DUBAI: Yemen’s income from oil exports increased to $905 million in the first four months of 2010 compared to $365 million the same period last year, the Al-Hayat newspaper reported on Monday.
Citing a statement from the Yemeni central bank, the paper said Yemen saw an increase in total exports to 11.42 million barrels of crude oil, compared to 8.1 million barrels in the same period in 2009.
Yemen’s central bank said the increase in the value of exports was due to the increase of global crude prices to $79.24 compared to $45.06 a barrel in the same period last year.
Yemen’s foreign reserves in the first four months of the year were $6.1 billion, compared with $6.2 billion in the same period last year.
The central bank also said that its budget increased by 262 billion Yemeni rials to 1.86 trillion rials ($8.24 billion) by end of April, compared to 1.64 trillion rials in April 2009.
The country’s central bank has injected some $850 million — around 15 percent of its reserves — into the market in 2010 to support the impoverished Arab country’s currency, which has fallen by about 8 percent against the dollar since the start of the year.