Current Account in United Arab Emirates
United Arab Emirates - Current AccountThe non-oil economy appears to have started 2019 on a solid footing. The PMI rebounded to a seven-month high in January after a lull at the end of 2018, signaling solid prospects in the non-oil sector thanks primarily to strong domestic demand. Employment growth, however, remains low due to ongoing pressure on firms’ margins. Meanwhile, though OPEC+ cuts weighed on oil production so far in Q1, crude oil prices consequently rebounded, which should buttress the government’s coffers going forward. Furthermore, the public sector will likely be a key driver of growth in Q1 and throughout the year, as the large fiscal stimulus approved both at the federal and emirate level should have begun lifting economic activity in the quarter.
United Arab Emirates - Current Account Data
|Current Account (% of GDP)||18.3||13.3||4.7||2.4||-|
5 years of economic forecasts for more than 30 economic indicators.
United Arab Emirates Current Account Chart
Source: Central Bank of United Arab Emirates.
United Arab Emirates Facts
|Exchange Rate||3.67||0.0 %||Mar 11|
|Stock Market||0.3||0.75 %||Mar 11|
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United Arab Emirates: PMI slumps in February on falling employment amid steep price competition; production outlook worsens
March 5, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) fell from 56.3 in January to 53.4 in February, which marked its lowest level since October 2016.
United Arab Emirates: Consumer prices tumble sharply in January owing to high base effect from VAT introduction
March 4, 2019
Consumer prices fell 0.12% month-on-month in January, improving from the 0.31% decline recorded in December.
February 5, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) rose from 54.0 in December, its lowest level since October 2016, to a seven-month high of 56.3 in January.
January 23, 2019
Consumer prices fell 0.31% in December from the previous month, broadly matching November’s 0.30% decline.
January 10, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) fell from 55.8 in November to 54.0 in December, its lowest level since October 2016.