The Republic of Yemen occupies the southern end of the Arabian Peninsula, sharing land borders with Saudi Arabia to the north, and Oman to the east.
Though Arabic is the country’s official language English is taught in many schools, and the language is widely spoken in the south.
Yemen is the poorest country in the Middle East. Yemeni infrastructure is weak, and water supply in particular is patchy. The situation has been compounded by the Civil War that has raged in the country since 2015.
Around three-quarters of Yemen’s workforce are employed in agriculture, producing around 20% of national GDP.
Yemen’s exports sector is dominated by petroleum and oil. The country’s oil output is relatively small, however, and the country does not belong to OPEC. Gas and fish are among other important exports. Around 840,000 of tons are caught in Yemeni waters every year. However, the fishing industry remains underdeveloped.
Other industries include ship repair, food processing, handcrafts, aluminium products and cement. The country’s main export partners are China (which receives around 44% of Yemeni exports), Thailand, India and South Korea.
HLB is represented by HLB Yemen, a full service accounting and auditing firm offering audit, tax, consulting, litigation support, business valuations, and forensic accounting services.
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