DID Press: A new assessment by Yemen’s Ministry of Economy, Industry and Investment in Sanaa says 12 years of war and blockade led by the Saudi-led military coalition have caused unprecedented damage to Yemen’s economic structure, with macroeconomic losses exceeding $1.13 trillion and affecting nearly all productive, financial, energy and public service sectors.
The report estimates that the macroeconomic sector suffered the largest losses at $1.13 trillion, followed by foreign trade losses of $111.13 billion and industrial sector losses of $82.5 billion.
The assessment also estimates losses in oil and mining at $57 billion, while electricity, water and energy infrastructure sustained around $28 billion in damages. Other affected sectors include agriculture and livestock ($111 billion), transportation ($23 billion), and fisheries ($12.6 billion).
According to the report, damage to the treasury and financial sector reached $32.1 billion, while tourism, cultural heritage and archaeology suffered losses of around $11 billion. The health sector was also severely affected, with estimated losses of $7 billion.
The Sanaa authorities said the figures demonstrate the scale of Yemen’s economic crisis and warned that reconstruction would require major financial resources and a prolonged period of political and security stability.
The report also highlights the political consequences of the conflict, with Sanaa authorities arguing that years of military pressure and economic restrictions failed to achieve their objectives and instead strengthened the influence of the Ansar Allah movement in Yemen’s political and security landscape.