Current Account in United Arab Emirates

United Arab Emirates Current Account | Economic News & Forecasts

United Arab Emirates - Current Account

Economic momentum appears to have taken a hit in the last quarter of the year due to nosediving oil prices in the period. Nevertheless, growth in the non-oil sector remained steady in Q4, as reflected by PMI data up to November, which suggests annual non-oil GDP growth in 2018 broadly matched the preceding year. However, the stock market in Dubai posted its worst annual performance since 2008 with a 25% fall, owing to oversupply and falling prices in the critical real-estate market; in contrast, the Abu Dhabi stock index performed robustly. Looking at 2019, Dubai unveiled its annual budget on 1 January, which was broadly stable from 2018’s record expenditures, with a continued focus on infrastructure investment to prepare for Expo 2020. This spending will supplement the largest budget in history which was recently enacted at the federal level.

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 %Jan 16
Stock Market0.30.75 %Jan 16

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