Barran Press
London, UK – The UK government announced on Saturday, November 23, 2024, that total trade in goods and services with Yemen has decreased by £17 million, amounting to £46 million in the four quarters leading up to the end of the second quarter of 2024.
In a special trade and investment bulletin published on the UK government’s website, it was noted that trade between the UK and Yemen fell by 27.0% compared to the same period in 2023. UK exports to Yemen reached £42 million, reflecting a decline of 28.8%, or £17 million, from the previous year.
On the import side, the total value of goods imported from Yemen to the UK stood at £4 million, showing a minimal change of less than £1 million compared to the four quarters ending in the second quarter of 2023.
The report indicated that Yemen ranked as the UK’s 170th trading partner, accounting for less than 0.1% of the UK’s total trade. It also highlighted that there was no record of foreign direct investment (FDI) stock from the UK in Yemen for 2022 due to data disclosure issues.
However, it was noted that the UK's internal FDI stock in Yemen reached £3 million in 2022, reflecting a 200% increase of £2 million from 2021. Yemen constituted less than 0.1% of the total UK internal FDI stock.
Among the UK’s exports to Yemen, £25 million (59.5%) were goods, while £17 million (40.5%) were services. The UK reported a total trade surplus of £38 million with Yemen, down from a surplus of £55 million in the four quarters ending in the second quarter of 2023.
In terms of goods trade, the UK achieved a surplus of £25 million with Yemen, compared to a surplus of £42 million in the previous year. The service trade surplus remained stable at £13 million, unchanged from the same period in 2023.