Finance of Yemen

The minimum monthly wage in Yemen is not regulated by the government. Yemen has a government debt of 42.5% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Yemen is 11.8%. The currency of Yemen is Yemeni rial. The plural form of the word Yemeni rial is rials. The symbol used for this currency is ﷼, and it is abbreviated as YER. The Yemeni rial is divided into fils; there are 100 in one rial. Each year, consumers spend around $20,023 million. The ratio of consumer spending to GDP in Yemen is 0.06%, and the ratio of consumer spending to the world consumer market is 5.77%. The corporate tax in Yemen is set at 20%. Personal income tax ranges from 10% to 15%, depending on your specific situation and income level. VAT in Yemen is 2%, and it is known as General Sales Tax. In 2013, Yemen received 709.3 million USD in foreign aid.In 2014, the foreign aid amounted to 476.1 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Yemen is $104,008 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Yemen was last recorded at $3,596,990. PPP in Yemen is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Yemen is 34,714 billion. Based on this statistic, Yemen is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Yemen was last recorded at $1,200,542. The average citizen in Yemen has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Yemen averaged 1.9% in 2014. According to this percentage, Yemen is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.