Yemen's economy shrank by one third, unemployment rose up to 70%, says minister of industry

Yemen and China Sign Protocol on Seafood Exports to China

Yemen and China signed a protocol on inspection and health requirements for Yemeni seafood exports to China, strengthening economic cooperation between the two nations.

Gaza Casualty Toll Rises to 67,682 Martyrs and 170,033 Injured in Israeli Aggression

The casualty toll from the Israeli aggression on Gaza has risen to 67,682 martyrs and 170,033 injured since October 7, 2023.

Chinese Central Bank conducts direct reverse repurchase operation worth 600 billion yuan

The People's Bank of China announced last Tuesday that it would conduct a direct reverse repurchase operation worth 600 billion yuan (approximately 84.48 billion US dollars) today, Wednesday, in order to maintain ample liquidity in the banking system.

Ghana qualifies for the 2026 World Cup

Ghana qualified for the 2026 World Cup after defeating Comoros 1-0 in the African qualifiers.

Last Update: ، 2025/10/16 Time 03:20:26
Latest News:

Yemen Participates in 40th Indonesia Trade Expo in Jakarta

Vice FM and Omani Official Discuss Strengthening Bilateral Ties

Yemen Participates in Key Arab Water and Agriculture Ministers' Meeting in Cairo

Non-Aligned Movement Ministers Reaffirm Commitment to Yemen's Unity and Sovereignty

Coast Guard Chief discusses joint security cooperation with Djibouti

Yemen's economy shrank by one third, unemployment rose up to 70%, says minister of industry

[27/11/2017 05:50]

VIENNA-SABA

Minister of Industry and Trade Dr Mohammed Al-Maitami said:" Yemen's Gross Domestic Production (GDP) shrank by one third because of the war that has caused grave damage on industrial sector in Yemen".

Speaking at the general conference of the United Nations for Industrial Development (UNIDO) held in Vienna, Dr al-Maitani added:" Above half of industrial facilities have been destroyed or ceased to operate and more than 65% of workers in industrial private-owned companies were sacked, as a result unemployment percentage increased up to 70%".

Al-Maitami underscored grave damages inflicted upon Yemen's economy and industrial sector—in particular—due to the ominous coup d'état on September 21,2014 against legal authority and political transition process.

The minister made clear that Yemen may count on significant support by (UNIDO) including technical and financial assistance to help drawing Yemeni vision that can enable the country to manage the economic hardships.