Current Account in United Arab Emirates

United Arab Emirates Current Account | Economic News & Forecasts

United Arab Emirates - Current Account

Economic growth was likely tepid in the second half of last year, although firm data is still outstanding. The non-oil private sector PMI weakened throughout H2, and in December posted the lowest reading in over a decade due to meek demand conditions and weak production. However, the oil sector should have provided some support thanks to higher output, notwithstanding OPEC+ production cuts. In other news, the UAE cabinet recently approved a multi-entry five-year tourist visa for all nationalities, which aims to create jobs and boost the tourism industry going forward. Moreover, Dubai approved its 2020 budget in late December, forecasting a 17% annual spending increase in preparation for the Expo 2020, which should support growth this year.

United Arab Emirates - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)18.3  13.3  4.9  3.7  7.3  

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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

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

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