Sana'a: The Ministry of Economy, Industry and Investment concluded on Tuesday the activities of a photo exhibition and accompanying events held alongside the recent press conference in Sana'a titled 'The Yemeni Economy: 12 Years Under Saudi Siege - Indicators and Figures.'
According to Yemen News Agency, the three-day event included seminars and lectures highlighting the damage inflicted on Yemen's economy due to the Saudi and US aggression and blockade, as well as their humanitarian impacts on Yemenis. At the closing ceremony, attended by Acting Minister of Economy, Industry and Investment Sam Al-Bashiri, Deputy Minister for Foreign Trade Affairs Fouad Al-Huwaidi presented a paper on the impact of the aggression and Saudi blockade on foreign trade, with losses exceeding $111 billion, including more than $86 billion in lost commodity exports.
Deputy Minister for Industry and Economic Cities Sami Maqbouli reviewed the losses and damages suffered by the industrial sector, stating that 7,390 factories, workshops, and industrial facilities had been lost, while more than 1,000 factories had halted operations due to the aggression and blockade. Meanwhile, Deputy Minister of Communications and Information Technology for the Technical Sector Taha Zubarah discussed the damage to the telecommunications and postal sectors, noting that direct losses in telecommunications exceeded $6.265 billion, with indirect losses many times higher.
The closing session, attended by Ministry of Economy officials and representatives of relevant authorities, also featured a presentation on the impact of the blockade on domestic trade. The event concluded with the reading of the press statement and recommendations issued by the exhibition and accompanying seminars under the title 'The Yemeni Economy: 12 Years Under Saudi Siege - Indicators and Figures.'
The statement said the report issued by the Ministry of Economy represents a key national database for documenting the economic impacts of the aggression and blockade, estimating total economic losses at around $1.13 trillion. It recommended adopting the report as a primary national reference for documenting the economic consequences of the war and blockade, using it in future economic studies and policies, establishing an updated national database to regularly monitor economic and humanitarian losses and link them to development indicators.
The statement also stressed the need to intensify research and academic efforts to prepare specialized studies on economic, social, and sectoral impacts, develop scientific scenarios for economic recovery and reconstruction, and issue the report periodically with updated indicators to serve as an annual reference tracking developments in the Yemeni economy and the effects of the aggression and blockade.