Exports in United Arab Emirates

United Arab Emirates Exports (%) | Economic News & Forecasts

United Arab Emirates - Exports (percent change)

The economy likely lost steam in the second quarter as OPEC production cuts undermined oil output growth. In contrast, the non-oil sector likely accelerated, as the non-oil sector PMI for Q2 averaged the strongest quarterly expansion since Q4 2014. Moreover, household spending should have benefited from falling consumer prices, higher employment and healthy private sector credit growth, while the construction and real estate sector was likely solid in Q2. Turning to the third quarter, crude oil output growth was modest in July–August compared to the same month in 2018. Meanwhile, August’s non-oil sector PMI fell to the lowest level in eight years, suggesting growth likely softened in the non-oil sector. On the bright side, average loan growth accelerated in July–August. Moreover, the formation of a new higher committee of real estate planning in early September led to a surge in transactions, which may signal a recovery in the market.

United Arab Emirates - Exports (%) Data

2013  2014  2015  2016  2017  
Exports (annual variation in %)3.2  -7.6  -12.4  -1.8  6.3  

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United Arab Emirates Facts

ValueChangeDate
Exchange Rate3.670.0 %Sep 04
Stock Market0.10.75 %Sep 04

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