Yemen's oil revenues sharply fell during the past ten months by 65 percent to $ 1.473 billion compared with $ 4.149 billion in the same period last year, government reports have said.
The information released by the Central Bank noted the fall was triggered by a drop in oil production through January to October with only 25.5 million barrels produced, while the same period in 2008 saw a production capacity of 38.8 million barrels.
The global oil prices were also a contributing factor to the slump when a crude oil barrel sold only for $ 60, down from a price of $ 107 in 2008, the bank added.
Yemen now produces between 280.000-300.000 barrels of oil a day, down from 400.000 barrels in previous years.
The government's share in oil production under contracts with foreign oil exploration and production firms forms about 70 percent of the public budget revenues, 63 percent of the revenues from exports and 30 percent of the Gross Domestic Product.
Yemen is struggling to boost national economy through supporting non-oil sectors and many measures at vital economic sectors including streamlining legislation and improving investment regulations.