Yemen-GCC,Rise in averages of trade exchange [Archives:2004/748/Business & Economy]

Trade exchange between Yemen and the Gulf Cooperation Council states has seen a great recovery in reflection of development of political and economic relations between Yemen and the GCC countries in the recent years.
Yemen Times has learnt that the volume of trade exchange between Yemen and the GCC states has at the end of last year amounted to $ 1.7 billion, $400 million of which was the volume of Yemeni exports to the Gulf states and $1.2 billion the amount of Gulf exports to Yemen.
A report issued by the Yemeni Central Bank made it clear that the United Arab Emirates occupied the first position in the volume of trade exchange between Yemen and the GCC stares. The value of imports and exports between the two countries reached at around YR 127 billion. Saudi Arabia occupied the second position where the volume of trade exchange amounted to YR 91.7 billion, YR 16.6 billion of which was the value of Yemeni exports to Saudi Arabia and YR 75.1 billion the value of Yemeni imports.
The volume of trade exchange between Yemen and Kuwait has also risen to YR 79.8 billion in 2003 against YR 61.7 billion last year when the value of Yemeni exports amounted to 26.8 billion and the value of imports from Kuwait amounted to YR 52.9 billion.
The report also mentions that the kingdom of Bahrain occupied the last position. Volume of trade exchange with the two countries had last year amounted to YR 648.6 million, at a retreat from the last year amounted to YR 7.7 billion. Yemen's exports value during that year amounted only to YR 44 million, while the value of its imports recorded YR 604.5 million.
Nevertheless, indicators of the total trade exchange between Yemen and the GCC
countries pointed to improvement last ear in favour of Gulf exports to Yemeni market which is promising of receiving bigger amounts of Gulf products, especially from Emirates products that receive trust of consumers in Yemen.
——
[archive-e:748-v:13-y:2004-d:2004-06-21-p:b&e]