Yemeni oil exports value increases to $ 2,1 billion

SANA'A, July 07 (Saba) - Yemeni oil exports' value increased to $
2,103 billion during January-May 2008, with an increase of $ 1,083
billion for the same period last year, according to a report issued
by the Central Bank of Yemen (CBY).

The report attributed this rise to increasing oil production to
19,61 million barrels in January-May 2008 compared with 16,86
million barrels during the same period in 2007 in addition to
increasing the price to $ 107,2 per barrel while it was $ 60,2 in
2007.

The CBY's balance sheet increased at the end of 2008 May to YR1, 707
trillion, compared with YR 1, 544 trillion at the end of May 2008,
according to the report.

The foreign currency reserves increased to $ 8, 56 billion, compared
to $ 7, 595 billion at the end of May 2007.

Moreover, the report revealed that the foreign assets of the banking
system increased at the end of last May to YR1,763 trillion, whereas
they were YR1,685 trillion at the end of May 2007.