Industry in United Arab Emirates

United Arab Emirates Industry | Economic News & Forecasts

United Arab Emirates - Industry

Economic activity appears to have been robust in Q2, supported by a pick-up in oil production, recent pro-business reforms and solid activity in the non-oil sector. The PMI rose to its highest level of the year in June, while in the same month the UAE exceeded its OPEC oil production target for the first time in 2018. New policies implemented in recent months—including a visa reform in May, a joint investment plan with Saudi Arabia, a large stimulus package in Abu Dhabi, and several measures aimed at cutting red tape and increasing the ease of doing business—have also been supportive of business confidence, which hit the highest level on record in the June PMI. Moreover, while employment growth remained negligible throughout the quarter, it appears poised to increase in Q3 as backlogs of work have reached historic highs. On July 29, the Abu Dhabi government announced it would allow GCC nationals to apply for its business license scheme without requiring an office and increased the scope of eligible industries, in a bid to reduce firm set-up costs and further attract new businesses.

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 %Aug 15
Stock Market0.40.75 %Aug 15

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