Current Account in United Arab Emirates

United Arab Emirates Current Account (USD bn) | Economic News & Forecasts

United Arab Emirates - Current Account (billions of U.S. Dollars)

Conditions in H1 2022 should be robust so far. The oil sector benefitted from the combined effects of the gradual pickup in production through April and elevated prices. For the first time in two years, the UAE shipped oil to Europe, as the latter tries to move away from dependence on Russian oil. The non-oil sector likely contributed to a solid performance as well, as the PMI signaled continually strengthening conditions through April. Further, the UAE and Israel signed their first free trade agreement, reflecting increasing ties between the countries. Meanwhile, the UAE’s crypto-friendly stance is attracting business and could lead the UAE to become a crypto-hub. In politics, Sheikh Mohammed bin Zayed al-Nahyan—the former crown prince of Abu Dhabi—was named president of the UAE on 14 May, following his brother’s death. The transfer of power should not bring any changes in policy.

United Arab Emirates - Current Account (USD bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (USD bn)17.6  13.2  27.5  40.5  29.6  

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United Arab Emirates Facts

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

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