Economy
There was little industrial output, or mineral wealth exploitation, in South Yemen, until the mid-1980s, following the discovery of significant petroleum reserves in the central regions near Shibam and Mukalla. The main sources of income were agriculture, mostly fruit, cereal crops, cattle and sheep, fishing and later, oil exports.
The national budget was 13.43 million dinars in 1976, and the gross national product was USD $150 million. The total national debt was $52.4 million.
Read more about this topic: South Yemen
Famous quotes containing the word economy:
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—Doris Lessing (b. 1919)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)