Current Account in United Arab Emirates
United Arab Emirates - Current AccountAlthough the economy likely posted a somewhat subdued performance in the first quarter of the year, economic momentum appears to have picked up at the end of the quarter and heading into Q2. Oil production cuts agreed to by the UAE as part of an OPEC+ deal restrained growth in Q1, while activity in Dubai likely remained hampered by a feeble real estate market. Moreover, PMI data shows the non-oil sector slowed considerably in February amid steep price competition and weak external demand. Nevertheless, the sector rebounded in March before further extending its gains in April, with the PMI reaching an over one-year high as export demand—notably from Europe and the country’s Gulf partners—recovered. In the same month, business sentiment surged to a record high, boding well for momentum in the months ahead.
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 %||May 13|
|Stock Market||0.2||0.75 %||May 13|
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May 5, 2019
Consumer prices fell 0.59% month-on-month in March, further declining from the 0.30% fall recorded in February.
May 5, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) rose from 55.7 in March to 57.6 in April, the highest reading since December 2017.
April 9, 2019
Consumer prices fell 0.30% month-on-month in February, coming in below the 0.12% decline recorded in January.
April 7, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) rose from 53.4 in February to 55.7 in March.
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.