around the world in 2023. That estimated dollar amount results from a -67.7% drop over the 5-year period starting from $1.62 billion in 2019. Year over year, Yemen’s total revenues from exports plunged by -75.4% compared to $2.15 billion for 2022.

Does Yemen have a competitive advantage in the international trade of fish?

Yemen has highly positive net exports in the international trade of fish. In turn, these cashflows indicate Yemen’s strong competitive advantages under the related product category. Overall, Yemen incurred a projected -US$8 billion trade deficit for 2023, decreasing by -26.5% from -$10.9 billion during 2022.

What happened to Yemen's exports in 2022?

Year over year, Yemen’s total revenues from exports plunged by -75.4% compared to $2.15 billion for 2022. Based on the average exchange rate for 2023, the Yemeni rial depreciated by -178.4% against the US dollar since 2019 and diluted by -21.5% from 2022 to 2023.

Does Yemen have a strong currency?

Yemen’s weaker local currency makes its exports paid for in stronger US dollars relatively less expensive for international buyers. The top 5 most valuable products exported from Yemen are crude oil, iron or steel scrap, moluscs, electrical waste and scrap, copper scrap, and frozen whole fish.

What is Yemen's most valuable export product?

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. At the more detailed 4-digit Harmonized Tariff System code level, iron or steel scrap represents Yemen’s most valuable exported product at nearly one-quarter (23.7%) of the Middle Eastern country’s total.

Which export categories did Yemen lose the most in a year?

The leading decliner among Yemen’s top 10 export categories was mineral fuels including oil, recording a -97.7% year-over-year drop. Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.