Trade between Yemen and Arab countries increased in 2006

Trade between Yemen and Arab countries increased in 2006


The volume of trade between Yemen and Arab countries increased to YR 510.407 billion, at the end of 2006, representing an increase of YR 88.678 billion over 2005, and a growth rate of 17 percent, according to preliminary statistics issued by the Ministry of Planning and International Cooperation. More products are being imported from Arab countries to Yemen than Yemen is exporting to other Arab countries.

The surplus gained by Arab countries amounted to YR 305.173 billion, which is an increase of YR 64.330 billion, for the same period. The total value of Yemeni non-oil exports to the Arab countries was YR 102.617 billion at the end of 2006, an increase from 2005 of YR 12.173 billion. Yemen’s exports to Arab countries included: fresh fish and frozen, vegetables, fruits, leather, detergent, biscuits, honey, coffee, cotton, and cigarettes. Yemeni exports to Arab countries amounted to YR 407.790 billion, an increase of YR 76.504 billion during the same period.

Yemen’s imports from those countries were wheat, flour, rice, different types of fuel and lubricants, cars and trucks, medicine, sugar, fresh and frozen and powdered milk, cement and vegetable, cooking oil, shoes, clothes, iron bars and gas pipelines and remnants of chemical industries, goats and cows. The report said the states of the Gulf Cooperation Council conducted most of the trade with Yemen, which reached YR 344.7 billion by the end of 2006, while the volume of trade exchange with other Arab countries did not exceed one million rials. Economists believe that the increase came as a result of framework of the Greater Arab Free Trade signed by 17 Arab countries, including Yemen, where the Convention provides exemptions for Arab products by 40 to 45 percent of the customs fees.