Industry in United Arab Emirates

United Arab Emirates Industry | Economic News & Forecasts

United Arab Emirates - Industry

Following a likely solid second quarter for the non-oil sector, the economy appears poised to be gaining steam in the third quarter. This is notably thanks to the increase of OPEC oil production targets in June as reflected by a noticeable increase in oil output in July and August. Furthermore, although the PMI softened somewhat in the same period—indicating waning momentum in the non-oil economy—a swath of recent reforms enacted throughout the Emirates should be starting to bear fruit in Q4 and beyond, further buttressing economic activity. The measures notably focus on making business easier and cheaper to conduct, as well as on attracting investment and skilled labor—for instance by making visas and business licenses easier to obtain. Job creation for now remains one of the weak points of the UAE economy, as seen by the fall in employment logged in the August PMI. However, resilient output growth suggests it could accelerate in coming quarters as backlogs of work continue to accumulate.

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

ValueChangeDate
Exchange Rate3.670.0 %Oct 18
Stock Market0.30.75 %Oct 18

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