Current Account in United Arab Emirates

United Arab Emirates Current Account | Economic News & Forecasts

United Arab Emirates - Current Account

The 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

2013  2014  2015  2016  2017  
Current Account (% of GDP)18.3  13.3  4.7  2.4  -     

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United Arab Emirates Current Account Chart


UAE Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of United Arab Emirates.

United Arab Emirates Facts

ValueChangeDate
Exchange Rate3.670.0 %Mar 11
Stock Market0.30.75 %Mar 11

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