Current Account in United Arab Emirates

United Arab Emirates Current Account | Economic News & Forecasts

United Arab Emirates - Current Account

The economy seemingly started to recover in the third quarter, after the second quarter’s sharp contraction. In September, the PMI moved back into expansionary territory and recorded the best reading in 11 months, signaling an improvement in the business conditions of the non-oil private sector. However, the reading showed that employment levels continued to decrease, albeit at a slower pace than in August. Moreover, oil production hit a near-decade low in Q3, amid constrained output and low global prices, likely weighing on government finances. Additionally, the sharp increase in new Covid-19 cases through September–October poses a threat to the recovery, as restrictions could be tightened again. In other news, on 20 October the UAE and Israel struck a preliminary deal for the oil exporter to send oil directly to Europe via an Israeli pipeline, boding well for the UAE’s oil exports.

United Arab Emirates - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)4.9  3.7  7.1  9.6  7.0  

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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

Value Change Date
Exchange Rate3.670.0 %Dec 31
Stock Market0.10.75 %Jan 07

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