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  • 08-07-14

    Yemen's oil exports income 64 percent lower in May

    (MENAFN) Yemen's income from oil exports has dropped by as much as 64 percent, reaching USD73.4 million in May compared to the same period 2013, according to Arab News.

    Experts attributed the fall in income to attacks on an export pipeline, as well as to shrinkage in the central bank's foreign asset reserves.

    Sanaa's finances have suffered as it has been caught in a nationwide fight against militants and other rebel groups.

    The central bank's monthly report said that Sanaa's earnings from exports of crude have also dropped by 40 percent between January and May, reaching USD671 million compared to the same period a year earlier.

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