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

Vice Foreign Minister meets with Acting U.S. Treasury Assistant Secretary

Vice Foreign Minister Mustafa Noman met Tuesday here with the Acting USTreasury Assistant Secretary Anna Morris.

Israeli aggression on Gaza leaves 51,157 people martyred, and 116,724 others Injured

The ongoing aggression by Israeli occupation forces on Gaza has resulted in a death toll of 51,157 and 116,724 injuries since October 7, 2023.

Oil prices fall to $65.61 a barrel

Crude oil prices fell in early Asian trading today, Tuesday, as investors' expectations of demand growth eased due to ongoing trade tensions between the United States and China.

Barcelona Wins UEFA Youth League

The Spanish team, Barcelona, won the UEFA Youth League title after a resounding 4-1 victory over Trabzonspor in the final.

Last Update: ، 2025/04/30 Time 08:34:19
Latest News:

Marib local authority discusses difficult conditions with Humanitarian Coordinator

Al-Aradah discusses latest developments with Dutch Ambassador

President al-Alimi praises Dutch contribution to development drive

Hadramout Governor, Chinese Ambassador discuss development efforts

Yemeni Ambassador to Japan, Accept International Discuss Humanitarian Cooperation

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.