Industry in United Arab Emirates

United Arab Emirates Industry | Economic News & Forecasts

United Arab Emirates - Industry

Economic growth in the first quarter of 2019 appears to have been modest, according to available data. In the oil sector, production cuts agreed to by the UAE in an OPEC+ deal since early January likely kept output subdued and dragged on growth, though they supported prices. Meanwhile, growth in the non-oil economy fell to an over two-year low in February after a solid start in January, according to PMI data. The non-oil private sector remains mired in a difficult competitive environment, with firms slashing prices to attract new business and shedding jobs to keep costs down. Moreover, recently-released data shows the economy—while still rebounding from 2017—fared less well than expected last year. Notably, growth in Dubai fell to a nine-year low in 2018, largely on the back of feeble commercial and residential real estate markets due to falling prices and oversupply.

United Arab Emirates - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)3.6  0.9  6.8  4.3  -     

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United Arab Emirates Industry Chart

UAE Industry
Note: Annual variation of industrial production in %.
Source: National Bureau of Statistics.

United Arab Emirates Facts

Exchange Rate3.670.0 %Apr 12
Stock Market0.30.75 %Apr 12

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